LPL Financial Holdings Inc. 4
4 · LPL Financial Holdings Inc. · Filed Feb 15, 2017
Insider Transaction Report
Form 4
Hellman Marco
Director
Transactions
- Sale
Common Stock
2017-02-13$40.00/sh−900,000$36,000,000→ 1,885,143 total(indirect: See Footnote)
Footnotes (3)
- [F1]Consists of (i) 5,202 shares held directly by HMI Capital, LLC ("HMI LLC"), including 3,468 shares represented by restricted stock that is scheduled to vest in full on May 11, 2017, and (ii) 1,879,941 shares held directly by HMI Capital Partners, L.P. and Merckx Capital Partners, L.P. (collectively, the "Funds). HMI LLC and the Funds are directors by deputization of the Issuer. The 5,202 shares held directly by HMI LLC were granted to Mr. Hellman under the Issuer's Amended and Restated 2010 Omnibus Equity Incentive Plan pursuant to the Issuer's Non-Employee Director Compensation Policy. Mr. Hellman assigned these shares to HMI LLC. The proceeds of any disposition of these shares will be applied against management fees payable pursuant to the partnership agreement of the applicable fund.
- [F2]HMI LLC, which is the general partner and investment adviser of the Funds, holds shares for the benefit of the Funds and, in turn, for the benefit of investors in the Funds. A three member investment committee of HMI LLC has investment discretion over shares held by HMI LLC. As the managing member of HMI LLC and a member of the investment committee, Mr. Hellman may be deemed to indirectly beneficially own such shares. Mr. Hellman disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein, if any.
- [F3]The Funds hold shares for the benefit of their investors. Such shares may be deemed to be indirectly beneficially owned by HMI LLC as the general partner and investment adviser of the Funds and by Mr. Hellman as the control person of HMI LLC. Mr. Hellman disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.