01—Abstract
Summary
Summary of the 8-K filed March 6, 2025. Cited figures are marked; the original filing is the authoritative source.
LPL Financial Holdings Inc. filed this Form 8-K on March 6, 2025 under Item 5.02, reporting executive leadership and compensation changes.
On February 28, 2025, the Board of Directors appointed Katharine Reeping, age 48, as Chief Accounting Officer. Effective with her appointment, she serves as the Company's principal accounting officer, reporting to Matthew Audette, President and Chief Financial Officer and principal financial officer, who previously held the principal accounting officer role. Ms. Reeping has been Senior Vice President, Corporate Controller at the Company since August 2022.
Her prior roles include Senior Vice President of Financial Reporting & Analysis at PNC (May 2018 to June 2022), Vice President of Financial Reporting at PNC (May 2014 to May 2018), and about ten years at E*TRADE Financial. She began her career at Deloitte, holds a bachelor's degree in Accounting from Penn State University, is a certified public accountant, and holds a Series 99 designation.
The filing also states that, effective March 3, 2025, the Company approved compensation for Ms. Reeping with total target annual compensation of $874,000,a consisting of a $380,000 annual base salary, a $228,000 target annual cash bonus opportunity, and a target annual long-term incentive award with a grant date value of $266,000. For investors, the filing is primarily a routine succession and compensation disclosure rather than a change in financial results or strategy.
02—Key points
Key Highlights
- Katharine Reeping appointed Chief Accounting Officer by the Board effective February 28, 2025, and now serves as principal accounting officer
- Matthew Audette, President and Chief Financial Officer, previously served as principal accounting officer and now oversees Ms. Reeping
- Ms. Reeping has been Senior Vice President, Corporate Controller at LPL since August 2022
- Prior experience includes roles at PNC (2014 to 2022) and about ten years at E*TRADE Financial, after starting at Deloitte
- Total target annual compensation of $874,000: $380,000 base salary, $228,000 target cash bonus, and $266,000 target long-term incentive grant value
- Compensatory arrangements approved effective March 3, 2025
03—Questions
Frequently Asked Questions
Who is the new Chief Accounting Officer at LPL Financial?
Katharine Reeping, age 48, was appointed by the Board of Directors on February 28, 2025. She has served as the Company's Senior Vice President, Corporate Controller since August 2022.
Who does the new Chief Accounting Officer report to?
Ms. Reeping reports to Matthew Audette, the Company's President and Chief Financial Officer and principal financial officer. Mr. Audette previously served as the principal accounting officer.
What are Ms. Reeping's qualifications?
She has over two decades of experience in finance and controls functions. She is a certified public accountant, holds a Series 99 designation, and earned a bachelor's degree in Accounting from Penn State University.
What compensation was approved for Ms. Reeping?
Effective March 3, 2025, the Company approved total target annual compensation of $874,000, including a $380,000 base salary, a $228,000 target annual cash bonus, and a target long-term incentive award with a grant date value of $266,000.
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