Form 4: Schwab Executive Executes Stock Option Exercise and Sale

Jonathan M. Craig, MD of Retail Investing at Charles Schwab, exercised 21,750 stock options and sold the resulting shares.

Summary

• Jonathan M. Craig, MD, Head of Retail Investing at Charles Schwab, exercised 21,750 nonqualified stock options at a strike price of $46.81.
• The acquired shares were subsequently sold at a weighted average price of $99.0035 per share.
• The transaction was executed pursuant to a Rule 10b5-1 trading plan adopted on November 11, 2025.
• Following the transaction, the reporting person holds 65,366 derivative securities.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral event, as the transaction was conducted under a pre-established 10b5-1 trading plan, which is a routine administrative action for corporate officers.

Positives

• The transaction was pre-planned under a Rule 10b5-1 trading plan, indicating the sale was not based on non-public information.
• The executive successfully exercised options that were granted under the 2013 Stock Incentive Plan.

Negatives

• The executive reduced their direct equity position in the company through the sale of 21,750 shares.

Risks

• The reporting person remains subject to market volatility regarding their remaining derivative holdings.

Future Outlook

No specific forward-looking guidance regarding company performance was provided in this filing.

Industry Context

StockSavvy.ai notes that executive stock sales executed via 10b5-1 plans are standard corporate practice and generally do not signal a change in management sentiment regarding the company's long-term prospects.

Comparison to Industry Standards

• The use of Rule 10b5-1 plans is the industry standard for executives to liquidate equity positions while maintaining compliance with SEC insider trading regulations.

Stakeholder Impact

• Minimal impact on shareholders as the sale was pre-planned and executed at market prices.

Next Steps

• The reporting person will continue to report future changes in beneficial ownership as required by Section 16(a) of the Securities Exchange Act.

Key Dates

Keywords

Charles Schwab, SCHW, Insider Trading, Form 4, Stock Options, Retail Investing