What changed in this filing

/stocks — the workspaceLOADING

Item 3. Legal Proceedings

2024-02-21 compared with 2023-02-23 · 24 added, 54 removed, 96 unchanged (45% of the section changed)

5 unchanged sentences

Not applicable.

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Information about our Executive Officers

On February 16, 2023, the Company announced an organizational realignment of certain business functions in support of its client experience.

The following table provides certain information about each of the Company’s executive officers as of the date this Annual Report on Form 10-K has been filed with the SEC:

2 unchanged sentences

Audette 49 Chief Financial Officer and Head of Business Operations

47 Managing Director, Chief Legal Officer

50 Managing Director, Chief Human Capital Officer

Matthew Enyedi 50 Managing Director, Client Success

1 unchanged sentence

Aneri Jambusaria 40 Managing Director, LPL Services Group

69 Managing Director, Chief Human Capital Officer

Michelle Oroschakoff (1)

61 Managing Director, Chief Legal Officer

Dayton Semerjian (2)

58 Managing Director, Chief Customer Care Officer

Kabir Sethi 53 Managing Director, Chief Product Officer

Richard Steinmeier 50 Managing Director, Divisional President, Business Development

____________________

Larsen and Ms.

Oroschakoff will be retiring from the Company in 2023.

Semerjian will be departing the Company in March 2023.

Executive Officers

24 unchanged sentences

in accounting from Virginia Polytechnic Institute and State University, popularly known as Virginia Tech.

Althea Brown — Managing Director, Chief Legal Officer

Brown has served as managing director, chief legal officer since September 2023.

She is responsible for company-wide legal, regulatory and government relations matters and has a leading role in LPL Financial’s ongoing focus on enhancing the corporate risk profile.

Brown has more than 25 years of experience in the financial services, technology and retail industries, leading high-performing legal teams for large corporations.

She joined LPL Financial from Google, where she spent 11 years, serving most recently as Legal Director, overseeing a large team of product and commercial lawyers advising subsidiary Fitbit and Google’s Devices and Services’ marketing, e-commerce, retail, customer support, and vendor management teams.

Earlier in her career, Ms.

Brown served as supervising attorney for Morgan Stanley Smith Barney, and spent 10 years in a variety of roles at J.P.

Chase in their Investment Management and Investment Banking divisions.

Brown received a B.A.

in economics and French from New York University and a J.D.

from Fordham University School of Law.

She holds a Six Sigma Black Belt and is a Fellow with the Leadership Council on Legal Diversity.

Sara Dadyar — Managing Director, Chief Human Capital Officer

Dadyar has served as managing director, chief human capital officer of LPL Financial since January 2024.

She is responsible for overseeing human resources, talent development, corporate real estate, total rewards and talent acquisition, advisor and employee learning and development, culture and engagement, and diversity, equity, inclusion and belonging.

Dadyar joined LPL Financial in January 2024 from Proterra Inc., where she served as the chief people officer from October 2022 to December 2023.

Prior to Proterra, Ms.

Dadyar worked at GE for over 24 years, including as the executive Human Resources leader for GE Gas Power and GE Capital Americas, global executive director of Human Resources for GE Working Capital Solutions, and senior Human Resources director of GE Media, Communications and Entertainment.

Dadyar earned a B.A.

in art history from the University of Connecticut and completed M.S.

coursework in human resources management from Manhattanville College.

Matthew Enyedi — Managing Director, Client Success

1 unchanged sentence

The client success organization is a client-centered, cross-functional team responsible for fueling the sustained success and satisfaction of the Company’s advisors and enterprises.

Under this organization, the relationship management, marketing and

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communications, service and supervision teams focus on providing an integrated and consistent experience across clients’ primary touchpoints with LPL.

Under this organization, the relationship management, marketing and communications, service and supervision teams focus on providing an integrated and consistent experience across clients’ primary touchpoints with LPL.

Enyedi served as managing director, national sales and marketing from April 2022 to February 2023, with responsibility for growing the Company’s client relationships.

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from Northwestern University’s Kellogg School of Management.

Larsen — Managing Director, Chief Human Capital Officer

Larsen is managing director, chief human capital officer of LPL Financial.

She is responsible for overseeing human resources, executive communication, talent development, corporate real estate, total rewards and talent acquisition, advisor and employee learning and development, and diversity, equity and inclusion.

Larsen joined LPL Financial in May 2012 from the Federal Home Loan Bank/Office of Finance, where she served as the chief human resources officer from November 2009 to April 2012.

In earlier roles, Ms.

Larsen was a managing vice president of human resources for Capital One Financial Corporation, senior vice president of human resources for Marriott International and vice president of human resources and communications for TRW Inc.

Larsen earned a M.A.

in communications from Purdue University, a B.A.

in sociology from California Lutheran University and a certificate in executive leadership coaching from Georgetown University.

Michelle Oroschakoff — Managing Director, Chief Legal Officer

Oroschakoff is managing director, chief legal officer of LPL Financial.

She is responsible for company-wide legal, regulatory and government relations matters and has a leading role in LPL Financial’s ongoing focus on enhancing the corporate risk profile.

Oroschakoff has more than 20 years of financial services industry experience in legal, compliance and risk management, including leading the Company’s compliance and risk management functions from 2013 to February 2023.

She joined LPL Financial as managing director, chief risk officer in September 2013 from Morgan Stanley, and was promoted to chief legal and risk officer in June 2017.

She became chief legal officer in June 2018.

At Morgan Stanley, she most recently served as managing director and

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global chief risk officer of the firm’s Global Wealth Management Group from 2011 to 2013.

Previously, while with Morgan Stanley, she served as chief administrative officer from 2010 to 2011, as well as chief compliance officer from 2006 to 2010.

Earlier in her career, Ms.

Oroschakoff spent 11 years in a variety of legal and compliance roles at Morgan Stanley, including associate general counsel and head of the firm’s San Francisco litigation department.

She also served as the general counsel for a large and successful RIA firm where she became familiar with the independent model.

She is the President of the SIFMA Compliance and Legal Executive Committee.

Oroschakoff earned a B.A.

in English literature from the University of Oregon and a J.D., with honors, from the University of Michigan.

Dayton Semerjian — Managing Director, Chief Customer Care Officer

Semerjian has served as managing director, chief customer care officer of LPL Financial since February 2019.

He has been responsible for LPL Financial’s customer satisfaction and client-centric efforts and led Service, Trading and Operations, LPL Financial’s largest business unit.

As a result of the organizational realignment announced in February 2023, Mr.

Semerjian will depart the Company effective March 31, 2023.

Before joining LPL Financial, Mr.

Semerjian was general manager and senior vice president for Global Customer Success at CA Technologies Inc., which he joined in 2005 when the firm acquired Concord Communication Inc.

At Concord, he was executive vice president of marketing and strategic alliances.

Semerjian also gained experience leading firms in adopting new service models that focus on improving the customer experience at scale through leadership roles at Intel Corp., Nation Street Inc.

and Corente Inc., which was acquired by Oracle.

Semerjian received a B.B.A.

in marketing and management from the University of Massachusetts and an M.B.A.

from Harvard Business School.

He was also awarded an advanced certificate of executive management by the MIT Sloan School of Management.

Kabir Sethi — Managing Director, Chief Product Officer

21 unchanged sentences

from Stanford University.

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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 3. Legal Proceedings