Stifel Financial (SF) director receives 2,450 phantom stock units as equity grant

Rhea-AI Filing Summary

Carnoy Lisa Landau reported acquisition or exercise transactions in this Form 4 filing.

Stifel Financial Corp director Lisa Landau Carnoy reported a compensation-related equity grant. She received 2,450 Phantom Stock Units tied to Stifel common stock at a reference value of $71.40 per unit. These units vest quarterly over a one-year period and have no stated expiration date.

The filing also shows she directly holds 10,611 shares of Stifel common stock after the reported transactions. The Phantom Stock Units represent a deferred, stock-based form of compensation rather than an open-market purchase or sale.

Insights

Equity Compensation Analyst

Routine director equity grant using phantom stock units.

Director Lisa Landau Carnoy received 2,450 Phantom Stock Units as a grant or award, with a reference value of $71.40 per unit. This is a non-cash, stock-linked compensation mechanism rather than an open-market transaction.

The units vest quarterly over a one-year period, which encourages continued board service and aligns compensation with shareholder value. The absence of an expiration date and the quarterly vesting terms suggest ongoing exposure to the company’s share performance, while remaining a routine element of director pay.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Carnoy Lisa Landau

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock Units	2,450	$71.40	$175K
holding	Common Stock	--	--	--

Holdings After Transaction: Phantom Stock Units — 2,450 shares (Direct); Common Stock — 10,611 shares (Direct)

Footnotes (2)

1. F1. Units vest quarterly over a one year period.
2. F2. No expiration date for these Units

Key Figures

Phantom Stock Units granted: 2,450 units Reference value per unit: $71.40 per unit Director common shares held: 10,611 shares +3 more

6 metrics

Phantom Stock Units granted 2,450 units Grant/award acquisition on 2026-06-09

Reference value per unit $71.40 per unit Phantom Stock Units grant value

Director common shares held 10,611 shares Common Stock directly owned after transactions

Vesting schedule Quarterly over one year Phantom Stock Units vesting terms

Expiration No expiration date Phantom Stock Units have no stated expiration

Underlying security 2,450 common shares Underlying Common Stock for Phantom Stock Units

Key Terms

Phantom Stock Units, grant/award acquisition, vesting, underlying security

4 terms

Phantom Stock Units financial

"She received 2,450 Phantom Stock Units tied to Stifel 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.

grant/award acquisition financial

"transaction_action": "grant/award acquisition""

vesting financial

"Units vest quarterly over a one year period."

Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.

underlying security financial

"underlying_security_title": "Common Stock""

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

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 06/11/2026 - 04:28 PM Accepted by SEC EDGAR 06/11/2026 - 04:28 PM Learn about SEC filing dates

FAQ

What did Stifel Financial (SF) director Lisa Landau Carnoy report on this Form 4?

She reported receiving a grant of 2,450 Phantom Stock Units tied to Stifel common stock as compensation. The filing also shows she directly holds 10,611 common shares after the reported transactions, reflecting her ongoing equity stake in the company.

How many Phantom Stock Units were granted to the Stifel (SF) director and at what value?

She was granted 2,450 Phantom Stock Units with a reference value of $71.40 per unit. These units track the value of Stifel common stock and function as a deferred, stock-based compensation award rather than an immediate cash or share transaction.

How do the Phantom Stock Units for Stifel (SF) vest for the director?

The Phantom Stock Units vest quarterly over a one-year period. This schedule means portions of the 2,450 units convert to vested amounts each quarter, helping tie the director’s compensation to continued board service and the company’s performance over that year.

Do the Phantom Stock Units reported by Stifel (SF) director have an expiration date?

The filing states there is no expiration date for these Phantom Stock Units. While they have a quarterly vesting schedule over one year, the units themselves are not subject to a fixed termination date once granted under the described terms.

How many Stifel Financial (SF) common shares does the director own after this Form 4?

After the reported transactions, she directly holds 10,611 shares of Stifel common stock. This figure reflects her direct equity position separate from the 2,450 Phantom Stock Units, which are a derivative, stock-based compensation vehicle rather than currently owned common shares.

Is the Stifel (SF) Form 4 transaction a market buy or sell of common stock?

No, the key transaction is a grant of 2,450 Phantom Stock Units, classified as a grant or award acquisition. It is a compensation-related derivative award, not an open-market purchase or sale of Stifel common stock by the director.

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^*

Carnoy Lisa Landau

(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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/09/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form 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)
			Code	V	Amount	(A) or (D)	Price
Common Stock								10,611	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	06/09/2026		A		2,450		(1)	(2)	Common Stock	2,450	$71.4	2,450	D

Explanation of Responses:

1. Units vest quarterly over a one year period.

2. No expiration date for these Units

	/s/ Lisa Carnoy	06/11/2026
	** 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.
* Form 4: SEC 1474 (03-26)