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Ellis of Schwab (NYSE: SCHW) receives 379 RSUs in lieu of fees

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Ellis Stephen A reported acquisition or exercise transactions in this Form 4 filing.

Schwab Charles Corp director Stephen A. Ellis received a grant of 379 restricted stock units on July 1, 2026. Each RSU represents the right to receive one share of company common stock. The units were granted under the Directors' Deferred Compensation Plan II in lieu of cash director fees and are held in a rabbi trust for his benefit.

The RSUs will be distributed to him when he leaves the Board of Directors. Following this award and prior accruals, Ellis holds a total of 13,276.46 RSUs, including 45.48 units accumulated through dividend reinvestment.

Positive

  • None.

Negative

  • None.
Insider Ellis Stephen A
Role null
Type Security Shares Price Value
Grant/Award Restricted Stock Units 379 $0.00 --
Holdings After Transaction: Restricted Stock Units — 13,276.46 shares (Direct, null)
Footnotes (1)
  1. Each restricted stock unit ("RSU") represents a right to receive one share of company stock. The RSUs were received pursuant to the Directors' Deferred Compensation Plan II (the "Plan") and are held in a rabbi trust for the benefit of the reporting person pursuant to the terms of the Plan. The RSU s are held in a rabbi trust for the benefit of the reporting person and are distributed to the reporting person when he leaves the Board of Directors. The RSUs were received in lieu of cash compensation otherwise payable as director fees. Includes 45.48 RSUs acquired through dividend reinvestment.
RSUs granted 379 units Restricted stock units granted on July 1, 2026
Total RSUs after grant 13,276.46 units Holdings following the reported transaction
Dividend reinvestment RSUs 45.48 units RSUs accumulated through dividend reinvestment
RSU-to-share ratio 1 RSU = 1 share Each restricted stock unit represents one share of stock
Grant price $0.00 per unit Compensation award, not a market purchase
Restricted Stock Units financial
"Each restricted stock unit ("RSU") represents a right to receive one share of company stock."
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
Directors' Deferred Compensation Plan II financial
"The RSUs were received pursuant to the Directors' Deferred Compensation Plan II (the "Plan")"
rabbi trust financial
"are held in a rabbi trust for the benefit of the reporting person pursuant to the terms of the Plan."
A rabbi trust is a special account a company sets up to hold promised future pay for executives, like bonus or retirement money, so those employees can see there are funds earmarked for them. It matters to investors because it signals the company’s commitment to keep key people, but the money is still part of the company’s assets and can be claimed by creditors if the company goes bankrupt—think of it as a labeled jar that isn’t completely off-limits.
dividend reinvestment financial
"Includes 45.48 RSUs acquired through dividend reinvestment."
Dividend reinvestment is when the money earned from a company's profit sharing, called dividends, is automatically used to buy more shares of that company instead of being received as cash. This process helps investors grow their holdings over time without extra effort, much like using earned interest to buy more of a savings account. It encourages long-term investment growth by continuously increasing the amount of shares owned.
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Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED 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*
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)
XDirector10% Owner
Officer (give title below)Other (specify below)
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
07/01/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm 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)
CodeVAmount(A) or (D)Price
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Restricted Stock Units(1)07/01/2026A379(2) (3) (3)Common Stock379(4)13,276.46(5)D
Explanation of Responses:
1. Each restricted stock unit ("RSU") represents a right to receive one share of company stock.
2. The RSUs were received pursuant to the Directors' Deferred Compensation Plan II (the "Plan") and are held in a rabbi trust for the benefit of the reporting person pursuant to the terms of the Plan.
3. The RSU s are held in a rabbi trust for the benefit of the reporting person and are distributed to the reporting person when he leaves the Board of Directors.
4. The RSUs were received in lieu of cash compensation otherwise payable as director fees.
5. Includes 45.48 RSUs acquired through dividend reinvestment.
Remarks:
/s/ P. Blake Allen, Attorney-in-fact07/06/2026
** Signature of Reporting PersonDate
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 SCHW director Stephen A. Ellis report in this Form 4?

Stephen A. Ellis reported receiving 379 restricted stock units. These RSUs are a stock-based compensation award, not an open-market purchase or sale of Charles Schwab (SCHW) shares.

How many SCHW restricted stock units does Stephen A. Ellis hold after this grant?

After the July 1, 2026 grant, Ellis holds 13,276.46 restricted stock units. This total includes both the new 379-unit award and prior RSUs accumulated under the company’s director compensation plan.

Are the SCHW RSUs received by Stephen A. Ellis immediately deliverable shares?

No, the RSUs are not immediately deliverable shares. Each unit represents a right to receive one share of Charles Schwab stock in the future, subject to the terms of the director compensation plan.

When will Stephen A. Ellis receive the SCHW shares underlying his RSUs?

The RSUs are held in a rabbi trust and will be distributed when Ellis leaves the Board of Directors. This means actual shares are delivered only upon his board departure, according to the plan’s terms.

Were the SCHW RSUs granted to Stephen A. Ellis part of his cash fees?

Yes, the RSUs were received in lieu of cash director fees. Instead of taking all compensation in cash, Ellis accepted restricted stock units as part of his overall director compensation package.

What portion of Stephen A. Ellis’s SCHW RSUs came from dividend reinvestment?

His position includes 45.48 restricted stock units acquired through dividend reinvestment. These units accumulate automatically when dividends on prior awards are reinvested into additional RSUs under the plan.