Bettinger Walter W 4

What Happened

• Walter W. Bettinger, Co‑Chairman and Director of Charles Schwab Corporation, exercised stock options (code M) and immediately sold the resulting shares. He exercised a total of 257,410 shares (162,462 on 2026-02-03 and 94,948 on 2026-02-04) at an exercise price of $42.99 per share, paying roughly $11.07M in total. He then sold those same shares in open-market transactions for aggregate proceeds of about $26.78M (sales at weighted‑average prices near $103.85–$104.25), netting roughly $15.71M before taxes/fees. The filing shows derivative disposition entries at $0.00 reflecting the conversion/exercise of the options.

Key Details

• Transaction dates: exercises on 2026-02-03 and 2026-02-04; sales executed 2026-02-03 and 2026-02-04.
• Exercise: 162,462 shares @ $42.99 = $6,984,241 and 94,948 shares @ $42.99 = $4,081,815 (total paid ≈ $11,066,056).
• Sales: 141,033 shares @ weighted avg $103.85 = $14,646,066; 21,429 shares @ weighted avg $104.24 = $2,233,821; 94,948 shares @ weighted avg $104.25 = $9,898,519 (total proceeds ≈ $26,778,406).
• Reported weighted‑average sale prices reflect multiple trades (see F1–F3 for price ranges: ~$103.17–$104.32).
• Shares owned after the transactions are not shown in the provided excerpt of the filing.
• Relevant footnotes: F1–F3 (multiple trade price ranges / weighted averages), F4–F5 (plan statement dates), F6 (includes 6.9046 shares from dividend reinvestment), F7 (option grant under 2013 Stock Incentive Plan, standard vesting schedule).
• Filing timeliness: Form filed 2026-02-05 for transactions on 2026-02-03/04 — appears to be a timely Form 4 filing.

Context

• This pattern—exercising vested options and immediately selling the resulting shares—is a common cashless exercise and sell transaction used to cover option exercise costs, taxes, or to realize compensation value. The filing is factual and does not by itself indicate the insider’s broader view on the stock.