Stifel Financial (SF) CFO exercises stock units, covers taxes with shares

Rhea-AI Filing Summary

Stifel Financial Corp’s Chief Financial Officer James Marischen reported routine equity compensation activity. On January 30, 2026, he exercised 1,568 Phantom Stock Units, which converted into the same number of common shares at an exercise price of $0 per share.

On the same date, Form 4 shows a disposition of 691 common shares coded "F" at $126.24 per share, typically reflecting shares withheld or delivered to cover taxes. After these transactions, he directly held 70,634 common shares and 17,548 Phantom Stock Units, which are currently exercisable and have no expiration date.

Insider Trade Summary

1,568 shares exercised/converted

Mixed 3 txns

Insider Marischen James M

Role Chief Financial Officer

Type	Security	Shares	Price	Value
Exercise	Phantom Stock Units	1,568	$0.00	--
Exercise	Common Stock	1,568	$0.00	--
Tax Withholding	Common Stock	691	$126.24	$87K

Holdings After Transaction: Phantom Stock Units — 17,548 shares (Direct); Common Stock — 71,325 shares (Direct)

Footnotes (1)

1. Currently exercisable. No expiration date for these Units

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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).

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^*

Marischen James M

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
01/30/2026

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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	01/30/2026		M		1,568	A	$0	71,325	D
Common Stock	01/30/2026		F		691	D	$126.24	70,634	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
Phantom Stock Units	$0	01/30/2026		M			1,568	(1)	(2)	Common Stock	1,568	$0	17,548	D

Explanation of Responses:

1. Currently exercisable.

2. No expiration date for these Units

	/s/ James Marischen	02/03/2026
	** 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.

FAQ

What insider transaction did SF CFO James Marischen report?

Stifel Financial Corp CFO James Marischen reported exercising 1,568 Phantom Stock Units into common stock at $0 per share. He also reported a related disposition of 691 common shares, leaving him with 70,634 common shares and 17,548 Phantom Stock Units directly held.

How many Stifel Financial (SF) shares does the CFO hold after this Form 4?

After the reported transactions, CFO James Marischen directly holds 70,634 shares of Stifel Financial common stock. He also holds 17,548 Phantom Stock Units, which are currently exercisable and do not have an expiration date, reflecting ongoing equity-based compensation alignment.

What does the exercise of 1,568 Phantom Stock Units at SF mean for investors?

The exercise of 1,568 Phantom Stock Units by the SF CFO represents normal equity compensation being converted into common stock. The units were exercised at $0 per share, with related tax-share disposition, and do not indicate any change in company fundamentals or new corporate events.

Why were 691 Stifel Financial (SF) shares disposed of at $126.24?

The Form 4 shows 691 SF common shares disposed of at $126.24 under transaction code "F", typically used for shares withheld or delivered to satisfy tax obligations. This is standard for equity vesting and not a discretionary open-market sale by the executive.

What are Phantom Stock Units in the SF CFO’s Form 4 filing?

In this SF filing, Phantom Stock Units are equity-linked awards that convert into common stock when exercised. The CFO exercised 1,568 units, all currently exercisable with no expiration, and retained 17,548 units afterward, illustrating a long-term compensation component tied to company performance.

Does the SF CFO’s Form 4 indicate a large insider sale?

The SF CFO’s Form 4 primarily reflects equity award exercise and tax-related share disposition, not a large discretionary sale. The 691-share transaction coded "F" usually covers withholding for taxes, while the main change is exercising 1,568 Phantom Stock Units into common shares.