SCHIFTER RICHARD P 4

What Happened

• Richard P. Schifter, a director of LPL Financial (LPLA), received two grants on 2026-05-15 totaling 1,060 stock units (712 + 348). Each unit represents the right to receive one share of common stock. Both grants were reported at $0.00 (award/compensation), not open-market purchases or sales.

Key Details

• Transaction date: 2026-05-15; Form 4 filed: 2026-05-19 (timely filing).
• Grants: 712 units (F1) and 348 units (F2); total = 1,060 units; reported acquisition price $0.00; reported monetary value $0.
• Vesting/deferral: F1 (712) vests in full on May 20, 2027. F2 (348) is fully vested but the recipient elected to defer receipt. Both are subject to the Non-Employee Director Deferred Compensation Plan (DDCP).
• Shares owned after transaction: Not disclosed in the filing excerpt.
• Other notes: F3 clarifies the reporting person is co-trustee of certain trusts and remains beneficial owner of securities held by those trusts. The Form 4 was signed on behalf of Mr. Schifter under a Power of Attorney dated Nov 19, 2024.
• Transaction code: A = Award/Grant.

Context

• These are equity awards (stock units/RSU-like), meaning the director has rights to future shares rather than an immediate market purchase or sale. Because the units are deferred or scheduled to vest later, there is no immediate change in publicly tradable shares from these entries. Such grants are common director compensation and should be viewed as routine disclosure of pay, not a direct market buy/sell signal.