HERRINGER FRANK C 4

What Happened
Frank C. Herringer, a director of Schwab Charles Corp (SCHW), exercised stock options for 7,866 shares on 2026-04-28 (exercise price $28.96, total cash paid ~$227,799). The option conversion/termination is also reported. On the same day he sold 2,520 shares in the open market at a weighted average price of $90.60, generating ~$228,314. These transactions reflect an option exercise plus a partial sale of the resulting shares.

Key Details

• Transaction date: 2026-04-28 (Form 4 filed 2026-04-29). No late filing indicated in the report.
• Option exercise: 7,866 shares acquired at $28.96 per share (total ~$227,799).
• Sale: 2,520 shares sold in multiple trades at a weighted average price of $90.60 (total ~$228,314).
• Derivative disposition: The option/derivative instrument for 7,866 shares was converted/terminated (reported at $0.00 consideration).
• Shares owned after the transactions: not specified in the provided Form 4 summary.
• Footnotes:
  • F1 — The shares received upon exercise were contributed to a revocable trust.
  • F2 — Sale executed in multiple trades with prices ranging $90.60–$90.615; $90.60 is the weighted average.
  • F3 — The option was granted under the company’s 2013 Stock Incentive Plan with a standard vesting schedule (25% on years 1–2, 50% on year 3).

Context
This was an exercised option transaction with a partial immediate sale of shares. Such sales after exercising options are commonly used to cover the exercise cost or taxes or reflect other personal/administrative decisions; the contribution to a revocable trust (F1) is an administrative transfer and does not by itself indicate the insider’s market view. The filing shows routine insider activity rather than any explicit change in company control.