Michaud Thomas B. 4

What Happened

• Thomas B. Michaud, Senior Vice President of Stifel Financial Corp. (SF), was granted two derivative equity awards on 2026-02-27. The awards were for 17,623 units at $74.05 each (value $1,304,983) and 13,504 units at $74.05 each (value $999,971), totaling 31,127 units valued at approximately $2,304,954. These grants were reported on a Form 4 filed 2026-03-03. The Form 4 lists these as awards/grants (transaction code A), i.e., derivative equity compensation rather than open-market purchases or sales.

Key Details

• Transaction date and price: 2026-02-27 at $74.05 per unit.
• Total units and value: 31,127 units; total reported value ≈ $2,304,954.
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Footnotes: the amounts are adjusted for a 3-for-2 stock split payable Feb 26, 2026; one set of units vests in 20% increments over five years (and is noted as having no expiration); the other set vests in 10% increments over ten years.
• Filing timeliness: Form 4 filed 2026-03-03 covering a 2026-02-27 transaction — this is later than the standard two-business-day filing window for Form 4s and may be considered late.

Context

• These were equity awards (derivative units such as RSUs or similar) that vest over time; they are not immediate cash sales or open-market buys. Awards are typically compensation/retention tools and do not on their own signal insider buying or selling intent.