What changed in this filing

/stocks — the workspaceLOADING

Item 3. Legal Proceedings

2026-02-23 compared with 2025-02-20 · 61 added, 49 removed, 58 unchanged (65% of the section changed)

10 unchanged sentences

52 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 41 Managing Director, Wealth Management

Matthew Audette

51 President and Chief Financial Officer

39 Group Managing Director, Chief Growth Officer

Matthew Enyedi 52 Group Managing Director, Chief Client Officer

37 Group Managing Director, Chief People Officer

Greg Gates 48 Group Managing Director, Chief Technology & Information Officer

Aneri Jambusaria 42 Group Managing Director, Chief Wealth Officer

Matthew Morningstar

50 Group Managing Director, Chief Legal Officer

Executive Officers

3 unchanged sentences

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.

In these roles, he was responsible 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.

6 unchanged sentences

from Stanford University.

Audette — President and Chief Financial Officer

Matthew 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.

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

6 unchanged sentences

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

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 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.

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.

Morgan 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.

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.

Marc Cohen – Group Managing Director, Chief Growth Officer

Cohen has served as group managing director, chief growth officer since October 2025.

Prior to this role, Mr.

Cohen served as group managing director, business strategy and innovation, from December 2024 to October 2025.

As chief growth officer, he is responsible for uniting organic growth efforts with the Company’s strategic priorities.

This organization includes the development of the Company’s corporate strategy including channel and affiliation strategy as well as LPL Solutions and the Company’s recruiting and transition teams.

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.

4 unchanged sentences

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.

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

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 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.

Matthew Enyedi — Group Managing Director, Chief Client Officer

Enyedi has served as group managing director, chief client officer since July 2025.

Prior to this role, Mr.

Enyedi served as group managing director, client success from February 2023 to July 2025.

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

Enyedi leads success management, same store sales growth strategy and programs, succession, affiliation and lifestyle solutions, and business solutions distribution.

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.

He served as managing director, business solutions from November 2020 to April 2022, with responsibility for developing and deploying the platform of professional services for advisors now included in the LPL Services Group.

Prior to that, he led LPL Financial’s national sales and wealth management organizations and was responsible for data analytics and accelerating the organic growth of the Company’s advisors across planning, advisory, brokerage and retirement plan services.

Prior to that, he led LPL Financial’s national sales and wealth management organizations and was responsible for accelerating the organic growth of the Company’s advisors across planning, advisory, brokerage and retirement plan services.

Prior to joining LPL Financial in 2003, he worked as a financial advisor with UBS PaineWebber.

2 unchanged sentences

He earned the Certified Investment Management Analyst® designation from the Haas School of Business at the University of California, Berkeley.

Greg Gates — Managing Director, Chief Technology & Information Officer

Gates has served as managing director, chief technology & information officer of LPL Financial since July 2021.

Emily Field — Group Managing Director, Chief People Officer

Field has served as group managing director, chief people officer of LPL Financial since August 2025.

In this role she is responsible for the Company’s human resources function and for delivering an exceptional employee experience for the Company’s approximately 10,000 employees.

Field champions data-driven talent management as a key differentiator and elevates the role of human resources as a strategic partner to the business to enable the Company’s objectives.

Prior to joining LPL Financial, Ms.

Field held various roles at McKinsey & Company from October 2017 to July 2025, most recently as a partner in the people and organizational performance practice where she led enterprise-scale organizational transformations for large companies and global institutions.

Prior to working at McKinsey, Ms.

Field held various roles in Accenture’s talent and organization practice where she led change management programs, global research initiatives and developed culture transformation and M&A integration strategies.

She co-authored a book titled Power to the Middle:

Why Managers Hold the Keys to the Future of Work and regularly contributes to McKinsey’s “Women in the Workplace” report and other leading publications and podcasts.

Field earned her B.A.

in government from Georgetown University.

Greg Gates — Group Managing Director, Chief Technology & Information Officer

Gates has served as group managing director, chief technology & information officer of LPL Financial since July 2021.

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, institutions 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, 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.

Aneri Jambusaria – Group Managing Director, Chief Wealth Officer

Jambusaria has served as group managing director, chief wealth officer since July 2025.

Prior to this role, Ms.

Jambusaria served as group managing director, wealth management from December 2024 to July 2025.

As chief wealth officer, 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.

The 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 group managing director, LPL Services Group from February 2023 to March 2024 and group managing director, business & wealth solutions from March 2024 to December 2024.

Prior to joining LPL Financial, Ms.

Jambusaria held various positions at Fidelity Investments, most recently as head of the Planning Office for Enterprise Strategy and Planning.

Jambusaria held various positions at Fidelity Investments, most

recently as head of the Planning Office for Enterprise Strategy and Planning.

During her nine years at Fidelity, she helped shape strategy for business lines while gaining a strong understanding of wealth management and the products, solutions and technologies that serve investors.

3 unchanged sentences

from Northwestern University’s Kellogg School of Management.

Matthew Morningstar – Group Managing Director, Chief Legal Officer

Morningstar has served as group managing director, chief legal officer since December 2025.

In this role, he oversees the legal, policy and community impact teams, driving strategic legal guidance, public policy engagement and community initiatives across the Company.

Prior to this role, from July 2024 until November 2025, Mr.

Morningstar was chief counsel of litigation and M&A legal at MetLife, where he led global strategy and execution for strategic transactions, litigation and regulatory enforcement matters.

Before joining MetLife, Mr.

Morningstar was the head of advisory and commercial legal as well as the head of litigation and regulatory affairs for LPL Financial from September 2021 until July 2024 and oversaw litigation, arbitration, regulatory enforcement, special investigations and early dispute resolution across the Company.

Morningstar previously held various positions at Morgan Stanley for over 15 years and most recently worked as the head of litigation and regulatory enforcement for its investment management division.

Morningstar earned his B.A.

in religion from Columbia University and his J.D.

from Cornell Law School.

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