ZIMMERMAN MICHAEL J 4

What Happened

• Michael J. Zimmerman, a director of Stifel Financial Corp (SF), exercised or converted derivatives for 2,812 shares on 2026-06-04 (transaction code M) and the filing reports a simultaneous disposition of the same 2,812 shares. The exercise price is shown as $0 and the filing does not report cash proceeds for the disposition.

Key Details

• Transaction date: 2026-06-04 (reported on Form 4 filed 2026-06-08).
• Reported amounts: 2,812 shares acquired on exercise and 2,812 shares disposed; price shown as $0 for the derivative entries; no sale proceeds reported in the filing.
• Shares owned after transaction: not specified in the provided filing details.
• Footnotes: F1 = totals adjusted for the 3-for-2 stock split payable Feb 26, 2026; F2 = instruments were currently exercisable; F3 = no expiration date for these units.
• Timeliness: Filing was submitted on 2026-06-08 for a 2026-06-04 transaction; this appears to be a timely Form 4 (generally due within two business days).

Context

• When an option is exercised and the same number of shares are immediately disposed, it commonly reflects a cashless exercise or net settlement (shares withheld or sold to cover exercise costs). The Form 4 here does not show dollar proceeds or a separate open‑market sale, so the exact cash outcome isn’t reported. Such routine exercises and related disposals are common for management and directors and do not, by themselves, indicate a change in company outlook.