secwatch.observer — SEC 8-K summary
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Issuer:     LPL Financial Holdings Inc. (LPLA)
CIK:        0001397911
Form:       8-K
Filed at:   2024-12-09T23:59:59+00:00
Accession:  0001397911-24-000164
Event type: leadership
Sentiment:  negative
Materiality: 0.60
Item codes: 5.02
LLM model:  deepseek-v4-flash:cloud@v2

LPL Financial settles with former CEO Dan Arnold; retains $12M in options
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- Arnold retains 47,994 options valued at $12.0M ($327.56/share); forfeits 98,432 options.
- Retained options exercisable from Dec 16 to Dec 31, 2024 only.
- Settlement includes non-competition, non-disparagement, non-solicitation through Sept 30, 2025.
- No severance benefits paid; retained options equal 15% of termination-without-cause package.
- Arnold was terminated for cause on Oct 1, 2024; all other equity awards forfeited.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1397911/000139791124000164/0001397911-24-000164-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1397911/000139791124000164/lpla-20241208.htm
  HTML page:      https://secwatch.observer/filing/0001397911-24-000164

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