LPL Financial Holdings Inc

Executive departure and appointments

On October 1, 2024, the Company announced that the Board of Directors (“Board”) had terminated Dan H. Arnold, President and Chief Executive Officer of the Company, for “Cause” as defined under the Company’s Executive Severance Plan, the Company’s 2010 Omnibus Equity Incentive Plan, and the Company’s 2021 Omnibus Equity Incentive Plan. On October 21, 2024, the Company announced that the Board had confirmed Rich Steinmeier as Chief Executive Officer and elected him to the Board. The Company also named Matt Audette as President and Chief Financial Officer. See Note 16 - Subsequent Events, within the notes to the condensed consolidated financial statements for additional information.

Closed on the acquisition of Atria Wealth Solutions, Inc.

On February 13, 2024, the Company announced that it had entered into a definitive purchase agreement to acquire Atria, a wealth management solutions holding company headquartered in New York. The transaction closed on October 1, 2024, for an initial cash payment of approximately $835 million and potential contingent consideration of up to $230 million based on future retention and up to approximately $100 million if other milestones, including the conversion of off-platform assets to the Company’s platform, are achieved. See Note 4 - Acquisitions, within the notes to the condensed consolidated financial statements for additional information.