LPL Financial adopts proxy access bylaw for 3% holders

LPL Financial Holdings Inc.

New Section 1.12 allows stockholder or group of up to 20 stockholders owning at least 3% of common stock continuously for 3 years to nominate directors.
Nominees can constitute up to the greater of two directors or 20% of the Board.
Proxy access becomes effective after the 2022 annual meeting of stockholders.
Board also adopted clarifying and conforming changes to other sections of the bylaws.
Amendment follows a routine review of corporate governance policies.

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