Audette Matthew J 4

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.