What changed in this filing

/stocks — the workspaceLOADING

Item 3. Legal Proceedings

2025-02-20 compared with 2024-02-21 · 50 added, 63 removed, 57 unchanged (66% of the section changed)

8 unchanged sentences

Name Age Position

Arnold 59 President and Chief Executive Officer

Audette 49 Chief Financial Officer and Head of Business Operations

47 Managing Director, Chief Legal Officer

50 Managing Director, Chief Human Capital Officer

Richard Steinmeier

51 Chief Executive Officer

Audette 50 President and Chief Financial Officer

48 Managing Director, Chief Legal Officer and Corporate Secretary

38 Managing Director, Business Strategy & Innovation

51 Managing Director, Chief Human Resources Officer

Matthew Enyedi 51 Managing Director, Client Success

Greg Gates 47 Managing Director, Chief Technology & Information Officer

Aneri Jambusaria 40 Managing Director, LPL Services Group

Kabir Sethi 53 Managing Director, Chief Product Officer

Richard Steinmeier 50 Managing Director, Divisional President, Business Development

Aneri Jambusaria 41 Managing Director, Wealth Management

Executive Officers

Arnold — President and Chief Executive Officer

Arnold has served as our chief executive officer since January 2017.

He has served as our president since March 2015 with responsibility for our primary client-facing functions and long-term strategy for growth.

Arnold served as our chief financial officer from June 2012 to March 2015 and was responsible for formulating financial policy, leading our capital management efforts and ensuring the effectiveness of the organization’s financial functions.

Prior to 2012, he was managing director, head of strategy, with responsibility for long-term strategic planning for the firm, product and platform development and strategic investments, including acquisitions.

He has also served as divisional president of our Institution Services.

Arnold joined our Company in January 2007 following our acquisition of UVEST Financial Services Group, Inc.

Prior to joining us, Mr.

Arnold worked at UVEST for 13 years serving most recently as president and chief operating officer.

Arnold earned a B.S.

in electrical engineering from Auburn University and holds an M.B.A.

in finance from Georgia State University.

Audette — Chief Financial Officer and Head of Business Operations

Audette has served as our chief financial officer since 2015 and head of business operations since February 2023, with responsibility for the Company’s financial, risk, compliance and client operations functions.

He leads the Company’s financial planning and analysis, treasury, controllership, tax, internal audit, corporate development and investor relations functions.

In addition, he oversees the teams responsible for delivering operational speed and transparency, along with continued strong compliance and risk management, to the Company’s advisors and enterprises.

Since joining LPL Financial in 2015 as chief financial officer, Mr.

Audette has led corporate acquisitions, debt transactions, the client deposit portfolio, expense management and capital allocation.

In addition, he oversaw the LPL Services Group from May 2022 until February 2023.

Richard Steinmeier — Chief Executive Officer

Steinmeier has served as our chief executive officer since October 2024.

Prior to being appointed as our chief executive officer, Mr.

Steinmeier served as managing director, chief growth officer from May 2024 to October 2024 and as managing director and divisional president, business development of LPL Financial from August 2018 to May 2024.

In these roles, he had responsibility for recruiting new advisors and institutions to LPL Financial and to existing advisor practices, as well as exploring new markets and merger and acquisition opportunities.

Prior to joining LPL Financial, Mr.

Steinmeier served as managing director, head of digital strategy and platforms for UBS Wealth Management Americas from September 2017 to August 2018 and as managing director, head of the Emerging Affluent Segment and Wealth Advice Center from August 2012 to September 2017.

Prior to UBS, Mr.

Steinmeier held a variety of leadership roles at Merrill Lynch, most recently as managing director of the Merrill Edge Advisory Center from February 2009 to August 2012.

Prior to joining Merrill Lynch, he served as an engagement manager at McKinsey & Company from 2002 to 2006.

Steinmeier earned a B.S.

in economics from the Wharton School at the University of Pennsylvania and an M.B.A.

from Stanford University.

Audette — President and Chief Financial Officer

Audette has served as our chief financial officer since 2015 and president since October 2024.

In this role, he is responsible for the Company’s financial, risk, compliance, service and supervision, and client operations functions.

As chief financial officer, he leads the Company’s financial planning and analysis, treasury, controllership, tax, internal audit, corporate development and investor relations groups.

Audette joined LPL Financial in 2015 as chief financial officer and oversaw the LPL Services Group from May 2022 until February 2023 and was the head of business operations from February 2023 through October 2024.

Prior to joining LPL Financial, Mr.

Audette served as executive vice president and chief financial officer of E*TRADE Financial Corporation.

During his 16 years with E*TRADE, he was a key contributor in the growth of the franchise, leading a variety of corporate transactions and capital activities.

Audette began his career in the financial services practice at KPMG.

Audette began his career in financial services at KPMG.

Audette earned a B.S.

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

Althea Brown — Managing Director, Chief Legal Officer

Althea Brown — Managing Director, Chief Legal Officer and Corporate Secretary

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.

She is responsible for leading the firm’s corporate law and government relations, litigation and regulatory affairs, legal operations and legal technology She is also responsible for leading the teams that support the LPL Financial Charitable Foundation and community impact initiatives.

