SF Form 4/A: CEO Kruszewski Adjusts 1,768-Share Transfer Record

Rhea-AI Filing Summary

Stifel Financial Corp. (SF) – Form 4/A Amended Insider Filing: The filing corrects a previously reported transaction for Chief Executive Officer and Director Ronald J. Kruszewski. On 02/25/2025, Kruszewski contributed 1,768 shares of Stifel common stock to the Longview Advantage ETF. The transaction is coded “J” (other disposition) and is treated as a transfer out of his direct holdings at a reference price of $104.01 per share, implying an approximate market value of $184,000.

After the transfer, Kruszewski still directly owns 1,247,459 shares of SF, indicating the disposition represents less than 0.2 % of his reported stake and an even smaller fraction of Stifel’s total shares outstanding. No derivative securities were involved, and no 10b5-1 trading plan is referenced. The amendment was necessary because the number of contributed shares reported in the original Form 4 filed on 02/26/2025 was incorrect, an error noted as administrative in the “Explanation of Responses.”

Given the modest size of the transfer relative to Kruszewski’s holdings and the company’s market capitalization, the filing is largely administrative and not expected to be materially impactful to investors or to Stifel’s share price.

Insights

Corporate Governance Expert

TL;DR: Simple correction; immaterial insider transfer, no governance red flags.

The Form 4/A merely adjusts the share count for a previously disclosed transfer by CEO Ronald Kruszewski. The 1,768-share contribution, worth roughly $184k, is de minimis compared with his 1.25 million-share direct position. No option exercises, sales for personal liquidity, or pattern of insider selling is revealed. The explanatory note confirms an administrative error rather than intentional misreporting. Therefore, no governance or compliance concerns arise, and I view the filing as routine.

Portfolio Manager

TL;DR: Neutral event; size too small to influence SF valuation.

From a portfolio perspective, a $184k transfer by Stifel’s long-tenured CEO is negligible. His remaining 1.25 million shares still aligns incentives with shareholders. Absence of derivatives or a 10b5-1 plan suggests no broader disposal strategy. The amendment simply corrects the record; thus I assign no adjustment to risk premia or position sizing for SF.

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

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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^*

KRUSZEWSKI RONALD J

(Last) (First) (Middle)

501 NORTH BROADWAY

(Street)

ST. LOUIS MO 63102

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
STIFEL FINANCIAL CORP [ SF ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

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

3. Date of Earliest Transaction (Month/Day/Year)
02/25/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)
02/26/2025

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	02/25/2025		J(1)		1,768	D	$104.01	1,247,459	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:

1. These shares were contributed by Mr. Kruszewski to the Longview Advantage ETF.

Remarks:

Due to an administrative error, the number of shares reported as being contributed to Longview Advantage ETF was incorrect.

	Ronald J. Kruszewski	06/27/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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** 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 Stifel Financial (SF) shares did CEO Ronald Kruszewski transfer in the amended Form 4/A?

He contributed 1,768 shares of Stifel common stock.

What price per share was recorded for the 1,768 SF shares transferred?

The filing lists a reference price of $104.01 per share.

How many SF shares does the CEO still own after the transaction?

Kruszewski now directly owns 1,247,459 shares of Stifel Financial.

Why was the Form 4 amended on 06/27/2025?

The amendment corrects an administrative error in the original 02/26/2025 filing, which misstated the share amount transferred.

Does the filing indicate use of a Rule 10b5-1 trading plan?

No. The checkbox for a Rule 10b5-1 plan is present but not marked in this filing.

Is the share transfer considered material to Stifel Financial shareholders?

Given it represents less than 0.2 % of the CEO’s holdings, the event is not material to shareholder value.