Schwab (SCHW) Co‑Chair Walter Bettinger Sells 176,210 Shares

What Happened

• Walter W. Bettinger, Co‑Chairman and Director of Charles Schwab (SCHW), exercised options and sold all 176,210 underlying shares on August 24, 2026. The option exercise recorded an acquisition cost of $46.81 per share (176,210 shares; $8,248,390 total). The shares were sold in the open market at a weighted average price of $113.49 per share for gross proceeds of $19,997,368. The filing also shows a derivative conversion line recorded at $0.00, consistent with the exercise/conversion and immediate sale of the shares.

Key Details

• Transaction date: August 24, 2026.
• Exercise: 176,210 shares at $46.81 each — total exercise cost $8,248,390. (Option grant under 2013 Stock Incentive Plan; vested in four equal annual installments — F4.)
• Sale: 176,210 shares disposed at a weighted average price of $113.49 — gross proceeds $19,997,368. Executed in multiple trades at $113.345–$113.615 (F2).
• Net proceeds (approx.): $19.997M − $8.248M ≈ $11.75M before taxes/fees.
• Shares owned after transaction: not specified in the provided filing excerpt — see the full Form 4 for exact post‑transaction holdings.
• Other notes: Footnote F1 reports a transfer of 81,014 shares from direct holding to a revocable trust. F3 references a plan statement as of Aug 24, 2026. The filer has committed to provide trade‑by‑trade details to the SEC or others on request (F2).
• Timeliness: Report filed Aug 26, 2026 for an Aug 24, 2026 transaction — appears timely (no late filing flag).

Context

• This sequence—exercising options and immediately selling the shares—is commonly a cashless exercise (exercise + sell) to cover option cost and taxes; it does not necessarily represent a judgment on company prospects. Taxes, brokerage fees, or any withholding are not detailed in the summary. For a complete picture (exact holdings after the trade, any planned follow‑on trades, or additional disclosures), consult the full Form 4 filing.