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Stifel Financial (SF) director converts 2,812 phantom units into common shares

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

STIFEL FINANCIAL CORP director James P. Kavanaugh converted deferred compensation into common stock in a routine, non-market transaction. On June 4, 2026, 2,812 phantom stock units tied to common stock were disposed to the issuer and a matching 2,812 shares of common stock were acquired at no cash cost. Following these transactions, Kavanaugh directly holds 13,626 shares of common stock, with this total adjusted for the 3-for-2 stock split payable on February 26, 2026. The filing shows no remaining phantom stock units or other derivative positions.

Positive

  • None.

Negative

  • None.
Insider Kavanaugh James P.
Role null
Type Security Shares Price Value
Disposition Phantom Stock Units 2,812 $0.00 --
Exercise Common Stock 2,812 $0.00 --
Holdings After Transaction: Phantom Stock Units — 0 shares (Direct, null); Common Stock — 13,626 shares (Direct, null)
Footnotes (1)
  1. This total has been adjusted to reflect the 3-for-2 stock split payable on February 26, 2026. Currently exercisable. No expiration date for these Units
Common shares acquired 2,812 shares Common Stock acquired on June 4, 2026 via derivative conversion
Phantom units disposed 2,812 units Phantom Stock Units disposed to issuer on June 4, 2026
Post-transaction holdings 13,626 shares Total common shares held directly after transactions, adjusted for split
Exercise price $0.00 per share Price per share for common stock acquired in the conversion
Stock split ratio 3-for-2 split Stock split payable on February 26, 2026 affecting reported totals
Transaction date June 4, 2026 Date of both the phantom unit disposition and share acquisition
Phantom Stock Units financial
"security_title: "Phantom Stock Units" with underlying security title "Common Stock""
Phantom stock units are company promises that pay a cash or stock-equivalent award tied to the firm’s share price or value growth, but they do not issue actual shares. Think of them as a bonus check that moves with the stock like a mirror rather than handing over an ownership slice. Investors care because these awards can affect a company’s future cash obligations, executive incentives and reported expenses without causing share dilution.
Disposition to issuer financial
"transaction_code_description: "Disposition to issuer" for phantom stock units"
3-for-2 stock split financial
"adjusted to reflect the 3-for-2 stock split payable on February 26, 2026"
Exercise or conversion of derivative security financial
"transaction_code_description: "Exercise or conversion of derivative security""
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Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED 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*
Kavanaugh James P.
(Last)(First)(Middle)
501 NORTH BROADWAY
(Street)
ST. LOUIS MISSOURI 63102
(City)(State)(Zip)
UNITED STATES
(Country)		2. Issuer Name and Ticker or Trading Symbol
STIFEL FINANCIAL CORP [ SF ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
XDirector10% Owner
Officer (give title below)Other (specify below)
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
06/04/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm filed by One Reporting Person
Form filed by More than One Reporting Person
4. If Amendment, Date of Original Filed (Month/Day/Year)

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)
CodeVAmount(A) or (D)Price
Common Stock06/04/2026M2,812A$013,626(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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Phantom Stock Units$006/04/2026D2,812 (2) (3)Common Stock2,812$00D
Explanation of Responses:
1. This total has been adjusted to reflect the 3-for-2 stock split payable on February 26, 2026.
2. Currently exercisable.
3. No expiration date for these Units
/s/ James Kavanaugh06/08/2026
** Signature of Reporting PersonDate
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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did STIFEL FINANCIAL (SF) director James P. Kavanaugh report?

James P. Kavanaugh reported converting phantom stock units into common shares. He disposed of 2,812 phantom stock units to the issuer and acquired 2,812 common shares, reflecting a routine, non‑market adjustment of his equity-based compensation rather than an open-market trade.

How many STIFEL FINANCIAL (SF) shares does James P. Kavanaugh hold after this Form 4?

After the reported transactions, James P. Kavanaugh directly holds 13,626 shares of Stifel Financial common stock. This total is explicitly adjusted for the company’s 3-for-2 stock split payable on February 26, 2026, and reflects his post-transaction equity position.

What happened to James P. Kavanaugh’s phantom stock units in STIFEL FINANCIAL (SF)?

Kavanaugh disposed of 2,812 phantom stock units to the issuer in connection with their conversion. These units, which were tied to Stifel Financial common stock, were eliminated as they were exchanged for an equal number of actual common shares at no stated cash exercise price.

Was James P. Kavanaugh’s STIFEL FINANCIAL (SF) Form 4 an open-market buy or sell?

The Form 4 does not show any open-market buying or selling. Instead, it records a derivative-related conversion where phantom stock units were surrendered to the issuer and replaced with common shares, a typical compensation-related adjustment rather than a market trade.

How does the 3-for-2 stock split affect James P. Kavanaugh’s STIFEL FINANCIAL (SF) holdings?

The filing notes that Kavanaugh’s 13,626-share total is adjusted for the 3-for-2 stock split payable February 26, 2026. This means the reported share count already reflects the increased number of shares resulting from that split, clarifying his true post-split ownership.