Stifel Financial insider exercises 20,927 stock units

Raymond Charles Bradford, Co-Head Global Institutional Equity Advisory at Stifel Financial, exercised 20,927 Phantom Stock Units into an equal number of common shares on January 13, 2026; the units were currently exercisable with no expiration date.

Rhea-AI Filing Summary

Raymond Charles Bradford, Co-Head Global Institutional Equity Advisory at Stifel Financial, exercised 20,927 Phantom Stock Units into an equal number of common shares on January 13, 2026; the units were currently exercisable with no expiration date. To satisfy tax obligations, 10,456 shares of common stock were withheld at a per-share price of $125.22, resulting in 43,026 Stifel Financial common shares held directly after these transactions.

Insider Trade Summary

20,927 shares exercised/converted

Exercise 3 txns

Insider Raymond Charles Bradford

Role Insider

Type	Security	Shares	Price	Value
Exercise	Phantom Stock Unit	20,927	$0.00	$0.00
Exercise	Common Stock	20,927	$0.00	$0.00
Exercise Price or Tax Liability	Common Stock	10,456	$125.22	$1.31M

Holdings After Transaction: Phantom Stock Unit — 38,259 contracts (Direct); Common Stock — 43,026 shares (Direct)

Footnotes (2)

1. F1. Currently exercisable.
2. F2. No expiration date for these Units

Key Figures

Phantom units exercised: 20,927 units Underlying common shares received: 20,927 shares Shares withheld for taxes: 10,456 shares +2 more

5 metrics

Phantom units exercised 20,927 units Phantom Stock Units exercised into common stock on January 13, 2026

Underlying common shares received 20,927 shares Common Stock received upon exercise or conversion of Phantom Stock Units

Shares withheld for taxes 10,456 shares Common shares delivered in a tax-withholding disposition coded F

Tax-withholding price $125.22 per share Per-share price for the tax-withholding disposition of Common Stock

Post-transaction holdings 43,026 shares Direct Stifel Financial common stock holdings after the reported transactions

Key Terms

Phantom Stock Unit, tax-withholding disposition, derivative security

3 terms

Phantom Stock Unit financial

"security_title "Phantom Stock Unit" for derivative transaction"

tax-withholding disposition financial

"transaction_action "tax-withholding disposition" on Common Stock"

A tax-withholding disposition is an event or transaction—such as selling or transferring securities, exercising options, or receiving compensation—that triggers a requirement to hold back part of the payment and remit it to tax authorities. It matters to investors because it reduces the cash they receive immediately and can change the timing and amount of taxable income, like a cashier taking a portion of your sale proceeds to pay taxes before you get the rest.

derivative security financial

"transaction_code_description "Exercise or conversion of derivative security""

A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.

FAQ

What insider transaction did Raymond Charles Bradford report for SF?

Raymond Charles Bradford reported exercising 20,927 Phantom Stock Units into common stock for Stifel Financial. The units were currently exercisable with no expiration date, and the transaction occurred on January 13, 2026, as shown in the Form 4 data.

How many phantom stock units did the SF insider convert to common stock?

The SF insider converted 20,927 Phantom Stock Units into an equal number of common shares. This derivative exercise is coded as an M transaction, representing the exercise or conversion of a derivative security into Stifel Financial common stock.

How many SF shares were withheld for taxes and at what price?

To cover tax obligations, 10,456 Stifel Financial common shares were withheld in a tax-withholding disposition. These shares were valued at a per-share price of $125.22, as indicated by the transaction coded F in the Form 4.

How many Stifel Financial (SF) shares does Raymond Charles Bradford hold after this Form 4?

After the reported transactions, Raymond Charles Bradford directly holds 43,026 Stifel Financial common shares. This post-transaction balance comes from the canonical holdings data, reflecting his updated direct ownership position.

Were the SF insider transactions part of a Rule 10b5-1 trading plan?

The available data do not indicate that these transactions were made under a Rule 10b5-1 trading plan. The plan-related checkbox is not marked, and no footnote states that the exercise or tax-withholding disposition followed a pre-arranged trading plan.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 01/15/2026 - 04:36 PM Learn about SEC filing dates

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^*

Raymond Charles Bradford

(Last) (First) (Middle)

787 7TH AVENUE

(Street)

NEW YORK NY

(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
	Officer (give title below)	X	Other (specify below)
			Co-Head Global Instl Eqty Adv

3. Date of Earliest Transaction (Month/Day/Year)
01/13/2026

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	01/13/2026		M		20,927	A	$0	53,482	D
Common Stock	01/13/2026		F		10,456	D	$125.22	43,026	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 Unit	$0	01/13/2026		M			20,927	(1)	(2)	Common Stock	20,927	$0	38,259	D

Explanation of Responses:

1. Currently exercisable.

2. No expiration date for these Units

	/s/ Charles Bradford Raymond	01/15/2026
	** 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.