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    SEC Form 8-K filed by Charles Schwab Corporation

    5/23/25 4:15:22 PM ET
    $SCHW
    Investment Bankers/Brokers/Service
    Finance
    Get the next $SCHW alert in real time by email
    8-K
    SCHWAB CHARLES CORP false 0000316709 0000316709 2025-05-22 2025-05-22 0000316709 us-gaap:CommonStockMember 2025-05-22 2025-05-22 0000316709 us-gaap:SeriesDPreferredStockMember 2025-05-22 2025-05-22 0000316709 schw:SeriesJPreferredStockMember 2025-05-22 2025-05-22
     
     

    UNITED STATES

    SECURITIES AND EXCHANGE COMMISSION

    Washington, D.C. 20549

     

     

    FORM 8-K

     

     

    CURRENT REPORT

    Pursuant to Section 13 OR 15(d)

    of The Securities Exchange Act of 1934

    Date of Report (Date of earliest event reported): May 22, 2025

     

     

    The Charles Schwab Corporation

    (Exact name of registrant as specified in its charter)

     

     

     

    Delaware   1-9700   94-3025021
    (State or other jurisdiction
    of incorporation)
     

    (Commission

    File Number)

     

    (IRS Employer

    Identification No.)

     

    3000 Schwab Way

    Westlake, Texas

        76262
    (Address of principal executive offices)     (Zip Code)

    Registrant’s telephone number, including area code: (817) 859-5000

    N/A

    (Former name or former address, if changed since last report.)

     

     

    Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

     

      ☐

    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

     

      ☐

    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

     

      ☐

    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

     

      ☐

    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

    Securities registered pursuant to Section 12(b) of the Act:

     

    Title of each class

     

    Trading
    Symbol(s)

     

    Name of each exchange
    on which registered

    Common Stock - $.01 par value per share   SCHW   New York Stock Exchange
    Depositary Shares, each representing a 1/40th ownership interest in a share of 5.95% Non-Cumulative Preferred Stock, Series D   SCHW PrD   New York Stock Exchange
    Depositary Shares, each representing a 1/40th ownership interest in a share of 4.450% Non-Cumulative Preferred Stock, Series J   SCHW PrJ   New York Stock Exchange

    Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

    Emerging growth company ☐

    If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

     

     
     


    Item 5.07

    Submission of Matters to a Vote of Security Holders.

     

      (a)

    The 2025 Annual Meeting of Stockholders of The Charles Schwab Corporation (“CSC”) was held on May 22, 2025.

     

      (b)

    All nominees for director were elected, and each nominee received more “for” votes than “against” votes cast for the nominee’s election. The proposal to ratify the selection of Deloitte & Touche LLP (“Deloitte”) as CSC’s independent auditors for the 2025 fiscal year was approved. The advisory vote on named executive officer (“NEO”) compensation was approved. The stockholder proposal requesting declassification of the board of directors (the “Board”) to elect each director annually was approved. The final voting results were as follows:

     

         For      Against      Abstain      Broker
    Non-Vote
     

    1   Election of Directors

               

    (a) John K. Adams Jr.

         1,372,916,585        123,583,815        1,097,008        71,026,692  

    (b) Stephen A. Ellis

         1,330,678,070        165,823,399        1,095,940        71,026,692  

    (c) Arun Sarin

         1,291,772,746        203,860,457        1,964,206        71,026,692  

    (d) Charles R. Schwab

         1,424,198,356        71,056,124        2,342,928        71,026,692  

    (e) Paula A. Sneed

         1,316,423,016        180,134,830        1,039,562        71,026,692  

    2   Ratification of the Selection of Deloitte as Independent Auditors

         1,474,620,681        93,491,681        511,738        0  

    3   Advisory Vote to Approve NEO Compensation

         1,279,066,568        216,675,361        1,855,479        71,026,692  

    4   Stockholder Proposal Requesting Declassification of the Board to Elect Each Director Annually

         1,257,131,866        238,836,436        1,629,107        71,026,692  


    SIGNATURE

    Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

     

          THE CHARLES SCHWAB CORPORATION
    Date: May 23, 2025     By:  

    /s/ Peter J. Morgan III

          Peter J. Morgan III
          Managing Director, General Counsel and Corporate Secretary
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