Gates Greg 4
4 · LPL Financial Holdings Inc. · Filed Feb 27, 2026
Research Summary
AI-generated summary of this filing
LPL Financial (LPLA) Group MD Greg Gates Receives Stock Award
What Happened
- Greg Gates, Group Managing Director at LPL Financial (LPLA), had performance stock units (PSUs) vest and received shares on Feb 25, 2026, and was granted additional restricted stock units (RSUs). He was issued 1,856 shares upon PSU vesting (PSUs granted 2/25/2023 and earned at 81% of target). To cover tax withholding, 1,293 of those shares were disposed of at $318.47 each for proceeds of $411,782. In addition, Gates was granted 2,774 RSUs and 2,807 RSUs on 2/25/2026; those RSUs vest on future dates per the footnotes.
Key Details
- Transaction date: 2026-02-25; Form 4 filed 2026-02-27 (timely).
- Sale for tax withholding: 1,293 shares disposed at $318.47 = $411,782 (code F).
- Shares issued on vesting: 1,856 shares (PSUs earned at 81% of target); net retained from PSU vesting = 563 shares (1,856 issued − 1,293 withheld).
- New grants: 2,774 RSUs and 2,807 RSUs (granted 2/25/2026) that vest on future dates:
- 2,774 RSUs vest ratably on Feb 25 of 2027, 2028 and 2029 (F2).
- 2,807 RSUs vest half on Feb 25, 2028 and half on Aug 31, 2029 (F3).
- Holdings after transaction (per filing): 12,458 shares of Common Stock plus multiple RSU tranches: 511 RSUs (vest 6/12/2026), 776 RSUs (vest 2/25/2027), 1,438 RSUs (vest ratably 2/25/2027 & 2/25/2028), and the RSUs reported on this Form 4 (the 2,774 and 2,807).
- Filing signed via Power of Attorney dated Dec 17, 2024.
- Transaction codes: A = award/grant, F = payment of exercise price or tax liability (here, sale for tax withholding).
Context
- The PSU shares were earned based on LPL’s relative total shareholder return over a three‑year performance period ending Feb 14, 2026 — earned at 81% of target (routine compensation outcome). The disposition was a tax-withholding sale, not an open-market sell signal. The RSU grants are time‑vested compensation and will convert to shares on their stated vesting dates.
Insider Transaction Report
Form 4
Gates Greg
Group Managing Director
Transactions
- Award
Common Stock
[F1]2026-02-25+1,856→ 16,476 total - Tax Payment
Common Stock
2026-02-25$318.47/sh−1,293$411,782→ 15,183 total - Award
Common Stock
[F2]2026-02-25+2,774→ 17,957 total - Award
Common Stock
[F3][F4]2026-02-25+2,807→ 20,764 total
Footnotes (4)
- [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]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. One-half of these restricted stock units will vest on February 25, 2028 and the other half of such RSUs to vest on August 31, 2029. Vested shares will be issued to the reporting person as soon as practicable after the vesting date.
- [F4]Consists of (i) 12,458 shares of Common Stock; (ii) 511 restricted stock units that vest in full on June 12, 2026; (iii) 776 restricted stock units that vest in full on February 25, 2027; (iv) 1,438 restricted stock units that vest ratably on each of February 25, 2027 and February 25, 2028; and (v) the restricted stock units reported on this Form 4.
Signature
/s/ Robert S. Hatfield III, attorney-in-fact|2026-02-27