Stifel Financial (NYSE: SF) CEO exercises stock units, sells shares

Rhea-AI Filing Summary

Stifel Financial Corp Chief Executive Officer Ronald J. Kruszewski reported insider transactions involving common stock and phantom stock units dated January 13, 2026. He exercised 52,427 phantom stock units at an exercise price of $0, receiving the same number of common shares.

On the same date, he disposed of 21,974 common shares in a transaction coded "F" at a price of $125.22 per share, typically used to indicate shares withheld or sold to cover taxes. After these transactions, he directly owned 1,207,060 common shares and 125,462 phantom stock units.

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^*

KRUSZEWSKI RONALD J

(Last) (First) (Middle)

501 NORTH BROADWAY

(Street)

ST. LOUIS MO 63102

(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
X	Officer (give title below)		Other (specify below)
	Chief Executive Officer

3. Date of Earliest Transaction (Month/Day/Year)
01/13/2026

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	01/13/2026		M		52,427	A	$0	1,229,034	D
Common Stock	01/13/2026		F		21,974	D	$125.22	1,207,060	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	01/13/2026		M			52,427	(1)	(2)	Common Stock	52,427	$0	125,462	D

Explanation of Responses:

1. Currently exercisable.

2. No expiration date for these Units

	/s/ Ronald Kruszewski	01/15/2026
	** 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).
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FAQ

What insider activity did SF CEO Ronald Kruszewski report on this Form 4?

Ronald J. Kruszewski, Chief Executive Officer of Stifel Financial Corp (SF), reported exercising 52,427 phantom stock units into common stock and disposing of 21,974 common shares in a separate transaction on January 13, 2026.

How many Stifel Financial (SF) shares did the CEO acquire and at what price?

The CEO acquired 52,427 common shares through the exercise of phantom stock units at an exercise price of $0 per unit on January 13, 2026.

How many Stifel Financial (SF) shares did the CEO dispose of and at what price?

Ronald Kruszewski disposed of 21,974 common shares in a transaction coded "F" at a price of $125.22 per share on January 13, 2026, which typically indicates shares used to satisfy tax obligations.

What is the CEO’s direct ownership in Stifel Financial (SF) after these transactions?

Following the reported transactions, the CEO directly owned 1,207,060 common shares of Stifel Financial Corp and 125,462 phantom stock units.

What are the key details of the phantom stock units reported for SF?

The filing shows phantom stock units with an exercise price of $0. On January 13, 2026, 52,427 units were exercised into an equal number of common shares, and 125,462 phantom stock units remained beneficially owned, with no expiration date stated for these units.

Is the insider transaction for Stifel Financial (SF) classified as direct or indirect ownership?

All reported positions and transactions for Ronald J. Kruszewski in this Form 4 are shown as direct (D) ownership, with no separate entity or indirect nature of ownership specified in the data.