SF Form 4: Zemlyak Sells 15,000 Shares, Owns 1.15M and 86k Phantom Units

Rhea-AI Filing Summary

James M. Zemlyak, Co‑President of Stifel Financial Corp. (SF), reported multiple family transactions and a disposal in August 2025. He sold 15,000 shares on 08/19/2025 at $112.90, after which he directly beneficially owned 1,154,549 shares. Several small purchases on 08/07, 08/11, 08/12 and 08/13 were reported as indirectly owned by his son, increasing that indirect holding incrementally to 7,037 shares; an additional 419 shares are reported indirectly by his wife. He also holds 86,354 phantom stock units that vest in 20% increments over five years and have no expiration date.

Positive

• Maintains a large direct stake of 1,154,549 shares
• Holds 86,354 phantom stock units vesting 20% annually over five years

Negative

• Disposed of 15,000 shares on 08/19/2025 at $112.90

Insights

Securities Analyst

TL;DR: Insider sold 15,000 shares while retaining a large direct stake and holding long‑term phantom units.

The reported disposal of 15,000 shares on 08/19/2025 at $112.90 is a clearly disclosed, contemporaneous transaction. Following that sale, Mr. Zemlyak still holds a substantial direct position of 1,154,549 shares, which maintains his economic exposure to Stifel Financial Corp. The small purchases attributed to his son and the 419 shares attributed to his wife are recorded as indirect holdings and appear incremental. The 86,354 phantom stock units provide additional long‑term alignment, vesting 20% annually over five years and carrying no expiration.

Corporate Governance Expert

TL;DR: Transactions show routine insider activity with continued long‑term alignment through phantom units.

The Form 4 discloses both an open‑market style disposition and family‑attributed acquisitions, all properly reported. The phantom stock units, which vest over five years, signal structured long‑term compensation alignment with shareholders. The filing is complete with signature and dates, and identifies Mr. Zemlyak as Co‑President and director-level reporting person. No compliance exceptions or plan‑based 10b5‑1 notation are indicated on the face of this form.

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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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^*

ZEMLYAK 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)
	Co-President

3. Date of Earliest Transaction (Month/Day/Year)
08/07/2025

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	08/19/2025		D		15,000	D	$112.9	1,154,549	D
Common Stock	08/07/2025		P		4	A	$110.17	7,032	I	by Son
Common Stock	08/11/2025		P		1	A	$111.76	7,033	I	by Son
Common Stock	08/12/2025		P		2	A	$114.16	7,035	I	by Son
Common Stock	08/13/2025		P		2	A	$116	7,037	I	by Son
Common Stock								419	I	By Wife

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							(1)	(2)	Common Stock	0		86,354	D

Explanation of Responses:

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

2. No expiration date for these Units

	/s/ James Zemlyak	08/21/2025
	** 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 did James M. Zemlyak report on his Form 4 for Stifel Financial (SF)?

He reported a sale of 15,000 shares on 08/19/2025 at $112.90, several small purchases reported as indirectly owned by his son, 419 shares indirectly by his wife, and 86,354 phantom stock units.

How many shares does James M. Zemlyak directly own after the reported transactions (SF)?

The Form shows he directly beneficially owned 1,154,549 shares following the reported transactions.

What are the details of the phantom stock units reported by Zemlyak (SF)?

He holds 86,354 phantom stock units that vest 20% per year over five years and have no expiration date according to the filing.

Were any transactions reported as indirect family holdings on the Form 4 (SF)?

Yes. Purchases on 08/07, 08/11, 08/12 and 08/13 are reported as indirectly owned by his son, and 419 shares are reported indirectly by his wife.

When was the Form 4 signed and filed for James M. Zemlyak (SF)?

The filing contains the reporting person’s signature dated 08/21/2025.