Stifel Financial (SF) director Victor Nesi settles 6,898 stock units and withholds shares

Rhea-AI Filing Summary

Stifel Financial Corp director Victor Nesi reported routine equity compensation activity involving company stock on January 30, 2026. He converted 6,898 Phantom Stock Units into the same number of shares of common stock at an exercise price of $0. To cover related obligations, 3,522 shares of common stock were withheld at a price of $126.24 per share. After these transactions, he directly owned 146,945 shares of Stifel common stock and held additional indirect positions through various trusts holding 41,975, 31,000, and 44,232 shares, respectively.

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

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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^*

Nesi Victor

(Last) (First) (Middle)

787 7TH AVENUE

(Street)

NEW YORK NY 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)

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

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		6,898	A	$0	150,467	D
Common Stock	01/30/2026		F		3,522	D	$126.24	146,945	D
Common Stock								41,975	I	by Trust
Common Stock								31,000	I	Family Trust
Common Stock								44,232	I	Children's Trust

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			6,898	(1)	(2)	Common Stock	6,898	$0	49,762	D

Explanation of Responses:

1. Currently exercisable.

2. No expiration date for these Units

	/s/ Victor Nesi	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 Victor Nesi report at Stifel Financial (SF)?

Victor Nesi reported converting 6,898 Phantom Stock Units into 6,898 Stifel common shares. As part of the same activity, 3,522 shares were withheld at $126.24 per share, reflecting share withholding typically used to satisfy tax or similar obligations tied to equity compensation.

How many Stifel (SF) shares does Victor Nesi own directly after this Form 4?

After the reported transactions, Victor Nesi directly owned 146,945 shares of Stifel common stock. This figure reflects the exercise of 6,898 Phantom Stock Units and the withholding of 3,522 shares in connection with the same equity compensation-related event.

What does the Phantom Stock Units transaction mean for Stifel (SF) director Victor Nesi?

The transaction shows 6,898 Phantom Stock Units converting into an equal number of Stifel common shares at a $0 exercise price. Phantom units are a form of deferred equity compensation that settle in stock, increasing the director’s direct share holdings when they are exercised.

Why were 3,522 Stifel (SF) shares reported as transaction code F on this Form 4?

Transaction code F indicates 3,522 shares of Stifel common stock were withheld at $126.24 per share. Such F-coded transactions typically represent shares withheld to satisfy tax or similar obligations arising from an equity award vesting or option or unit exercise.

What indirect Stifel (SF) share holdings are reported for Victor Nesi?

In addition to his direct ownership, the filing lists indirect holdings through three trusts. These positions include 41,975 shares held by a trust, 31,000 shares held by a family trust, and 44,232 shares held by a children’s trust, reflecting beneficial interests via these entities.

Is this Stifel (SF) Form 4 a large open-market sale by Victor Nesi?

The Form 4 primarily reflects equity compensation activity rather than an open-market sale. It shows the conversion of 6,898 Phantom Stock Units and share withholding of 3,522 shares at $126.24, a pattern consistent with settling obligations tied to stock-based awards.