WEISEL THOMAS W 4

What Happened

• Thomas W. Weisel, a director of Stifel Financial Corp (SF), exercised/converted 628 derivative units into 628 common shares on 2026-01-30. The exercise/conversion is reported at $0.00 per share (no cash exercise price shown). To cover tax liabilities, 260 of the resulting shares were surrendered/withheld at a price of $126.24 per share, totaling approximately $32,822. Net shares added to his holdings from this transaction were 368 shares (628 acquired less 260 withheld).

Key Details

• Transaction date: 2026-01-30; Form 4 filed 2026-02-03 reporting these transactions.
• Actions reported:
  • Code M (exercise/conversion): 628 shares acquired @ $0.00.
  • Code F (payment of tax liability by share withholding): 260 shares disposed @ $126.24, proceeds ~$32,822.
  • A second Code M line shows 628 shares disposed as derivative conversion (reporting detail of the conversion).
• Net shares retained after the transactions (based on the reported lines): +368 shares.
• Footnotes: F1 = "Currently exercisable." F2 = "No expiration date for these Units."
• Shares owned after transaction: not provided in the supplied filing excerpt.
• Filing timeliness: Form filed Feb 3, 2026 to report Jan 30, 2026 activity (no late-filing flag provided in the excerpt).

Context

• This appears to be a routine exercise/conversion with shares withheld to satisfy tax withholding — a common administrative step rather than an open-market sale. Such withholding reduces the number of shares added to the insider’s holdings and is not the same as a market sell that signals liquidity-taking.