[Form 4] The Charles Schwab Corporation Insider Trading Activity

Rhea-AI Filing Summary

On 30 Jun 2025, four Canadian investment firms jointly filed a Schedule 13G disclosing a new >5 % passive stake in Gildan Activewear Inc. (NYSE: GIL).

• Total beneficial ownership: 7,678,872 common shares, representing 5.10 % of shares outstanding.
• Largest holder: Jarislowsky, Fraser Ltd. with 7,412,206 shares (4.92 %).
• Other filers: 1832 Asset Management L.P. (61,336); MD Financial Management Inc. (105,450); Scotia McLeod / Scotia Capital (99,880).
• Sole voting & dispositive power: 7,678,272 shares; shared power: 600 shares.
• Filed under Rule 13d-1(b) as institutional investors (FI/IA); certification states the stake is held in the ordinary course with no intent to influence control.

The disclosure signals incremental institutional interest but does not indicate activist activity or strategic intent. Investors may view the ownership as a modest vote of confidence from well-known Canadian asset managers.

Insights

Portfolio Manager

TL;DR: Passive 5.1 % stake by Canadian funds adds institutional support; market impact likely muted.

The combined group barely crosses the 5 % threshold, triggering mandatory disclosure. Jarislowsky, Fraser accounts for virtually the entire position, consistent with its long-only, value-oriented strategy. Because the filing is on Schedule 13G—not 13D—there is no activist agenda, limiting governance implications. That said, additional transparency on a 5 % holder can improve liquidity perception and may be viewed positively by some investors. Valuation upside is limited unless the stake grows or converts to an activist 13D. Overall impact is neutral, with a slight positive tilt due to institutional endorsement.

Corporate Governance Analyst

TL;DR: Disclosure fulfills compliance; no control intent, governance ramifications minimal.

Because voting and dispositive power remain solely with the reporting advisers and shared voting is only 600 shares, there is negligible risk of coordinated control. The certification explicitly rules out influence on management or board composition. From a governance standpoint, the filing merely updates the ownership register and ensures transparency to minority shareholders. Unless the group converts to a 13D filer, strategic impact is insubstantial.

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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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^*

Dea Joan

(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
	Officer (give title below)		Other (specify below)

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		G		513	D	$0	27,673	D

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:

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).
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