Stifel Financial (NYSE: SF) executive exercises phantom units, withholds shares for taxes

Rhea-AI Filing Summary

STIFEL FINANCIAL CORP insider Raymond Charles Bradford reported routine equity compensation activity involving phantom stock units and common shares. He received a grant of 60,673 phantom stock units tied to a 2022 performance-based award, of which 80 percent are currently vested and 20 percent will vest in one year. He also exercised 53,241 phantom stock units into 53,241 shares of common stock. To cover tax obligations on this exercise, 29,443 common shares valued at $73.05 per share were withheld, leaving him with 88,337 common shares held directly after the transactions. These actions reflect compensation and tax settlement mechanics rather than open-market buying or selling.

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^*

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)
03/09/2026

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	03/09/2026		M		53,241	A	$0	117,780	D
Common Stock	03/09/2026		F		29,443	D	$73.05	88,337	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	03/09/2026		A		60,673		(1)	(2)	Common Stock	60,673	$0	144,260	D
Phantom Stock Unit	$0	03/09/2026		M			53,241	(3)	(2)	Common Stock	53,241	$0	91,019	D

Explanation of Responses:

1. These units are being issued based on the PRSU award granted in 2022. Of these units, 80 percent are currently vested and the remaining 20 percent will vest in one year.

2. No expiration date for these Units

3. Currently exercisable.

	/s/ Charles Bradford Raymond	03/11/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What insider transactions did Raymond Charles Bradford report for STIFEL FINANCIAL CORP (SF)?

Raymond Charles Bradford reported equity compensation-related transactions, including a grant of phantom stock units, an exercise of phantom units into common stock, and share withholding to cover taxes. These actions are structured awards and settlements, not open-market purchases or sales of STIFEL FINANCIAL CORP stock.

How many phantom stock units did Raymond Charles Bradford receive from STIFEL FINANCIAL CORP (SF)?

He received 60,673 phantom stock units based on a 2022 performance-based restricted stock unit award. According to the disclosure, 80 percent of these units are currently vested, while the remaining 20 percent are scheduled to vest in one year, subject to the award’s terms.

How many STIFEL FINANCIAL CORP (SF) shares did Raymond Charles Bradford acquire through exercising phantom units?

He exercised 53,241 phantom stock units into 53,241 shares of STIFEL FINANCIAL CORP common stock. This transaction is classified as an exercise or conversion of a derivative security, converting the phantom units into directly held common shares at no stated exercise price per share.

Why were 29,443 STIFEL FINANCIAL CORP (SF) shares disposed of at $73.05 in this Form 4?

The 29,443 common shares were withheld at $73.05 per share to satisfy tax obligations related to the derivative exercise. This disposition is coded as an F transaction, meaning it reflects payment of tax liability by delivering shares, not an open-market sale initiated for investment reasons.

What are Raymond Charles Bradford’s STIFEL FINANCIAL CORP (SF) holdings after these transactions?

After the reported transactions, he directly holds 88,337 shares of STIFEL FINANCIAL CORP common stock. He also holds phantom stock units, with 60,673 units from a 2022 performance-based award, 80 percent of which are vested and 20 percent scheduled to vest in one year.

Do these STIFEL FINANCIAL CORP (SF) insider transactions involve a Rule 10b5-1 trading plan?

The disclosure describes a grant of phantom stock units, an exercise of phantom units, and share withholding for taxes, but does not reference any Rule 10b5-1 trading plan. The transactions appear to be standard equity compensation and tax-settlement events rather than pre-planned market trades.