Form 4: Marianne Catherine Brown Reports Acquisition of Schwab Restricted Stock Units

Director Marianne Catherine Brown acquired 519 restricted stock units (RSUs) of Schwab common stock on April 1, 2024, through the Directors' Deferred Compensation Plan II.

Summary

• Marianne Catherine Brown, a director of Schwab, reported the acquisition of 519 restricted stock units (RSUs) on April 1, 2024.
• The RSUs were received under the Directors' Deferred Compensation Plan II and are held in a rabbi trust.
• These RSUs are distributed when Brown leaves the Board of Directors.
• The RSUs were received in lieu of cash compensation for director fees.
• The reporting person directly owns 3,939.77 RSUs.
• This amount includes 13.07 RSUs acquired through dividend reinvestment.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive. The acquisition of RSUs is a routine part of director compensation and aligns interests with shareholders.

Positives

• The acquisition of RSUs demonstrates a continued alignment of the director's interests with those of the company and its shareholders.

Industry Context

Director compensation through stock and equity grants is a common practice in the financial services industry to align the interests of board members with shareholders.

Comparison to Industry Standards

• Companies like Goldman Sachs, Morgan Stanley, and JP Morgan Chase also utilize deferred compensation plans and stock grants for their directors.
• The specifics of these plans vary, but the underlying principle of aligning director compensation with long-term shareholder value is consistent across the industry.

Stakeholder Impact

• The acquisition of RSUs aligns the director's interests with those of the shareholders.

Key Dates