Charles Schwab Co-Chairman Walter Bettinger Exercises & Sells $8.25M in Stock

Executive Summary

On August 28, 2026, Walter W. Bettinger, Co-Chairman and Director of The Charles Schwab Corporation (NYSE: SCHW), executed a stock option exercise and subsequent sale of 74,388 shares of common stock.

Transaction Breakdown

• Derivative Exercise (Code M): Exercised nonqualified stock options to acquire 74,388 shares at an exercise price of $46.81 per share.
• Open Market Sale (Code S): Sold all 74,388 acquired shares via Family Trust at a volume-weighted average price of $110.9137 (range: $110.90 – $110.98), generating gross proceeds of $8,250,648.32.
• Net Cash Realized: Approximately $4.77 million pre-tax above the option strike price.

Post-Transaction Ownership

Following these transactions, Walter Bettinger retains substantial indirect exposure to SCHW equity:

• Family Trust: 610,360 shares
• ESOP: 6,728.899 shares
• ESPP: 4,334 shares
• Spouse / Spouse as Trustee: 2,586.2665 shares
• Unexercised Stock Options: 154,589 options expiring March 1, 2029

Strategic Takeaway

This transaction represents a standard exercise-and-sell pattern to monetize expiring/vested stock option awards granted under the company's long-term incentive plan. While the transaction dollar value is material ($8.25M), it does not reduce the insider's core long-term equity baseline holdings significantly.