Lpl Financial Holdings Inc

1. 1

   Election of Directors

   ManagementBoard: FOR

   Elect the 11 nominees named in the proxy statement to the Board of Directors for terms ending at the 2027 annual meeting.

2. 2

   Ratification of the Appointment of Deloitte & Touche LLP

   ManagementBoard: FOR

   Ratify the appointment of Deloitte & Touche LLP by the Audit and Risk Committee as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2026.

3. 3

   Approval, in an Advisory Vote, of the Compensation Paid to Our Named Executive Officers

   ManagementBoard: FOR

   Advisory (non-binding) approval of the compensation paid to the Company’s named executive officers as disclosed in the proxy statement.

   More detail

   This non-binding advisory proposal asks stockholders to approve the Company’s 2025 executive compensation disclosures and the compensation decisions reflected therein. Management seeks this vote (a ‘say-on-pay’) to obtain stockholder feedback on pay-for-performance alignment and to inform future compensation setting; the Compensation Committee will consider the outcome when making future compensation decisions. The Company’s 2025 program emphasized a mix of annual cash bonuses tied to Incentive EBITDA and business goals and long-term incentive awards (a blend of performance stock units tied to relative TSR and time-based RSUs) to align executive pay with multi-year stockholder returns. In 2025 the Board and Compensation Committee increased certain target award levels for NEOs and shifted LTI mix toward PSUs for stronger performance alignment; the Company’s Incentive EBITDA and relative TSR performance produced above-target bonus pool funding and above-target payouts for NEOs. The Board presents the proposal as advisory; it does not change compensation but signals whether stockholders support the Compensation Committee’s approach, metrics and outcomes. The Board recommends a FOR vote on the basis that the program ties pay to both short-term operational goals and long-term relative TSR, incorporates clawback and ownership guidelines, and uses multi-year PSUs to emphasize sustained value creation. Key governance context includes robust benchmarking, independent consultant involvement, anti-hedging/anti-pledging rules, and clawback policies; critics may point to high absolute levels of pay or year-over-year increases, but management argues those levels reflect market competitiveness and strong company performance in 2025. In evaluating the proposal, investors should weigh the Company’s disclosed pay design, the Compensation Committee’s process and discretion, realized pay outcomes (including PSU payouts and bonus funding), and how changes in LTI design affect longer-term alignment with peers and TSR outcomes.

4. 4

   Adoption of an Amendment and Restatement of Our Charter to Eliminate Supermajority Voting Requirements, Eliminate Obsolete Provisions and Make Certain Non-Substantive Changes

   ManagementBoard: FOR

   Adopt an amendment and restatement of the Company’s Certificate of Incorporation to replace certain supermajority voting requirements with majority voting, remove obsolete sponsor-era provisions, and make non-substantive clarifying changes.

   More detail

   This management-sponsored proposal asks stockholders to approve a comprehensive amendment and restatement of the Company’s charter to remove entrenched supermajority voting thresholds and obsolete sponsor-era provisions and to make non-substantive clarifying edits. Management’s rationale, as conveyed by the Nominating and Governance Committee and the Board, is that supermajority requirements are increasingly disfavored by many investors and that eliminating them will modernize governance and improve clarity without removing other charter protections or Delaware statutory safeguards. The Board balanced the trade-offs: supermajority provisions can deter opportunistic acquirers and protect continuity, but they can also entrench existing management and reduce accountability; management argues the Company retains other governance tools and Delaware law protections to address opportunistic or undervalued offers. Notably, the amendment’s adoption itself currently requires a 66 2/3% affirmative vote, reflecting the existing supermajority structure that must be overcome to eliminate the provision — a common pattern in de-supermajority proposals. For investors, the practical effects are to lower the shareholder threshold for certain charter and bylaw changes in the future, increasing the ability of a simple majority to enact corporate governance amendments and altering the calculus for activist or control transactions. The Board recommends FOR, arguing the change aligns with peer practice and investor preferences and will simplify the charter; opponents might view the change as lowering barriers to change that previously protected minority interests or long-term strategic plans. In assessing merit, sophisticated investors should consider the Company’s historical ownership structure (including former sponsor holdings), the current shareholder base, potential takeover defenses that remain in place, and whether a shift to majority vote meaningfully changes the balance between board stability and shareholder accountability in the Company’s specific context.

