Cohen Marc Eliot 4
4 · LPL Financial Holdings Inc. · Filed Mar 11, 2026
Research Summary
AI-generated summary of this filing
LPL Financial (LPLA) Marc Cohen Exercises Options & Sells Shares
What Happened
Marc Eliot Cohen, Group Managing Director at LPL Financial (LPLA), exercised 2,212 stock options (exercise price $77.53) on 2026-03-09 (cost $171,496) and sold the resulting shares plus additional shares: 2,212 shares sold on 2026-03-09 for a weighted avg price of $308.75 (proceeds $682,955) and 1,088.211 shares sold on 2026-03-10 at $309.72 (proceeds $337,041). Total sale proceeds were about $1,019,996. The filing shows the exercise and subsequent sales (effectively a cashless exercise and immediate disposition).
Key Details
- Transaction dates: Exercises and initial sale on 2026-03-09; additional sale on 2026-03-10. Filing date: 2026-03-11.
- Exercise: 2,212 options at $77.53 per share (total cost $171,496).
- Sales: 2,212 shares at weighted avg $308.75 (proceeds $682,955; prices in that batch ranged $309.66–$310.30 per F1) and 1,088.211 shares at $309.72 (proceeds $337,041).
- Total shares sold: 3,300.211; total proceeds ≈ $1.02M.
- Shares owned after transaction (per filing/footnote F2): 2,118 shares of common stock plus restricted stock units: 85 RSUs vesting 6/12/2026; 278 RSUs vesting 2/25/2027; 516 RSUs vesting ratably 2/25/2027–2/25/2028; and 1,403 RSUs vesting ratably 2/25/2027–2/25/2029.
- Option background: The option exercised vested in installments starting 2/25/2020 and fully vested 2/25/2022 (footnote F3).
- Other notes: The sale prices in the 3/09 batch are a weighted average; the filer can provide breakdowns on request (F1). The Form 4 was filed within normal timing (no late filing flag). The form was signed on behalf of Marc Cohen under a Power of Attorney dated 12/11/2024.
Context
This was an exercise of previously vested options followed by sales of the shares (a common, routine liquidity move by insiders). The filing is factual and does not indicate the insider’s motivations. For retail investors, purchases are often more informative about insider sentiment; this transaction is an exercise-plus-sale (cashless), which converts option value to cash.
Insider Transaction Report
- Exercise/Conversion
Common Stock
2026-03-09$77.53/sh+2,212$171,496→ 7,700.211 total - Sale
Common Stock
2026-03-09$308.75/sh−2,212$682,955→ 5,488.211 total - Sale
Common Stock
[F1][F2]2026-03-10$309.72/sh−1,088.211$337,041→ 4,400 total - Exercise/Conversion
Stock Option (Right to Buy)
[F3]2026-03-09−2,212→ 0 totalExercise: $77.53Exp: 2029-02-25→ Common Stock (2,212 underlying)
- 19(indirect: By Spouse)
Common Stock
Footnotes (3)
- [F1]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $309.66 to $310.30, 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 (1) to this Form 4.
- [F2]Consists of (i) 2,118 shares of Common Stock; (ii) 85 restricted stock units that vest in full on June 12, 2026; (iii) 278 restricted stock units that vest in full on February 25, 2027; (iv) 516 restricted stock units that vest ratably on each of February 25, 2027 and February 25, 2028; and (v) 1,403 restricted stock units that vest ratably on each of February 25, 2027, February 25, 2028 and February 25, 2029.
- [F3]This option became exercisable in three installments, beginning February 25, 2020, which was the first anniversary of the date on which it was granted. The option became fully vested on February 25, 2022.