Business Context and Reporting Period
This Form 8-K is a current report filed by LPL Investment Holdings Inc. on September 9, 2008. The filing discloses a material corporate governance event regarding the appointment of a senior executive officer.
Key Financial Metrics
The filing does not provide financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity. The document focuses exclusively on executive compensation arrangements.
Material Changes
The primary material change reported is the appointment of Robert Moore as Managing Director and Chief Financial Officer, effective September 2, 2008. This appointment includes specific compensatory arrangements:
- Base Salary: $600,000 annually.
- Bonuses: $450,000 payable in January 2009 and no less than $900,000 payable in January 2010.
- Stock Options: Grant of 120,000 options to purchase common stock at an exercise price of $26.33 per share.
- Vesting Schedule: Options vest 20% per year over five years, beginning on the first anniversary of the grant date, with a ten-year term.
Guidance, Outlook, and Risks
The filing contains no management commentary, financial guidance, outlook, or discussion of risks and contingencies beyond the standard disclosure of the executive appointment.
Investor Verification Checklist
- Verify the effective date of Robert Moore's appointment as CFO (September 2, 2008).
- Confirm the total potential cash compensation ($600,000 base + $1,350,000 minimum bonuses over two years).
- Review the terms of the 120,000 stock options, specifically the $26.33 exercise price and five-year vesting schedule.
- Check subsequent filings for any changes to the 2008 Stock Option Plan referenced in this grant.