SF Form 4: General Counsel Sells 10,000 Shares; 30,114 Phantom Units Disclosed

Rhea-AI Filing Summary

Mark P. Fisher, Senior Vice President & General Counsel of Stifel Financial Corp. (ticker: SF), reported a sale of 10,000 shares of Stifel common stock on 08/19/2025 at a reported price of $112.90 per share, leaving him with 46,599 shares beneficially owned after the transaction. The filing also discloses 30,114 phantom stock units held by Mr. Fisher that vest in 20% increments over five years and have no expiration date. The Form 4 was signed by Mr. Fisher on 08/21/2025.

Positive

• Clear disclosure of the insider sale amount, price, and post-transaction ownership
• Phantom stock units are disclosed with a specific vesting schedule (20% per year) and no expiration date, improving transparency

Negative

• Insider sale of 10,000 shares at $112.90 reduced direct holdings, which could be viewed negatively by some investors

Insights

Financial Analyst

TL;DR: Insider sold a meaningful block of shares; remaining holdings and phantom units disclosed, suggesting routine liquidity rather than control change.

The sale of 10,000 shares at $112.90 reduces the reporting persons direct stake to 46,599 shares, a clear, quantifiable change in ownership. The disclosure of 30,114 phantom stock units with a defined 20% annual vesting schedule provides transparency on future potential economic exposure but does not immediately dilute shareholders. No other transactions, option exercises, or material related-party terms are disclosed in this filing.

Corporate Governance Expert

TL;DR: Form 4 shows a single open-market sale and standard long-term compensation vesting; nothing indicating governance concern.

The reported disposal appears to be a straightforward sale rather than a change in control or an equity-award amendment. The phantom units vesting schedule and lack of expiration date are documented, which helps assess alignment of executive incentives with long-term shareholder interests. The filing contains required signatures and conforms to Section 16 reporting norms.

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^*

Fisher Mark P

(Last) (First) (Middle)

ONE MONTGOMERY STREET

SUITE 3700

(Street)

SAN FRANCISCO CA 94104

(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)
	Senior VP & General Counsel

3. Date of Earliest Transaction (Month/Day/Year)
08/19/2025

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		10,000	D	$112.9	46,599	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							(1)	(2)	Common Stock	0		30,114	D

Explanation of Responses:

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

2. No expiration date for these Units

	/s/ Mark Fisher	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 Mark P. Fisher report on Form 4 for Stifel Financial (SF)?

He reported a sale of 10,000 common shares on 08/19/2025 at $112.90 per share and retained 46,599 shares beneficially owned after the sale.

How many phantom stock units does the reporting person hold and what is the vesting?

The filing shows 30,114 phantom stock units that vest in 20% increments over five years and have no expiration date.

What is the reporting persons role at Stifel Financial?

Mark P. Fisher is reported as a Senior Vice President & General Counsel and an officer of the issuer.

When was the Form 4 signed?

The Form 4 was signed by the reporting person on 08/21/2025.

Did the filing indicate any derivative transactions or option exercises?

No derivative transactions or option exercises are reported other than the phantom stock units; no exercises or conversion prices are listed.