5. 5

   Adoption of Amendments to Our Charter to Provide for Officer Exculpation

   ManagementBoard: FOR

   Adopt amendments to the Charter to add officer exculpation to the fullest extent permitted by Delaware law, limiting monetary liability of certain officers for breaches of the duty of care (subject to exceptions).

   More detail

   This management proposal would amend the charter to add express exculpation for certain corporate officers for monetary damages for breaches of the duty of care, to the fullest extent permitted by Delaware law following the 2022 DGCL amendment. Management contends the change narrows exposure to meritless or hindsight-driven litigation against officers, aligns officer protections with those already provided to directors, and helps recruit and retain senior talent by reducing personal liability risk. The amendment explicitly preserves important exceptions: exculpation would not cover breaches of the duty of loyalty, intentional misconduct, knowing violations of law, or derivative claims on behalf of the corporation; equitable remedies remain available. For investors, the critical considerations are whether limiting monetary liability for duty-of-care claims materially reduces accountability or simply reduces nuisance litigation and associated costs that the company or its insurers ultimately bear. The Board argues the practical effect is positive: it focuses enforcement on egregious misconduct while minimizing distraction and defense costs from frivolous suits, and many peers have adopted similar provisions. Detractors may worry about insulating executives from accountability for negligent conduct; however, fiduciary duties of loyalty and other legal remedies (including equitable relief and director oversight) remain intact. The amendment requires only a majority vote for approval (subject to applicable procedural conditions), and management emphasizes that the change is narrow in scope and consistent with modern governance practices among large public companies. Sophisticated evaluators should weigh the company’s governance context, D&O insurance coverage, indemnification practices, and how often duty-of-care-only claims have arisen in practice.

6. 6

   Adoption of Amendments to Our Charter to Remove the Corporate Opportunities Provision

   ManagementBoard: FOR

   Adopt amendments to the Charter to eliminate the existing renouncement of corporate opportunities (Article X), thereby removing the provision that previously allowed certain non-employee directors and legacy sponsors to pursue opportunities without presenting them to the Company.

   More detail

   This management proposal would delete the charter provision that renounces corporate opportunities for certain ‘Exempted Persons’ (non-employee directors and the Company’s former sponsor holders and their affiliates). Historically, that renouncement reflected the Company’s earlier ownership structure when sponsor entities held substantial blocks and the carve-out was intended to avoid conflicts; management argues the provision is now outdated because sponsor ownership is no longer dominant and the Company has matured and diversified its shareholder base. Removing the renouncement would restore the customary Delaware default — that officers and directors owe a duty of loyalty and must present corporate opportunities to the company — while preserving transitional protections for opportunities known prior to amendment. The Board contends repeal aligns the Charter with peer practice and investor expectations (Deal Point Data shows few large companies retain such renouncements) and better aligns standards for non-employee directors with those for officers. From a governance perspective, restoring the corporate-opportunity doctrine can strengthen fiduciary accountability but may raise concerns about potential conflicts when directors or their affiliates pursue related deals; the Company addresses this through disclosure obligations and committee processes. The proposal requires an 80% affirmative vote to pass, reflecting the elevated threshold currently embedded in the Charter for changing that provision. Investors should evaluate the change in the context of the Company’s ownership structure, historical use of the renouncement, and the degree to which the amendment could affect future transactions involving directors or former sponsors.

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When is the Lpl Financial Holdings Inc 2026 annual meeting?

Lpl Financial Holdings Inc (LPLA) holds its 2026 annual shareholder meeting on Thursday, May 14, 2026.

What is the record date for the Lpl Financial Holdings Inc 2026 meeting?

The record date for the Lpl Financial Holdings Inc 2026 meeting is Monday, March 16, 2026. Shareholders of record on or before that date are eligible to vote.

Who are the director nominees for Lpl Financial Holdings Inc's 2026 meeting?

The board is presenting 11 director nominees at the Lpl Financial Holdings Inc 2026 meeting, listed with their independence status and background.

What proposals will shareholders vote on at the Lpl Financial Holdings Inc 2026 meeting?

Shareholders will vote on 6 proposals at the Lpl Financial Holdings Inc 2026 meeting, each tagged with who proposed it and the board's recommendation.