Form 4: Schwab Co-Chairman reports multi-trade sales and trust-held SCHW holdings

Rhea-AI Filing Summary

Charles R. Schwab, Co-Chairman and director of The Charles Schwab Corporation, reported discrete sales of company common stock on 08/07/2025 and 08/08/2025. The Form 4 shows sales of 22,721 shares on 08/07/2025 at a weighted-average price of $96.0174, and two sales on 08/08/2025 of 28,653 shares at a weighted-average price of $96.6019 and 104,500 shares at a weighted-average price of $96.8435. Aggregated sales reported on the form total 155,874 shares. The filing lists the amount of securities beneficially owned following the reported transactions as 56,604,449 shares (indirect, by trust), and separately discloses related indirect holdings of 9,509,797.33 shares by spouse as trustee, 30,641,981 shares by a limited partnership, and 44,025 shares by 188 Corp. The explanatory notes state the reported prices reflect weighted-average sale prices executed in multiple trades.

Positive

• None.

Negative

• Insider dispositions totaling 155,874 shares across 08/07/2025 and 08/08/2025 are reported, which reduced reported beneficial ownership figures on the form.
• Post-transaction beneficial ownership is reported as 56,604,449 shares (indirect by trust), down from an earlier reported 56,737,602 in the filing's entries.

Insights

Financial Analyst

TL;DR Insider sales totaled 155,874 SCHW shares across Aug 7–8, 2025 at weighted-average prices near $96; indirect holdings listed at 56.6 million shares.

The Form 4 documents three separate sale entries: 22,721 shares at $96.0174, 28,653 shares at $96.6019, and 104,500 shares at $96.8435, with the prices described as weighted averages from multiple trades. The filing shows the post-transaction indirect beneficial ownership figure of 56,604,449 shares, and disaggregates related holdings by spouse-as-trustee, a limited partnership, and 188 Corp. This is a straightforward disclosure of officer/director dispositions without additional financial metrics or commentary in the filing.

Corporate Governance Expert

TL;DR Form 4 reports routine officer/director sales executed across multiple trades and details indirect ownership through trusts and affiliated entities.

The filing identifies the reporting person as Co-Chairman and a director and records dispositions rather than acquisitions. It specifies that certain shares are held indirectly (by trust, spouse as trustee, limited partnership and 188 Corp), and provides explanatory footnotes that sale prices are weighted averages from multiple trades. The disclosure content is limited to transactional detail and ownership breakdowns; it does not state any intent, plan designation, or reason for the sales.

Insider Trade Summary

Net Seller: 155,874 shares

Net Sell 6 txns

Insider Schwab Charles R.

Role Co-Chairman

Sold 155,874 shs ($15.07M)

Type	Security	Shares	Price	Value
Sale	Common Stock	28,653	$96.6019	$2.77M
Sale	Common Stock	104,500	$96.8435	$10.12M
Sale	Common Stock	22,721	$96.0174	$2.18M
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 56,604,449 shares (Indirect, by Trust); Common Stock — 9,509,797.33 shares (Indirect, by Spouse as Trustee); Common Stock — 30,641,981 shares (Indirect, by Limited Partnership); Common Stock — 44,025 shares (Indirect, by 188 Corp)

Footnotes (4)

1. F1. This transaction was executed in multiple trades at prices ranging from $96.00 to $96.05. 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.
2. F2. Reflects transfers of shares between trusts.
3. F3. This transaction was executed in multiple trades at prices ranging from $96.51 to $96.70. 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.
4. F4. This transaction was executed in multiple trades at prices ranging from $96.59 to $96.99. 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.

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Form 4 Insider Transactions: What Each Field Means →

Accepted by SEC EDGAR 08/11/2025 - 07:02 PM Learn about SEC filing dates

FAQ

What sales did Charles R. Schwab report on the Form 4 for SCHW?

He reported three sales: 22,721 shares on 08/07/2025 at $96.0174 (weighted average), 28,653 shares on 08/08/2025 at $96.6019 (weighted average), and 104,500 shares on 08/08/2025 at $96.8435 (weighted average).

How many SCHW shares does Charles R. Schwab beneficially own after these transactions?

The Form 4 reports 56,604,449 shares as beneficially owned following the reported transactions, listed as indirect ownership by trust.

What weighted-average prices were reported for the sales?

Reported weighted-average sale prices are $96.0174 for the 08/07/2025 sale, $96.6019 for one 08/08/2025 sale, and $96.8435 for the other 08/08/2025 sale; the filing notes these reflect multiple trades.

Are the holdings reported as direct or indirect on the Form 4?

The filing shows the reported post-transaction ownership as indirect (I), specifically noting holdings by trust, spouse as trustee, a limited partnership, and 188 Corp.

Does the Form 4 break out related-party holdings for SCHW?

Yes. The form lists 9,509,797.33 shares held by spouse as trustee, 30,641,981 shares held by a limited partnership, and 44,025 shares held by 188 Corp as indirect holdings.

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^*

Schwab Charles R.

(Last) (First) (Middle)

3000 SCHWAB WAY

(Street)

WESTLAKE TX 76262

(City) (State) (Zip)

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
X	Officer (give title below)		Other (specify below)
	Co-Chairman

3. Date of Earliest Transaction (Month/Day/Year)
08/07/2025

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

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

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

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	08/07/2025		S		22,721	D	$96.0174(1)	56,737,602(2)	I	by Trust
Common Stock	08/08/2025		S		28,653	D	$96.6019(3)	56,708,949	I	by Trust
Common Stock	08/08/2025		S		104,500	D	$96.8435(4)	56,604,449	I	by Trust
Common Stock								9,509,797.33(2)	I	by Spouse as Trustee
Common Stock								30,641,981	I	by Limited Partnership
Common Stock								44,025	I	by 188 Corp

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

Explanation of Responses:

1. This transaction was executed in multiple trades at prices ranging from $96.00 to $96.05. 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.

2. Reflects transfers of shares between trusts.

3. This transaction was executed in multiple trades at prices ranging from $96.51 to $96.70. 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.

4. This transaction was executed in multiple trades at prices ranging from $96.59 to $96.99. 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.

Remarks:

	/s/ P. Blake Allen, Attorney-in-fact	08/11/2025
	** 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.