LPL’s New CEO Comp Could Reach $5.4 Million

The independent broker-dealer announced that Casady, 56, planned to step down in early-December. He has run the firm for 10 years and will stay on as non-executive chairman through March 3.

Arnold has served as LPL's president since March 2015, having joined the firm in 2007.

Package Details

Specifically, Arnold will receive:

• An annual base salary of $800,000, up from $606,000 in 2015;
• A target annual cash bonus of up to 225% of annual base salary, or as much as to $1.8 million;
• A target annual long-term incentive compensation award valued at up to 350% of annual base salary or up to $2.9 million, with 50% of this award to be granted in stock options and 50% in performance-based share units; and
• A one-time grant of restricted stock units with an aggregate value of $1.5 million, which is expected to be granted on Feb. 13, 2017 (and will vest in 33% increments on the third, fourth and fifth anniversaries of this date).

In addition, Arnold remains eligible for the independent broker-dealer's executive severance plan.