Schwab Co-Chair Walter Bettinger Exercises Options, Sells 74,388 Shares

What Happened

• Walter W. Bettinger, Co‑Chairman and Director of Schwab Charles Corp (SCHW), exercised stock options and immediately sold the resulting 74,388 shares on Aug 28, 2026. He paid $46.81 per share to exercise (total cost $3,482,102) and sold the shares in the open market at a weighted average price of $110.91 per share (total sale proceeds $8,250,648). The transaction effectively converted options to shares and then disposed of those shares (a common "cashless exercise" pattern).

Key Details

• Transaction date: 2026-08-28; Form 4 filed: 2026-08-31 (filing appears timely).
• Exercise: 74,388 shares at $46.81 per share (total $3,482,102).
• Sale: 74,388 shares at weighted average ~$110.91 per share (total $8,250,648). Trades executed at prices from $110.90 to $110.98 (footnote F1).
• Reported derivative disposition at $0.00 reflects the option conversion/exercise.
• Footnote F2: includes 7.0627 shares acquired via dividend reinvestment.
• Footnote F3: the option was granted under the company’s 2013 Stock Incentive Plan and vested in four equal annual installments beginning on the first anniversary of the grant date.
• Shares owned after the transaction are not specified in the details provided.

Context

• This is an option exercise followed by an immediate open‑market sale (cashless exercise), which is commonly done to cover exercise costs, taxes, or to monetize vested equity. Such sales are routine insider transactions and do not, by themselves, indicate the insider’s long‑term view of the company.