Fisher Mark P 4

What Happened
Mark P. Fisher, Senior Vice President and General Counsel of Stifel Financial Corp (SF), exercised 1,725 stock options on January 30, 2026. To satisfy tax withholding, 931 of the newly issued shares were surrendered at $126.24 each for a total withholding value of $117,529. That leaves approximately 794 net shares delivered to Fisher. The filing shows the option/derivative was converted (disposed) in connection with the exercise.

Key Details

• Transaction date: 2026-01-30; Form 4 filed 2026-02-03 (filed on time under the 2-business-day rule).
• Exercise (code M): 1,725 shares acquired via option conversion; derivative instrument reported as disposed on conversion.
• Tax/payment withholding (code F): 931 shares withheld/disposed at $126.24/share totaling $117,529.
• Net shares received (approx.): 1,725 − 931 = 794 shares.
• Shares owned after transaction: Not disclosed in the provided filing summary.
• Footnotes: F1 indicates the options were currently exercisable; F2 notes no expiration date for these Units.
• Transaction types explained: M = option exercise/conversion; F = shares surrendered to cover exercise price or tax liability (common in cashless exercises).

Context
This was an option exercise with shares withheld to cover taxes (a routine, cashless-type settlement), not an open-market purchase or sale of additional shares. Such withholdings are administrative and don’t necessarily indicate a change in insider sentiment; outright purchases are generally more informative about bullish views.