UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
June 1, 2018
Date of report (date of earliest event reported)
LPL Financial Holdings Inc.
(Exact name of registrant as specified in its charter)
Delaware | 001-34963 | 20-3717839 |
(State or other jurisdictions of incorporation or organization) | (Commission File Number) | (I.R.S. Employer Identification Nos.) |
75 State Street, Boston MA 02109
(Address of principal executive offices) (Zip Code)
(617) 423-3644
(Registrant's telephone number, including area code)
N/A
(Former Name or Former Address, if Changed since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrants under any of the following provisions:
o | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
o | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
o | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
o | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter)
Emerging growth company o
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o
Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. | |
On June 1, 2018, Allison H. Mnookin was elected as a director of LPL Financial Holdings Inc. (the “Company”) and appointed as a member of the compensation and human resources committee of the board of directors of the Company (the “Board”).
The Board has determined that Ms. Mnookin is independent under applicable standards of the Nasdaq Stock Market and Securities and Exchange Commission.
Ms. Mnookin will be entitled to a pro-rated annual retainer under the Company’s non-employee director compensation policy (“Policy”). She was granted restricted shares of the Company’s common stock on June 1, 2018, in an amount determined under the Policy. The restricted shares will vest in full on May 7, 2019.
Item 7.01 | Regulation FD Disclosure. | |
A copy of the press release issued by the Company in connection with Ms. Mnookin’s election is furnished with this Form 8-K and attached hereto as Exhibit 99.1.
The information presented under this Item 7.01 and Exhibit 99.1 shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities under that Section and shall not be deemed to be incorporated by reference into any filing of the Company under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing.
Item 9.01 | Financial Statements and Exhibits. | ||
(d) | Exhibits | ||
99.1 | |||
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/ Gregory M. Woods | |
Name: Gregory M. Woods | ||
Title: Secretary | ||
Dated: June 4, 2018
 | Exhibit 99.1 | |||
For Immediate Release | ||||
LPL FINANCIAL ELECTS ALLISON MNOOKIN AS NEW INDEPENDENT DIRECTOR
CHARLOTTE, N.C. - June 4, 2018 - LPL Financial Holdings Inc. (NASDAQ: LPLA) today announced that Allison H. Mnookin has been elected to the company’s board of directors.
Mnookin joins LPL’s board with two decades of experience as a technology executive for high-growth business software companies. She most recently served as CEO of QuickBase Inc., a provider of online application software which was formerly a division of Intuit, Inc. Prior to leading QuickBase, she held several positions at Intuit, including general manager in Intuit’s small business division where she was responsible for leading a portfolio of Intuit’s business products, including QuickBooks. She was also instrumental in the early formation and growth of Quicken Loans.
Prior to joining Intuit, she held several sales and marketing positions with Oracle Corporation. Mnookin is currently a senior lecturer of business administration in the technology and operations management unit at the Harvard Business School and serves as a director of QuickBase.
“I am excited to welcome Allison as a director,” said James Putnam, chair of the Board. “She brings to the board an entrepreneurial mindset and a strong understanding of how businesses have transformed their technology from a utility to a strategic asset.”
“It is an honor to be elected,” said Mnookin. “I look forward to working with the board and management as LPL evolves the digital experience of its advisors and their clients.”
About LPL Financial
LPL Financial is a leader in the retail financial advice market and the nation’s largest independent broker/dealer*. The firm serves independent financial advisors and financial institutions, providing them with the technology, research, clearing and compliance services, and practice management programs they need to create and grow thriving practices. LPL enables them to provide objective guidance to millions of American families seeking wealth management, retirement planning, financial planning and asset management solutions.
LPL.com
Securities and Advisory Services offered through LPL Financial. A registered investment advisor, Member FINRA/SIPC.
*Based on total revenues, Financial Planning magazine, June 1996-2017
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Media Contact:
Jeff Mochal
(704) 733-3589
Jeffrey.Mochal@lpl.com