BROWN MICHAEL W 4

What Happened Michael W. Brown, a director of Stifel Financial Corp (SF), was granted 2,450 derivative units (restricted stock units) on 2026-06-09 at a reported grant value of $71.40 each, for a total value of $174,930. This was an award/acquisition (Form 4 code A) — not a market purchase — meaning Brown received compensation in the form of units that will convert to shares as they vest.

Key Details

• Transaction date: 2026-06-09; Filing date: 2026-06-11 (filed within the typical 2-business-day window).
• Award: 2,450 units at $71.40 each; total reported value $174,930.
• Vesting: Units vest quarterly over a one-year period (per footnote F1).
• Term: No expiration date for these units (per footnote F2).
• Security type: Derivative securities (units/RSUs) — not immediately tradable shares.
• Shares owned after transaction: Not specified in the provided filing.

Context This is a standard compensation award to a director rather than an open-market purchase or sale. Because the units vest over time, they only become company stock (and potentially tradable) as vesting occurs; the grant itself does not represent an immediate bullish purchase of shares.