Charles Schwab Director Stephen A. Ellis Acquires 369 RSUs in Lieu of Cash Retainer

Overview & Context

On October 5, 2026, Stephen A. Ellis, a member of the Board of Directors of The Charles Schwab Corporation ($SCHW), filed a Form 4 disclosing the receipt of 369 Restricted Stock Units (RSUs) on October 1, 2026.

Transaction Breakdown

• Security: Restricted Stock Units (each representing the right to receive one share of Common Stock)
• Transaction Code: A (Award / Grant)
• Volume: 369 units
• Consideration: Granted pursuant to the Directors' Deferred Compensation Plan II in lieu of cash compensation otherwise payable as director fees.
• Custody & Vesting: Held in a rabbi trust for the benefit of Mr. Ellis, payable upon his departure from the Board of Directors.
• Resulting Ownership: 13,683.75 derivative units directly held following the transaction (inclusive of 38.29 RSUs previously acquired through dividend reinvestment).

Market & Trading Significance

This transaction carries Low significance for market participants. The acquisition reflects standard non-employee director compensation where quarterly retainer fees are elected to be received as equity rather than cash. It does not represent open-market buying or selling activity.