Schwab Executive Cashes Out Options with Double Return as Shares Hit $90

Rhea-AI Filing Summary

Charles Schwab Chief Risk Officer Nigel J. Murtagh reported significant insider trading activity on June 18, 2025. The transactions involved:

• Exercise of 20,872 nonqualified stock options at a strike price of $42.99
• Immediate sale of all exercised shares at an average price of $90.0089 per share
• The sale was executed under a pre-established Rule 10b5-1 trading plan from November 23, 2024

Following these transactions, Murtagh's holdings include 58,999 shares held directly and 2,374 shares held indirectly through an ESPP. The exercised options were granted under the 2013 Stock Incentive Plan and had completely vested in four annual installments. The options were set to expire on March 1, 2027, but were exercised well before expiration.

Insider Trade Summary

Net Seller: 20,872 shares ($1,878,666)

Net Sell 4 txns

Insider Murtagh Nigel J

Role Chief Risk Officer

Sold 20,872 shs ($1.88M)

Type	Security	Shares	Price	Value
Exercise	Nonqualified Stock Option (right to buy)	20,872	$0.00	--
Exercise	Common Stock	20,872	$42.99	$897K
Sale	Common Stock	20,872	$90.0089	$1.88M
holding	Common Stock	--	--	--

Holdings After Transaction: Nonqualified Stock Option (right to buy) — 0 shares (Direct); Common Stock — 79,871.231 shares (Direct); Common Stock — 2,374 shares (Indirect, by ESPP)

Footnotes (1)

1. The sales reported in this Form 4 were effected pursuant to a Rule 10b5-l trading plan adopted by the reporting person on November 23,2024. This transaction was executed in multiple trades at prices ranging from $90.00 to $90.045. 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. The option was granted under the company's 2013 Stock Incentive Plan and vested in four equal annual installments beginning on the first anniversary of the grant date.

Form 4 Insider Transactions: What Each Field Means →

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).

X

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^*

Murtagh Nigel J

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Risk Officer

3. Date of Earliest Transaction (Month/Day/Year)
06/18/2025

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	06/18/2025		M		20,872	A	$42.99	79,871.2306	D
Common Stock	06/18/2025		S(1)		20,872	D	$90.0089(2)	58,999.2306	D
Common Stock								2,374	I	by ESPP

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)	$42.99	06/18/2025		M			20,872	(3)	03/01/2027	Common Stock	20,872	$0	0	D

Explanation of Responses:

1. The sales reported in this Form 4 were effected pursuant to a Rule 10b5-l trading plan adopted by the reporting person on November 23,2024.

2. This transaction was executed in multiple trades at prices ranging from $90.00 to $90.045. 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 in four equal annual installments beginning on the first anniversary of the grant date.

Remarks:

	/s/ Jeffrey E. Salvesen, Attorney-in-Fact	06/20/2025
	** 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

What insider trading activity occurred at SCHW on June 18, 2025?

Chief Risk Officer Nigel J. Murtagh exercised 20,872 stock options at $42.99 per share and subsequently sold the same number of shares at an average price of $90.0089, as part of a pre-planned Rule 10b5-1 trading plan established on November 23, 2024.

How many SCHW shares does Nigel Murtagh own after the June 2025 transactions?

After the transactions, Nigel Murtagh owns 58,999.2306 shares directly and 2,374 shares indirectly through an ESPP (Employee Stock Purchase Plan), for a total of 61,373.2306 shares.

What was the exercise price of SCHW stock options traded by the insider?

The nonqualified stock options were exercised at a price of $42.99 per share. These options were originally granted under the company's 2013 Stock Incentive Plan and had an expiration date of March 1, 2027.

Was SCHW insider Murtagh's stock sale pre-planned?

Yes, the stock sale was pre-planned through a Rule 10b5-1 trading plan that Murtagh established on November 23, 2024. This type of plan provides a safe harbor from insider trading allegations by establishing the trade parameters in advance.

What was the profit margin on SCHW insider Murtagh's June 2025 trade?

Murtagh realized approximately $47.02 per share in profit (selling at $90.0089 minus the $42.99 exercise price), resulting in a total profit of around $981,402 before taxes on the 20,872 shares traded.