LPL Financial President Dan Arnold is set to become CEO on Jan. 3. When he takes on the associated responsibilities of the post, he will be getting a much higher salary, according to documents the company has filed with regulators.
In fact, the total package of salary and benefits could be as high as $5.4 million. Plus, Arnold is set to get a one-time stock award worth $1.5 million in 2017.
This represents a jump from the $1.85 million Arnold received in total compensation in 2015, which is the last full year the company has filed this information with securities regulators. He earned $2.2 million in 2014 and $2.1 million in 2013.
Departing CEO Mark Casady’s 2015 compensation package was $5.71 million, up from $5.52 million in 2014 but down from $6.15 million in 2013.