Charles Schwab insider Walter Bettinger trades $17M in SCHW stock

Rhea-AI Filing Summary

Co-Chairman and Director Walter W. Bettinger filed a Form 4 reporting a sale of 173,876 Charles Schwab (SCHW) shares on 29 Jul 2025 at a weighted-average price of $98.84, executed through a family trust. Gross proceeds are roughly $17.2 million. After the sale, the trust still owns 590,734 shares.

Additional indirect holdings disclosed: 4,073 shares via the ESPP, 6,606.695 shares in the ESOP, 2,373.0349 shares held by the spouse, and 176.1192 shares held by the spouse as trustee. No derivative positions or 10b5-1 trading plans were indicated.

The filing contains no company-level financial metrics or strategic commentary; its sole purpose is to document this insider disposition.

Positive

• None.

Negative

• Large insider sale: 173,876 shares (~$17.2 M) disposed by the Co-Chairman may signal reduced confidence and create short-term selling pressure.

Insights

Securities Analyst

TL;DR: Large insider sale (~$17 M) by Co-Chairman; mildly negative for near-term sentiment.

The 173,876-share sale represents a meaningful cash-out but still leaves Bettinger with over 590 k shares in the family trust plus other indirect stakes. While executives diversify for personal reasons, such a sizable disposition can pressure the stock as traders often view insider selling—especially absent a 10b5-1 plan—as a potential lack of confidence. There are no offsetting purchases or option exercises. With no operational data in the filing, the transaction’s impact is purely perception-driven. I classify it as modestly negative.

Corporate Governance Specialist

TL;DR: Routine Section 16 disclosure; governance compliance intact, impact neutral.

The form is timely, includes weighted-average pricing details, and discloses residual holdings, satisfying transparency requirements. Bettinger remains a major insider with substantial ownership, so board-shareholder alignment persists. No rule-10b5-1 plan is cited, but the absence does not imply misconduct. From a governance perspective, this looks like a standard diversification move with limited strategic implications.

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^*

Bettinger Walter W

(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)
07/29/2025

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	07/29/2025		S		173,876	D	$98.8428(1)	590,734	I	by Family Trust
Common Stock								4,073	I	by ESPP
Common Stock								6,606.695	I	by ESOP
Common Stock								2,373.0349(2)	I	by Spouse
Common Stock								176.1192(3)	I	by Spouse, as Trustee

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 $98.38 to $99.37. 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 a transfer of shares to a trust and includes 7.3263 shares acquired through dividend reinvestment.

3. Reflects a transfer of shares to a trust and includes .5438 shares acquired through dividend reinvestment.

Remarks:

	/s/ Jeffrey E. Salvesen, Attorney-in-Fact	07/31/2025
	** 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.

FAQ

How many Charles Schwab (SCHW) shares did Walter Bettinger sell?

He sold 173,876 shares on 29 Jul 2025 at a weighted-average price of $98.84.

What was the total value of the insider sale reported in the Form 4?

Approximate proceeds were $17.2 million (173,876 × $98.84).

How many SCHW shares does the family trust hold after the transaction?

The family trust now owns 590,734 shares.

Were any derivative securities or option exercises reported?

No derivative positions or option exercises were disclosed in this filing.

Is this sale part of a Rule 10b5-1 trading plan?

The filing does not indicate that the transaction was executed under a Rule 10b5-1 plan.