Cohen Marc Eliot 4

What Happened

• Marc Eliot Cohen, Group Managing Director at LPL Financial (LPLA), received 1,940 shares on Feb 25, 2026 from vesting equity awards (two grants of 537 and 1,403 shares). Of those, 483 shares were withheld to cover tax liabilities (reported as a "F" withholding disposal) at $318.47 per share, totaling ~$153,821. The net issuance to Cohen was 1,457 shares.
• The withheld shares reflect tax withholding on vested awards—not an open-market sale. The award entries are reported at $0.00 acquisition price because they are vested awards (PSUs/RSUs), not purchases.

Key Details

• Transaction date: 2026-02-25; Form 4 filed: 2026-02-27 (timely).
• Acquisitions: 537 shares (award) and 1,403 shares (award) at $0.00.
• Withholding/disposition: 483 shares at $318.47 each = $153,821 (tax withholding).
• Net new shares issued to Cohen: 1,457 (1,940 vested − 483 withheld).
• Footnotes: PSUs granted Feb 25, 2023 vested based on 3‑year TSR vs. peers and were earned at 81% of target (F1). Other reported units include restricted stock units that vest ratably on Feb 25 of 2027, 2028 and 2029 (F2). Aggregate holdings description in filing lists 3,206.2114 shares of common stock plus various RSUs and the units reported here (F3).
• Signing: Form signed by a representative under Power of Attorney dated Dec 11, 2024.

Context

• This was a vesting event (PSUs/RSUs) with shares withheld for taxes (routine administrative action), not a discretionary sale or open-market trade. For retail investors, purchases or open-market sales by insiders can signal sentiment; tax withholding on vesting is standard and does not itself indicate buying or selling intent.