EX-10.1
LPL Financial Holdings Inc.
LPL FINANCIAL HOLDINGS INC.
Non-Employee Director Compensation Policy
Annual Retainer
•All non-employee directors receive an annual retainer of $335,000, which is paid in advance on the next business day following the Company’s annual meeting of stockholders (the “Annual Payment Date”). Of this amount, $110,000 is paid in a lump sum in cash and $225,000 is paid in the form of restricted shares of the Company’s common stock (the “Common Stock”).
•The restricted shares are issued under the Company’s 2021 Omnibus Equity Incentive Plan (the “2021 Plan”) and vest in full on the date immediately prior to the date of the Company’s next annual meeting of stockholders (the “Vesting Date”). The number of restricted shares is determined by dividing
$225,000 by the average of the closing price per share of the Common Stock on The NASDAQ Stock Market for the trailing thirty consecutive trading days inclusive of the Annual Payment Date (the “Grant Price”), rounded down to the nearest whole share.
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