Stifel Financial (SF) SVP awarded new phantom stock units

Filing Impact

(Very High)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Stifel Financial Senior Vice President Thomas B. Michaud reported awards of phantom stock units. He acquired 17,623 units and 13,504 units at a reference price of $74.05 per unit. One grant vests in 20% increments over five years and another in 10% increments over ten years, with no expiration date. Following these awards, his reported phantom stock unit holdings rose to 82,616 units, and his direct common stock holdings were 129,735 shares, adjusted for a 3-for-2 stock split payable on February 26, 2026.

Insider Trade Summary

3 transactions reported

Mixed 3 txns

Insider Michaud Thomas B.

Role Senior Vice President

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock Units	17,623	$74.05	$1.30M
Grant/Award	Phantom Stock Units	13,504	$74.05	$1000K
holding	Common Stock	--	--	--

Holdings After Transaction: Phantom Stock Units — 69,112 shares (Direct); Common Stock — 129,735 shares (Direct)

Footnotes (1)

This total has been adjusted to reflect the 3-for-2 stock split payable on February 26, 2026. Units vest in 20% increments over a five year period. No expiration date for these Units Units vest in 10% increments over a 10 year period.

Form 4 Insider Transactions: What Each Field Means →

03/03/2026 - 04:40 PM

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^*

Michaud Thomas B.

(Last)

(First)

(Middle)

787 SEVENTH AVENUE

(Street)

NEW YORK

10019

(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)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Senior Vice President

3. Date of Earliest Transaction (Month/Day/Year)
02/27/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock								129,735⁽¹⁾	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Phantom Stock Units	$0	02/27/2026		A		17,623		⁽²⁾	⁽³⁾	Common Stock	17,623	$74.05	69,112⁽¹⁾	D
Phantom Stock Units	$0	02/27/2026		A		13,504		⁽⁴⁾	⁽³⁾	Common Stock	13,504	$74.05	82,616⁽¹⁾	D

Explanation of Responses:

1. This total has been adjusted to reflect the 3-for-2 stock split payable on February 26, 2026.

2. Units vest in 20% increments over a five year period.

3. No expiration date for these Units

4. Units vest in 10% increments over a 10 year period.

	/s/ Thomas Michaud	03/03/2026
	** 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.

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did Stifel Financial (SF) report for Thomas B. Michaud?

Stifel Financial reported that Senior Vice President Thomas B. Michaud acquired phantom stock units as compensation awards. The filing shows two grants on February 27, 2026, increasing his phantom stock unit holdings and confirming his existing direct common stock position.

How many phantom stock units did the Stifel Financial (SF) executive receive?

Thomas B. Michaud received 17,623 phantom stock units and 13,504 phantom stock units. These awards are recorded at a reference price of $74.05 per unit and are structured with multi-year vesting schedules rather than as immediate cash or stock transactions.

What are the vesting terms of the new phantom stock units at Stifel Financial (SF)?

One phantom stock unit grant vests in 20% increments over five years, while the other vests in 10% increments over ten years. The filing also notes there is no expiration date for these units, emphasizing their long-term, incentive-focused structure.

Did the Stifel Financial (SF) Form 4 show any insider stock sales or purchases?

The Form 4 does not report any open-market stock purchases or sales. It records acquisitions of phantom stock units categorized as grants or awards, along with an updated direct common stock holding balance after a 3-for-2 stock split adjustment.

How many phantom stock units and common shares does the Stifel Financial (SF) executive now hold?

After the reported awards, Thomas B. Michaud holds 82,616 phantom stock units in total. His direct common stock ownership is 129,735 shares, with this share count adjusted to reflect a 3-for-2 stock split payable on February 26, 2026.

What stock split adjustment is mentioned in the Stifel Financial (SF) insider filing?

The filing notes that the total for the executive’s direct common stock holdings was adjusted for a 3-for-2 stock split. This split was payable on February 26, 2026, and the reported 129,735 shares reflect that adjustment rather than a new purchase or sale.