Schwab director exercises options, sells 2,520 shares

Schwab Charles Corp director Frank C. Herringer reported a mix of stock option exercises and share sales.

Rhea-AI Filing Summary

Schwab Charles Corp director Frank C. Herringer reported a mix of stock option exercises and share sales. On April 28, 2026, an entity described as a trust indirectly sold 2,520 shares of common stock at a weighted average price of $90.6006 per share. Herringer also exercised nonqualified stock options to acquire 7,866 common shares at $28.96 per share, and the option grant was fully exhausted.

Following these transactions, indirect holdings through a trust were 177,508 shares, indirect holdings through a spouse were 50,625 shares, and direct holdings were 10,666 shares. A footnote states that shares received upon exercise of the option were contributed to a revocable trust, and that the sale was executed in multiple trades between $90.60 and $90.615 per share.

Insights

Equity compensation and insider-transactions analyst

Routine option exercise and relatively small open-market sale with substantial holdings retained.

Director Frank C. Herringer exercised nonqualified stock options for 7,866 Schwab common shares at $28.96 per share and fully exhausted that option grant. A portion of the resulting equity was contributed to a revocable trust, aligning with common estate and wealth-planning practices.

The filing also shows an indirect open-market sale of 2,520 shares by a trust at a weighted average price of $90.6006 per share, executed in multiple trades between $90.60 and $90.615. After these transactions, indirect trust holdings of 177,508 shares, spouse holdings of 50,625 shares, and 10,666 shares held directly indicate that only a small fraction of the visible position was sold in this event.

Insider Trade Summary

Exercise and sale activity reported; no spread calculated

Exercise and Sale 4 txns

Insider HERRINGER FRANK C

Role Director

Sold 2,520 shs ($228K)

Approx. gross sale proceeds $228K

Approx. exercise cost $228K

Type	Security	Shares	Price	Value
Exercise	Nonqualified Stock Option (right to buy)	7,866	$0.00	$0.00
Exercise	Common Stock	7,866	$28.96	$228K
Sale	Common Stock	2,520	$90.6006	$228K
holding	Common Stock	--	--	--

Holdings After Transaction: Nonqualified Stock Option (right to buy) — 0 contracts (Direct); Common Stock — 10,666 shares (Direct); Common Stock — 177,508 shares (Indirect, by Trust); Common Stock — 50,625 shares (Indirect, By Spouse)

Footnotes (3)

1. F1. Reflects the contribution of the shares received upon exercise of the option to a revocable trust.
2. F2. This transaction was executed in multiple trades at prices ranging from $90.60 to $90.615. The price reported reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
3. F3. The option was granted under the company's 2013 Stock Incentive Plan and vested 25% on the first and second anniversary of the grant date and 50% on the third anniversary of the grant date.

Key Figures

Shares sold by trust: 2,520 shares Weighted average sale price: $90.6006 per share Options exercised: 7,866 shares +4 more

7 metrics

Shares sold by trust 2,520 shares Indirect open-market sale on April 28, 2026

Weighted average sale price $90.6006 per share Trust sale, trades between $90.60 and $90.615

Options exercised 7,866 shares Nonqualified stock option exercise on April 28, 2026

Option exercise price $28.96 per share Conversion price for nonqualified stock option

Direct holdings after transactions 10,666 shares Common stock held directly by Herringer

Trust holdings after transactions 177,508 shares Common stock held indirectly by trust

Spouse holdings 50,625 shares Common stock held indirectly by spouse

Key Terms

Nonqualified Stock Option, revocable trust, weighted average sale price, 2013 Stock Incentive Plan, +1 more

5 terms

Nonqualified Stock Option financial

"security_title": "Nonqualified Stock Option (right to buy)""

A nonqualified stock option (NQSO) is a company grant that gives an individual the right to buy shares at a set price but does not meet special tax rules for incentive stock options; when exercised the difference between the market price and the exercise price is treated as ordinary income for the recipient and as a tax-deductible expense for the company. It matters to investors because NQSOs affect an employee’s after-tax proceeds, the company’s reported expenses, and potential share dilution—think of it like a cash bonus that converts into stock but is taxed as regular pay when you take it.

revocable trust financial

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

A revocable trust is a legal arrangement where the person who creates it keeps control and can change or cancel the trust at any time, while naming who will manage and receive the assets later. Think of it like a flexible folder for your investments and property that can be relabeled or reworked as circumstances change; it matters to investors because it determines how ownership is recorded, how easily assets transfer on incapacity or death, and whether holdings bypass public probate proceedings.

weighted average sale price financial

"The price reported reflects the weighted average sale price."

2013 Stock Incentive Plan financial

"The option was granted under the company's 2013 Stock Incentive Plan"

indirect ownership financial

"ownership_type": "indirect", "ownership_code": "I""

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transactions did SCHW director Frank C. Herringer report?

Frank C. Herringer reported exercising options for 7,866 Schwab common shares at $28.96 and an indirect open-market sale of 2,520 shares at a weighted average price of $90.6006 per share, all dated April 28, 2026.

How many Charles Schwab (SCHW) shares did the trust sell and at what price?

A trust associated with Frank C. Herringer sold 2,520 SCHW shares at a weighted average price of $90.6006. Footnotes state the sale occurred in multiple trades, with prices ranging from $90.60 to $90.615 per share on April 28, 2026.

What stock options did the SCHW director exercise in this Form 4?

Herringer exercised 7,866 nonqualified stock options with a conversion price of $28.96 per share into Schwab common stock. The option grant was issued under the company’s 2013 Stock Incentive Plan and, after this exercise, the remaining option balance reported for that grant is zero.

What are Frank C. Herringer’s SCHW shareholdings after these transactions?

After the reported transactions, Herringer holds 10,666 Schwab shares directly. Indirectly, a trust holds 177,508 shares and a spouse holds 50,625 shares, giving a substantial remaining equity position across direct and indirect ownership categories per the filing.

How were the exercised SCHW shares treated with respect to the revocable trust?

A footnote explains that the shares received upon exercising the option were contributed to a revocable trust. This indicates that part of Herringer’s equity exposure is held through estate-planning structures rather than solely in his direct personal account.

Were the SCHW insider transactions part of a 10b5-1 trading plan?

The footnotes describe the pricing range and weighted average for the sale but do not state that the transactions occurred under a Rule 10b5-1 trading plan. The filing simply notes the trades and offers to provide detailed execution data upon request.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 04/29/2026 - 07:39 PM EDT Learn about SEC filing dates

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
Estimated average burden
hours per response:			0.5

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^*

HERRINGER FRANK C

(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)
04/28/2026

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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	04/28/2026		M		7,866	A	$28.96	10,666(1)	D
Common Stock	04/28/2026		S		2,520	D	$90.6006(2)	177,508(1)	I	by Trust
Common Stock								50,625	I	By Spouse

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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Nonqualified Stock Option (right to buy)	$28.96	04/28/2026		M			7,866	(3)	05/19/2026	Common Stock	7,866	$0	0	D

Explanation of Responses:

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

2. This transaction was executed in multiple trades at prices ranging from $90.60 to $90.615. The price reported reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.

3. The option was granted under the company's 2013 Stock Incentive Plan and vested 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	04/29/2026
	** 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)