Sarin Arun 4

What Happened

• Director Arun exercised 7,866 stock options on May 13, 2026 by paying $28.96 per share (total cash paid ≈ $227,799). The filing shows those shares were contributed to a revocable trust (see footnote F1). On the same day Arun sold 2,500 SCHW shares in the open market at a weighted average price of $91.16, generating proceeds of ≈ $227,910.
• The Form 4 records an additional derivative disposition of 7,866 shares at $0.00, which reflects the post‑exercise transfer/handling of the exercised shares (see footnote F1).

Key Details

• Transaction date: 2026-05-13; Form filed: 2026-05-14 (timely).
• Option exercise: 7,866 shares @ $28.96 each = $227,799 (code M).
• Open‑market sale: 2,500 shares @ weighted avg $91.16 = $227,910 (code S). Trades executed between $91.14–$91.18 (F2).
• A separate line shows 7,866 shares disposed at $0.00 (derivative record) tied to the contribution to a revocable trust (F1).
• Options grant/vesting: options granted under the 2013 Stock Incentive Plan; vesting was 25% on 1st and 2nd anniversaries and 50% on the 3rd (F3).
• Shares owned after the reported transactions are not shown in the provided excerpt.

Context

• M = option exercise/conversion; S = open‑market sale. Arun paid the exercise price (not a pure cashless exercise) and simultaneously sold a portion of shares in the market.
• Contributing exercised shares to a revocable trust (F1) is an internal/estate planning step and is not itself an economic sale. The separate 2,500‑share sale generated the cash proceeds reported.
• Filing appears timely (one day after the report date), and no 10%‑owner or trading‑plan (10b5‑1) details are disclosed in the provided excerpt.