SCHW Director Stephen A. Ellis Exercises Options for 2,258 Shares

What Happened

• Stephen A. Ellis, a director of Charles Schwab Corp. (SCHW), exercised stock options on 2026-06-23. He acquired 2,258 shares at an exercise price of $25.11 per share, for a total exercise cost of $56,698. The derivative (option) was simultaneously converted/terminated (listed as a disposal at $0), reflecting the exercise.
• Per filing footnotes, the shares received on exercise were contributed to a trust (F1) and/or transferred from direct ownership into a trust (F2). The option was granted under the Directors' Deferred Compensation Plan II and vested immediately (F3).

Key Details

• Transaction date: 2026-06-23; Filing date: 2026-06-25 (filed within the typical 2-business-day Form 4 window).
• Exercise details: 2,258 shares @ $25.11 = $56,698 (code M — option exercise).
• Derivative disposal: 2,258 units listed as disposed at $0, indicating conversion of the option into stock.
• Shares owned after the transaction: Not specified in the provided summary of the filing.
• Footnotes: F1 (shares contributed to a trust), F2 (shares transferred to a trust), F3 (option from Directors' Deferred Compensation Plan II, vested immediately).
• No sale of shares reported in this filing (no open-market sale or cashless sale shown).

Context

• This was an exercise of director options, not an open-market buy or sale — the option was converted into shares and placed into a trust. Such option exercises are often routine compensation events for directors and do not necessarily signal a change in sentiment about the company.