Khanna Somesh 4

What Happened Somesh Khanna, a director of LPL Financial Holdings (LPLA), received a grant of 712 stock units on May 15, 2026 (transaction reported on Form 4 filed May 19, 2026). The grant is reported as an award/acquisition (code A) at $0.00 — these are stock units that represent the right to receive one share each and do not reflect an immediate cash purchase. The units are scheduled to vest in full on May 20, 2027 and were elected to be deferred under the company’s Non‑Employee Director Deferred Compensation Plan.

Key Details

• Transaction date: May 15, 2026; Form 4 filed May 19, 2026 (timely within 2 business days).
• Transaction type/amount: Award (A) of 712 stock units at $0.00; reported value $0.
• Vesting: Units vest in full on May 20, 2027.
• Unit mechanics: Each stock unit equals the right to one share of common stock.
• Deferral: Grant is subject to a written deferral election under the Non‑Employee Director Deferred Compensation Plan — Khanna elected to defer the equity portion of his annual retainer.
• Shares owned after transaction: Not disclosed on this Form 4.
• Administrative note: Form signed on behalf of Somesh Khanna under a Power of Attorney dated Jan 9, 2026.
• No 10b5‑1 plan, tax‑withholding sale, or late‑filing indication in the filing.

Context This is a typical non‑employee director compensation award rather than a market purchase or sale; such grants are commonly used to compensate directors and do not, by themselves, indicate buying/selling sentiment. Because the units are deferred and vest in the future, any eventual receipt of shares or sale will generate subsequent reports.