Raymond Charles Bradford 4

What Happened
Raymond Charles Bradford, Co-Head Global Institutional Equity Advisory at Stifel Financial, had derivative/PRSU activity on 2026-03-09. The filing shows: conversion/exercise of 53,241 derivative units, a grant/award of 60,673 units, and 29,443 shares disposed to satisfy tax withholding at $73.05 per share (totaling about $2,150,811). The reported acquisition prices for the derivative/award entries are $0.00 (typical for RSU/PRSU settlements).

Key Details

• Transaction date: 2026-03-09; Form 4 filed 2026-03-11 (appears timely).
• Tax withholding: 29,443 shares disposed at $73.05 each for ~$2,150,811 (code F). This is a withholding/surrender, not an open-market sale.
• Award/units: 60,673 units granted (PRSU-related). Per footnote, 80% vested now and the remaining 20% vests in one year.
• Exercise/conversion: 53,241 derivative units were converted/exercised (entries show $0.00 price). Footnotes indicate units are currently exercisable and have no expiration date.
• Shares owned after the transactions: not specified in the filing.

Context
This was largely a grant/settlement and conversion of PRSU/derivative units with a tax-withholding disposition. The 29,443-share disposition reflects withholding to cover taxes (common on vesting/settlement), not a market sale that signals a directional view. The 80%/20% vesting schedule (from a 2022 PRSU grant) means some of the award remains subject to future vesting.