01—Abstract
Summary
Summary of the 8-K filed May 23, 2025. Cited figures are marked; the original filing is the authoritative source.
LPL Financial Holdings Inc. filed this Form 8-K to report the results of its 2025 annual meeting of stockholders, held on May 22, 2025, under Item 5.07 (Submission of Matters to a Vote of Security Holders).
Stockholders elected all ten director nominees to serve until the 2026 annual meeting. The nominees were Edward C. Bernard, H.
Paulett Eberhart, William F. Glavin, Jr., Albert J. Ko, Allison H.
Mnookin, Anne M. Mulcahy, James S. Putnam, Richard P.
Schifter, Richard Steinmeier, and Corey E. Thomas. Each nominee received a large majority of votes for, though several received more votes against than others.
For example, Eberhart received 1,630,018 votes against, while Ko received 22,131. Stockholders also ratified Deloitte & Touche LLP as the independent registered public accounting firm for the current fiscal year, with 67,787,387 votes for, 2,417,716 against, and 13,166 abstentions. In a nonbinding advisory vote, stockholders approved the compensation of the named executive officers, as disclosed in the company's definitive proxy statement filed on Schedule 14A on March 25, 2025.
That proposal received 64,289,292 votes for, 2,181,183 against, and 78,771 abstentions, with 3,669,023 broker non-votes. The filing reports shareholder voting outcomes only and does not disclose financial results, transactions, or changes in business strategy. Investors seeking financial performance details would need to consult other company filings.
02—Key points
Key Highlights
- Stockholders elected all ten director nominees to terms ending at the 2026 annual meeting of stockholders.
- Each director nominee received 63,426,078 or more votes for, with Anne M. Mulcahy receiving the lowest count of votes for at 63,426,078 and 3,107,188 votes against.
- Stockholders ratified Deloitte & Touche LLP as the independent registered public accounting firm for the current fiscal year, with 67,787,387 votes for and 2,417,716 against.
- Stockholders approved, on an advisory and nonbinding basis, the compensation of the named executive officers, with 64,289,292 votes for and 2,181,183 against.
- The say-on-pay proposal drew 78,771 abstentions and 3,669,023 broker non-votes.
- Broker non-votes of 3,669,023 were recorded for each director nominee.
- The annual meeting was held on May 22, 2025, and the proxy statement for it was filed on March 25, 2025.
03—Questions
Frequently Asked Questions
When was LPL Financial's 2025 annual meeting held and what did stockholders vote on?
The 2025 annual meeting of stockholders was held on May 22, 2025. Stockholders voted on three proposals: the election of ten directors, ratification of Deloitte & Touche LLP as the independent registered public accounting firm, and an advisory vote on named executive officer compensation.
Who were the director nominees elected at the meeting?
The stockholders elected Edward C. Bernard, H. Paulett Eberhart, William F. Glavin, Jr., Albert J. Ko, Allison H. Mnookin, Anne M. Mulcahy, James S. Putnam, Richard P. Schifter, Richard Steinmeier, and Corey E. Thomas. Each will serve a term ending at the 2026 annual meeting of stockholders.
Did stockholders approve the auditor and the executive pay proposals?
Yes. Stockholders ratified the appointment of Deloitte & Touche LLP for the current fiscal year, with 67,787,387 votes for and 2,417,716 against. They also approved, on an advisory basis, the compensation of the named executive officers, with 64,289,292 votes for and 2,181,183 against.
Are the say-on-pay results binding on the company?
No. The named executive officer compensation vote was advisory and nonbinding, as the filing states.
04—Continue