Audette Matthew J 4
4 · LPL Financial Holdings Inc. · Filed Feb 27, 2026
Research Summary
AI-generated summary of this filing
LPL Financial (LPLA) President & CFO Matthew Audette Sells Shares
What Happened
Matthew J. Audette, President and Chief Financial Officer of LPL Financial (LPLA), disposed of shares following the vesting of performance and restricted stock units and sold additional shares in open-market trades. On Feb 25, 2026 he received awards (8,776 shares total: 2,152 and 6,624 RSU/PSU-related shares), and 2,351 shares were disposed to cover tax withholding (2,351 shares at $318.47, $748,723). On Feb 26, 2026 he executed open-market sales of 1,581 shares in multiple trades (506 @ $321.04; 348 @ $318.51; 274 @ $319.32; 453 @ $322.15) for aggregate proceeds of about $506,715. The awards themselves were granted at $0 (typical for RSUs/PSUs).
Key Details
- Transaction dates: awards and tax withholding on 2026-02-25; open-market sales on 2026-02-26.
- Open-market sales: 1,581 shares sold for ~ $506,715 total (multiple trades; prices ranged roughly $318.07–$322.69 across reported lots; see footnotes for exact ranges).
- Tax withholding: 2,351 shares withheld/ disposed at $318.47 = $748,723 (represents shares surrendered to cover tax liability on vested PSUs).
- Awards: 8,776 shares reported as acquired (PSUs/RSUs) at $0.00 (PSUs granted Feb 25, 2023 were earned at 81% of target based on TSR through Feb 14, 2026).
- Shares beneficially owned after transactions: reported as consisting of 10,006 shares of common stock plus additional unvested RSUs (see footnote summary: 787 RSUs vesting Feb 25, 2027; 3,965 RSUs vesting ratably 2027–2028; plus the RSUs reported here).
- Sales executed pursuant to a Rule 10b5-1 trading plan adopted Aug 14, 2025 (per footnote).
- Filing: Form 4 filed 2026-02-27 for transactions on 2026-02-25/26 (filed within the reporting window).
Context
- The 2,351-share disposition labeled "F" reflects shares used to satisfy tax withholding on vested PSUs (not a separate open-market sale for personal cash).
- The open-market sales were conducted under a pre-established 10b5-1 plan, which is a routine mechanism insiders use to sell shares on a schedule.
- Awards (A) here are equity grants (PSUs/RSUs); PSUs were performance-based and earned at 81% of target based on relative TSR.
- These transactions are routine insider activity tied to vesting and a trading plan; they are factual disclosures and do not, by themselves, indicate the insider's future view of the company.
Insider Transaction Report
Form 4
Audette Matthew J
President and CFO
Transactions
- Sale
Common Stock
[F3][F6]2026-02-26$321.04/sh−506$162,446→ 21,835 total - Award
Common Stock
[F1]2026-02-25+2,152→ 18,690 total - Tax Payment
Common Stock
2026-02-25$318.47/sh−2,351$748,723→ 16,339 total - Award
Common Stock
[F2]2026-02-25+6,624→ 22,963 total - Sale
Common Stock
[F3][F4]2026-02-26$318.51/sh−348$110,841→ 22,615 total - Sale
Common Stock
[F3][F5]2026-02-26$319.32/sh−274$87,494→ 22,341 total - Sale
Common Stock
[F3][F7][F8]2026-02-26$322.15/sh−453$145,934→ 21,382 total
Footnotes (8)
- [F1]Represents shares of Common Stock received upon vesting of performance stock units ("PSUs") that were granted on February 25, 2023. The granted PSUs were eligible to become earned PSUs based on the Issuer's total stockholder return ("TSR") relative to the TSR of a predetermined comparator group over a three-year performance period ending February 14, 2026. Based on the Issuer's TSR relative to this peer group, PSUs were earned at 81% of the reporting person's target award.
- [F2]These shares represent restricted stock units. Each restricted stock unit represents a contingent right to receive one share of Common Stock on the applicable vesting date. These restricted stock units will vest ratably on each of February 25, 2027, February 25, 2028 and February 25, 2029. Vested shares will be issued to the reporting person as soon as practicable after the vesting date.
- [F3]The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on August 14, 2025.
- [F4]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $318.07 to $319.05, inclusive. The reporting person undertakes to provide to LPL Financial Holdings Inc., any security holder of LPL Financial Holdings Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote (4) to this Form 4.
- [F5]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $319.17 to $319.52, inclusive. The reporting person undertakes to provide to LPL Financial Holdings Inc., any security holder of LPL Financial Holdings Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote (5) to this Form 4.
- [F6]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $320.70 to $321.37, inclusive. The reporting person undertakes to provide to LPL Financial Holdings Inc., any security holder of LPL Financial Holdings Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote (6) to this Form 4.
- [F7]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $321.97 to $322.69, inclusive. The reporting person undertakes to provide to LPL Financial Holdings Inc., any security holder of LPL Financial Holdings Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote (7) to this Form 4.
- [F8]Consists of (i) 10,006 shares of Common Stock; (ii) 787 restricted stock units that vest in full on February 25, 2027; (iii) 3,965 restricted stock units that vest ratably on each of February 25, 2027 and February 25, 2028; and (iv) the restricted stock units reported on this Form 4.
Signature
/s/ Robert S. Hatfield III, attorney-in-fact|2026-02-27