LPL Financial (LPLA) Form 4 LPL Financial / Dan H. Arnold ownership change

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Arnold Dan H.

(Last) (First) (Middle)

C/O LPL FINANCIAL HOLDINGS INC.

4707 EXECUTIVE DRIVE

(Street)

SAN DIEGO CA 92121

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
LPL Financial Holdings Inc. [ LPLA ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
X	Officer (give title below)	Other (specify below)
President & CEO

3. Date of Earliest Transaction (Month/Day/Year)
08/11/2020

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	08/11/2020		M(1)		12,753	A	$45.55	224,911.94	D
Common Stock	08/11/2020		M(1)		1,999	A	$54.81	226,910.94	D
Common Stock	08/11/2020		S(2)		14,752	D	$85.29(3)	212,158.94	D
Common Stock	08/13/2020		M(1)		400	A	$45.55	212,558.94	D
Common Stock	08/13/2020		S(2)		400	D	$85.05(4)	212,158.94(5)	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Option to purchase Common Stock	$45.55	08/11/2020		M(1)			12,753	(6)	03/06/2025	Common Stock	12,753	$0	12,609	D
Option to purchase Common Stock	$54.81	08/11/2020		M(1)			1,999	(7)	02/24/2024	Common Stock	1,999	$0	18,233	D
Option to purchase Common Stock	$45.55	08/13/2020		M(1)			400	(6)	03/06/2025	Common Stock	400	$0	12,209	D

Explanation of Responses:

1. The stock option exercises reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on June 10, 2020

2. The sale reported in this Form 4 was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on June 10, 2020.

3. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $85.00 to $85.63, 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 (3) to this Form 4.

4. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $85.00 to $85.13, 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 (4) to this Form 4.

5. Consists of (i) 171,738.94 shares of Common Stock; (ii) 25,873 restricted stock units that vest ratably on each of February 13, 2021 and February 13, 2022; and (iii) 14,547 restricted stock units that vest ratably on each of February 25, 2021, February 25, 2022 and February 25, 2023.

6. This option became exercisable in three installments, beginning March 6, 2016, which was the first anniversary of the date on which it was granted. The option became fully vested on March 6, 2018.

7. This option became exercisable in three installments, beginning February 24, 2015, which was the first anniversary of the date on which it was granted. The option became fully vested on February 24, 2017.

Remarks:

The signatory is signing on behalf of Dan H. Arnold pursuant to a Power of Attorney dated March 15, 2017.

	/s/ Gregory M. Woods, attorney-in-fact	08/13/2020
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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