REICHERT CHRISTOPHER K 4

What Happened

• Christopher K. Reichert, CEO of Stifel Bank & Trust (a unit of Stifel Financial Corp.), exercised 1,568 derivative units on 2026-01-30. The exercise had an effective price of $0.00 (no cash paid). To satisfy tax obligations, 694 of the resulting shares were withheld/disposed at $126.24 per share, totaling $87,611. The underlying derivative instrument was recorded as converted/disposed in the filing.

Key Details

• Transaction date: 2026-01-30; Form 4 filing date: 2026-02-03 (filed within the required reporting window).
• Exercise: 1,568 shares acquired via derivative conversion (code M) at $0.00.
• Tax withholding: 694 shares disposed (code F) at $126.24 per share for $87,611.
• The filing shows the derivative was converted/disposed (M) — this reflects conversion of the award, not an open-market sale of those converted shares.
• Shares owned after the transaction: not provided in the excerpt of the filing.
• Footnotes: F1 = Currently exercisable; F2 = No expiration date for these Units.
• Transaction codes: M = exercise/conversion of derivative; F = payment of exercise price or tax liability (shares withheld).

Context

• This appears to be a routine exercise/conversion of a derivative award with shares withheld to cover taxes (a common, non‑market sale action). Because the exercise price was $0.00 and shares were withheld to satisfy taxes, this functions like a cashless exercise rather than a cash purchase or a discretionary open‑market sale. There’s no indication here of an open‑market sell intended to raise cash or signal sentiment.