Form 4: Stifel President Exercises Phantom Stock, Sells Shares

Stifel Financial Corp. President James M. Zemlyak exercised phantom stock units and subsequently sold shares, including a tax-related withholding.

Summary

• James M. Zemlyak, President of Stifel Financial Corp., reported transactions involving the company's common stock and phantom stock units.
• On January 30, 2026, Mr. Zemlyak exercised 5,644 phantom stock units, converting them into 5,644 shares of common stock at an exercise price of $0.
• Following the exercise, Mr. Zemlyak directly owned 1,155,620 shares of common stock.
• On the same day, January 30, 2026, 2,487 shares of common stock were disposed of at a price of $126.24 to cover tax liabilities (transaction code 'F').
• This tax-related disposition reduced his direct beneficial ownership to 1,153,133 shares.
• Additionally, on January 29, 2026, 9 shares of common stock were sold at $123.9, with these shares being indirectly owned by his son, resulting in 7,072 shares indirectly owned by his son.
• Mr. Zemlyak also has 421 shares indirectly owned by his wife.
• After all reported transactions, Mr. Zemlyak directly beneficially owns 1,153,133 shares of common stock and 55,140 phantom stock units.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral event. The exercise of phantom stock units is a positive for the executive's compensation, while the subsequent sales, particularly for tax purposes, are routine and do not suggest a negative outlook on the company.

Positives

• The exercise of 5,644 phantom stock units indicates the vesting and realization of executive compensation, reflecting value creation for the executive.

Negatives

• A total of 2,496 shares (2,487 for tax withholding and 9 by son) were disposed of, which represents a reduction in direct and indirect beneficial ownership.

Future Outlook

NA

Industry Context

StockSavvy.ai notes that this Form 4 filing details routine insider transactions, specifically the exercise of phantom stock units and subsequent sales, including a portion for tax withholding. Such transactions are common for executives as part of their compensation plans and typically do not indicate a significant shift in company strategy or performance.

Stakeholder Impact

• Shareholders: Minimal impact as these are routine insider transactions related to executive compensation and tax obligations, not indicative of significant operational or strategic changes.

Key Dates

Keywords

Stifel Financial, SF, Insider Transaction, Form 4, Executive Compensation, Phantom Stock Units, Stock Sale, Tax Withholding