UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM
CURRENT REPORT
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| Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
As previously disclosed, on May 3, 2025, Althea Brown submitted her resignation as the Chief Legal Officer and Corporate Secretary of LPL Financial Holdings Inc. (the “Company”).
On July 2, 2025, the Company entered into a Consulting Agreement (the “Consulting Agreement”) with Ms. Brown pursuant to which she agreed to provide certain consulting services to the Company, including supporting the transition of her responsibilities as the Company’s chief legal officer to her interim successor, until September 20, 2025 (the “Term”). Under the terms of the Consulting Agreement, Ms. Brown’s obligation to repay approximately $270,000 related to her sign-on bonus and reimbursed relocation expenses pursuant to her offer letter from the Company will be waived. In addition, as a result of Ms. Brown’s continuing service relationship with the Company under the terms of the Consulting Agreement, her previously issued and outstanding restricted stock units will continue to vest according to their terms for the duration of the Term. The Consulting Agreement also contains a general release of claims by Ms. Brown with respect to claims against the Company.
A copy of the Consulting Agreement is filed with this Current Report on Form 8-K as Exhibit 10.1 and is incorporated by reference herein.
| Item 9.01. | Financial Statements and Exhibits. |
(d) Exhibits
| Exhibit |
Description | |
| 10.1 | Consulting Agreement, dated July 2, 2025, between Althea Brown and LPL Financial LLC | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). | |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| LPL FINANCIAL HOLDINGS INC. | ||||
| By: | /s/ Robert S. Hatfield III | |||
| Name: | Robert S. Hatfield III | |||
| Title: | Secretary | |||
Dated: July 3, 2025