SCHWAB (SCHW) Director Stephen A. Ellis Receives 393 RSUs

What Happened

• Stephen A. Ellis, a member of the Board of Directors of Schwab Charles Corp (SCHW), was granted 393 restricted stock units (RSUs) on April 1, 2026. The Form 4 reports this as an award/acquisition (code A) of derivative securities; no per-share price or immediate cash value is listed (N/A).

Key Details

• Transaction date: 2026-04-01; Form filed: 2026-04-02 (timely; Form 4s are due within two business days).
• Security: 393 RSUs (derivative award). Report lists acquisition of RSUs rather than issuance of common shares.
• Footnotes: F1–F5 explain that each RSU converts to one share at settlement, RSUs were granted under the Directors' Deferred Compensation Plan II and are held in a rabbi trust, they will be distributed when he leaves the board, they were issued in lieu of director cash fees, and 41.22 of the RSUs reflect dividend reinvestment.
• Shares owned after transaction: Not specified in the provided filing.

Context

• RSUs are deferred compensation (a right to receive shares in the future) rather than an immediate open‑market purchase or sale; they typically do not convey current voting rights and will convert to actual shares at settlement/vesting per the plan terms. Grants like this are routine director compensation and do not, by themselves, indicate a buy or sell signal.