Bettinger Walter W 4

What Happened Walter W. Bettinger, Co-Chairman and Director of Charles Schwab Corp. (SCHW), exercised stock options and immediately sold the resulting 67,514 shares on February 6, 2026. The options were exercised at $42.99 per share (cost ~$2.90M), and the shares were sold in the open market at a weighted-average price of $104.25 per share for gross proceeds of approximately $7.04M. The Form 4 also reports the derivative (the option) as disposed in connection with the exercise.

Key Details

• Transaction date: 2026-02-06.
• Actions reported: M = option exercise (acquired 67,514 shares at $42.99 each); S = sale of 67,514 shares at a weighted-average $104.25 each (prices in trades ranged $104.25–$104.315; F1).
• Dollar amounts: exercise cost ≈ $2,902,427; sale proceeds ≈ $7,038,476.
• Shares owned after transaction: not disclosed in the provided filing summary.
• Footnotes: F1 notes multiple trades and weighted-average sale price (full trade-by-trade info available on request); F2 states the option was granted under the 2013 Stock Incentive Plan and vests in four equal annual installments beginning on the first anniversary of the grant date.
• Timeliness: Report filed 2026-02-10 for a 2026-02-06 transaction (filed within the Form 4 reporting window).

Context This was an exercise of vested options followed by an immediate open-market sale (a common "cashless" outcome where an insider converts option value to cash). Sales are often routine (e.g., liquidity or tax planning) and do not by themselves indicate management sentiment about the company's outlook. The filing is factual and does not provide the insider's motivation.