Schwab (NYSE: SCHW) director exercises 9,765 options, shifts shares to trust

Filing Impact

(Very High)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Charles Schwab director Stephen A. Ellis exercised stock options to acquire additional common shares. On March 24, 2026 he exercised options on 9,765 shares of Charles Schwab common stock at exercise prices of $28.38 and $28.96 per share, fully converting these option grants into shares.

Following the transactions, Ellis held 6,660 shares of common stock directly. A footnote explains that shares received upon exercise were contributed to a revocable trust, which held 97,327.5296 Charles Schwab common shares indirectly on his behalf. The filing shows only option exercises and related transfers, with no open-market share sales.

Insider Trade Summary

9,765 shares exercised/converted

Mixed 5 txns

Insider Ellis Stephen A

Role Director

Type	Security	Shares	Price	Value
Exercise	Nonqualified Stock Option (right to buy)	1,899	$1,899.00	$3.61M
Exercise	Nonqualified Stock Option (right to buy)	7,866	$7,866.00	$61.87M
Exercise	Common Stock	1,899	$28.38	$54K
Exercise	Common Stock	7,866	$28.96	$228K
holding	Common Stock	--	--	--

Holdings After Transaction: Nonqualified Stock Option (right to buy) — 0 shares (Direct); Common Stock — 6,660 shares (Direct); Common Stock — 97,327.53 shares (Indirect, by Trust)

Footnotes (1)

Reflects the contribution of shares received upon exercise of the option to a revocable trust. The option was received pursuant to the Directors' Deferred Compensation Plan II and vested immediately. The reported transaction constitutes a grant of stock options under the company's 2013 Stock Incentive Plan and vests 25% on the first and second anniversary of the grant date and 50% on the third anniversary of the grant date.

Form 4 Insider Transactions: What Each Field Means →

03/25/2026 - 09:54 PM

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Ellis Stephen A

(Last)

(First)

(Middle)

3000 SCHWAB WAY

(Street)

WESTLAKE

TEXAS

76262

(City)

(State)

(Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
SCHWAB CHARLES CORP [ SCHW ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
	Officer (give title below)	Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/24/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	03/24/2026		M		1,899	A	$28.38	6,660⁽¹⁾	D
Common Stock	03/24/2026		M		7,866	A	$28.96	6,660⁽¹⁾	D
Common Stock								97,327.5296⁽¹⁾	I	by Trust

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Nonqualified Stock Option (right to buy)	$28.38	03/24/2026		M			1,899	⁽²⁾	04/01/2026	Common Stock	1,899	$1,899	0	D
Nonqualified Stock Option (right to buy)	$28.96	03/24/2026		M			7,866	⁽³⁾	05/19/2026	Common Stock	7,866	$7,866	0	D

Explanation of Responses:

1. Reflects the contribution of shares received upon exercise of the option to a revocable trust.

2. The option was received pursuant to the Directors' Deferred Compensation Plan II and vested immediately.

3. The reported transaction constitutes a grant of stock options under the company's 2013 Stock Incentive Plan and vests 25% on the first and second anniversary of the grant date and 50% on the third anniversary of the grant date.

Remarks:

	/s/ P. Blake Allen, Attorney-in-fact	03/25/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What did Stephen A. Ellis report in his latest SCHW Form 4 filing?

Stephen A. Ellis reported exercising stock options for 9,765 Charles Schwab shares. The transactions converted nonqualified stock options into common stock, increased his direct holdings to 6,660 shares, and moved exercised shares into a trust that holds additional SCHW common stock on his behalf.

How many Charles Schwab options did Stephen A. Ellis exercise and at what prices?

Ellis exercised options covering 9,765 Charles Schwab shares. The filing shows 1,899 shares at an exercise price of $28.38 per share and 7,866 shares at $28.96 per share, fully converting these nonqualified stock option grants into SCHW common stock on March 24, 2026.

How many SCHW shares does Stephen A. Ellis hold after these Form 4 transactions?

After the reported transactions, Ellis held 6,660 Charles Schwab common shares directly. An additional 97,327.5296 SCHW shares were held indirectly by a trust, giving him both direct and trust-based exposure, as reflected in the direct and indirect ownership entries in the Form 4.

Were any Charles Schwab (SCHW) shares sold in Stephen A. Ellis’s Form 4?

No share sales were reported in this Form 4. All transactions are coded as option exercises (code M) that converted nonqualified stock options into Charles Schwab common stock, followed by contributions of the resulting shares into a revocable trust, with no open-market disposals disclosed.

What role does the trust play in Stephen A. Ellis’s SCHW holdings?

A revocable trust holds a significant portion of Ellis’s SCHW shares. The filing notes that shares received upon exercise of options were contributed to this trust, which held 97,327.5296 Charles Schwab common shares, classified as indirect ownership "by Trust" in the ownership table.

Did Stephen A. Ellis retain any of the exercised Charles Schwab options after this Form 4?

The Form 4 indicates that the reported nonqualified stock options were fully exercised. Derivative entries show zero shares remaining following the transactions, and the derivative position summary is empty, meaning those specific option grants were completely converted into Charles Schwab common stock.