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

2 unchanged sentences

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.

Morgan Chase in their Investment Management and Investment Banking divisions.

Brown received a B.A.

2 unchanged sentences

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.

Marc Cohen – Managing Director, Business Strategy & Innovation

Cohen has served as managing director, business strategy & innovation since December 2024.

In this role, he is responsible for uniting strategy and innovation functions to continuously elevate the client experience.

This organization includes the development of the firm’s corporate strategy including business line and affiliation strategy for independent advisors, large enterprises and institutional channels, as well as LPL Business Services and the Emerging Solutions lab.

Cohen joined LPL Financial in 2018 to help lead the firm’s development of new advisor affiliation models, expanding its attractiveness to wirehouse breakaways and RIAs.

From there, his role evolved to run corporate strategy and further develop creative and innovative ways for the Company to partner with advisors throughout their lifecycle, including the firm’s Liquidity & Succession offering.

Prior to joining LPL Financial, Mr.

Cohen was already developing deep relationships in the industry from his early career roles as an intern through to becoming chief operating officer at MarketCounsel.

Cohen earned a B.Accy.

in Accountancy from The George Washington University.

Sara Dadyar — Managing Director, Chief Human Resources Officer

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

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

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

6 unchanged sentences

Enyedi has served as managing director, client success since February 2023.

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

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 institutions.

Under this organization, the relationship/field management, liquidity and succession, client insights and experience, and business design and execution teams focus on defining and maximizing the success of the Company’s clients.

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

8 unchanged sentences

In this role he is responsible for managing all aspects of the Company’s technology and systems applications.

He leads an information technology organization responsible for delivering technology solutions and market-leading platforms that enable positive, compelling experiences for our advisors, enterprises and employees.

Gates joined LPL Financial in 2018 with nearly two decades of senior-level management experience focused on the application of technology to solve business challenges on a global scale.

4 unchanged sentences

in biomedical engineering from Vanderbilt University and has successfully completed multiple leadership, continuing education and certification programs from several organizations.

Aneri Jambusaria – Managing Director, LPL Services Group

Jambusaria has served as managing director, LPL Services Group since February 2023.

In this role, she is responsible for the development and delivery of LPL Financial’s portfolio of business services, planning and advice services, and value-added consultation functions, which address key challenges advisors and enterprises face in serving investors and operating their businesses.

Jambusaria joined LPL Financial in 2020 as executive vice president, strategy and new ventures and transitioned into an expanded role in 2021 to lead the LPL Services Group.

Aneri Jambusaria – Managing Director, Wealth Management

Jambusaria has served as managing director, wealth management since December 2024.

In this role, she leads the wealth management organization, which is responsible for delivering a portfolio of solutions that enable advisors and institutions to offer a differentiated end-to-end wealth management experience for their clients.

wealth management organization is committed to building the core of the advisor value proposition with capabilities spanning investment, advisory, banking and lending, trading, trust, insurance and financial planning to enable the most successful wealth practices in the industry.

Jambusaria joined LPL Financial in 2020 as executive vice president, strategy and new ventures and transitioned into an expanded role in 2021 to lead the LPL Services Group, including serving as managing director, LPL Services Group from February 2023 to March 2024 and managing director, business & wealth solutions from March 2024 to December 2024.

Prior to joining LPL Financial, Ms.

5 unchanged sentences

from Northwestern University’s Kellogg School of Management.

Kabir Sethi — Managing Director, Chief Product Officer

Sethi has served as managing director, chief product officer of LPL Financial since May 2022.

He is responsible for LPL Financial’s technology platforms and wealth management offerings, ensuring the delivery of innovative products to advisors and clients.

In this role, he provides strategic leadership and direction to the wealth management solutions, investment research, investor product experience, advisor technology products, and data and analytics teams, who are focused on delivering wealth solutions and digital capabilities for our advisors and enterprises, to enable them to continue driving growth and productivity in all areas of their businesses.

Prior to joining LPL Financial, Mr.

Sethi spent 18 years at Merrill Lynch, at which he held several leadership positions, including managing director in Bank of America’s Global Wealth & Investment Management division.

He also served as head of Digital for Merrill Lynch Wealth Management and was responsible for digital platforms, including the financial advisor experience, wealth planning, and social media.

Sethi earned a B.A.

in economics from St.

Stephen’s College at Delhi University, an M.I.B.

from Columbia University, and an M.B.A.

from Indian Institute of Management.

Richard Steinmeier — Managing Director, Divisional President, Business Development

Steinmeier has served as managing director and divisional president, business development of LPL Financial since August 2018.

In this role, he has responsibility for recruiting new advisors and enterprises to LPL Financial and to existing advisor practices, as well as exploring new markets and merger and acquisition opportunities.

Prior to joining LPL Financial, Mr.

Prior to UBS, Mr.

Steinmeier held a variety of leadership roles at Merrill Lynch, most recently as managing director of the Merrill Edge Advisory Center from February 2009 to August 2012.

Prior to joining Merrill Lynch, he served as an engagement manager at McKinsey & Company from 2002 to 2006.

Steinmeier earned a B.S.

in economics from the Wharton School at the University of Pennsylvania and an M.B.A.

from Stanford University.

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