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    SEC Form SC 13D/A filed by Charles Schwab Corporation (Amendment)

    2/24/23 9:56:00 PM ET
    $SCHW
    Investment Bankers/Brokers/Service
    Finance
    Get the next $SCHW alert in real time by email
    SC 13D/A 1 d464606dsc13da.htm SC 13D/A SC 13D/A

     

     

    UNITED STATES

    SECURITIES AND EXCHANGE COMMISSION

    Washington, D.C. 20549

     

     

    SCHEDULE 13D

    Under the Securities Exchange Act of 1934

    (Amendment No. 21)*

     

     

    The Charles Schwab Corporation

    (Name of Issuer)

    Common Stock, par value $0.01 per share

    (Title of Class of Securities)

    808513-10-5

    (CUSIP Number)

    Teresa L. Johnson, Esq.

    Arnold & Porter Kaye Scholer LLP

    Three Embarcadero Center, Tenth Floor

    San Francisco, CA 94111-4024

    (415) 471-3100

    (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

    November 1, 2022

    (Date of Event Which Requires Filing of this Statement)

     

     

    If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. ☐

     

     

    Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See §240.13d-7 for other parties to whom copies are to be sent.

     

     

     

    *

    The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

    The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

     

     

     


    CUSIP No. 808513-10-5    13D    Page 2 of 10 Pages

     

      1.    

      Names of Reporting Persons

     

      CHARLES R. SCHWAB

      2.  

      Check the Appropriate Box if a Member of a Group (See Instructions)

      (a)  ☐        (b)  ☐

     

      3.  

      SEC Use Only

     

      4.  

      Source of Funds (See Instructions)

     

      5.  

      Check if Disclosure of Legal Proceedings Is Required Pursuant to Item 2(d) or 2(e)

     

      ☐

      6.  

      Citizenship or Place of Organization

     

      United States of America

    Number of

    Shares

     Beneficially 

    Owned by

    Each

    Reporting

    Person

    With

     

         7.     

      Sole Voting Power

     

      21,554,556

         8.   

      Shared Voting Power

     

      86,338,491

         9.   

      Sole Dispositive Power

     

      21,554,556

       10.   

      Shared Dispositive Power

     

      86,444,719

    11.    

      Aggregate Amount Beneficially Owned by Each Reporting Person

     

      107,999,275

    12.  

      Check if the Aggregate Amount in Row 11 Excludes Certain Shares (See Instructions)

     

      ☐

    13.  

      Percent of Class Represented by Amount in Row 11

     

      6.1%

    14.  

      Type of Reporting Person (See Instructions)

     

      IN

     

    *

    Shares reported on this cover page are as of February 24, 2023. The percentage of the Common Stock beneficially owned by Mr. Schwab that is reported on this cover page is based on a total of 1,778,029,051 shares of the Issuer’s Common Stock outstanding as of February 23, 2023.


    CUSIP No. 808513-10-5    13D    Page 3 of 10 Pages

     

    Item 1. Security and Issuer.

    This Amendment No. 21 to Schedule 13D (this “Schedule 13D”) relates to the voting common stock, par value $0.01 per share (“Common Stock”), of The Charles Schwab Corporation (the “Issuer”).

    The address of the principal executive office of the Issuer is:

    The Charles Schwab Corporation

    3000 Schwab Way

    Westlake, Texas 76262

    Item 2. Identity and Background.

     

      (a)

    Mr. Charles R. Schwab

     

      (b)

    The Charles Schwab Corporation

    3000 Schwab Way

    Westlake, Texas 76262

     

      (c)

    Co-Chairman and Director

    The Charles Schwab Corporation

    3000 Schwab Way

    Westlake, Texas 76262

     

      (d)

    Inapplicable

     

      (e)

    Inapplicable

     

      (f)

    United States of America

    Item 3. Source and Amount of Funds or Other Consideration.

    Inapplicable

    Item 4. Purpose of Transaction.

    The shares of Common Stock are held for personal investment, except as noted in Item 5 below.

    Item 5. Interest in Securities of the Issuer.

    (a) 107,999,275 shares of Common Stock (including 1,265,582 shares which may be acquired within 60 days upon exercise of options) reported as of February 24, 2023 represent (for the purposes of this Schedule 13D) approximately 6.1% of the Common Stock outstanding.

    (b) The 107,999,275 shares of Common Stock referred to in Item 5(a) above consist of: (i) 21,554,556 shares of Common Stock as to which Mr. Schwab may be deemed to have sole voting and dispositive power (including 1,265,582 shares which may be acquired within 60 days upon exercise of options; 226,880 shares held by The Charles R. Schwab Foundation for Financial Freedom, a nonprofit public benefit corporation as to which Mr. Schwab is a director but disclaims beneficial ownership; 6,000 shares held in the Lilly Marie Huys O’Neill Trust for which Mr. Schwab acts as trustee but disclaims beneficial ownership; and 20,056,094 shares held by certain trusts for which Mr. Schwab acts as trustee); (ii) 106,228 shares of Common Stock as to which Mr. Schwab may be deemed to have shared dispositive power but no voting power (held by The CRS 2016 Sibling Grantor Retained Annuity Trust for which Mr. Schwab has a nondurable power of attorney); and (iii) 86,338,491 shares of Common Stock as to which Mr. Schwab may be deemed to have shared voting and dispositive power (including 39,264,089 shares held by Mr. and Mrs. Schwab as trustees of The Charles & Helen Schwab Living Trust (“The Schwab Living Trust”); 9,216,012 shares held


    CUSIP No. 808513-10-5    13D    Page 4 of 10 Pages

     

    by Mrs. Schwab as trustee of The Charles & Helen Schwab Living Trust; 15,272,277 shares held by HOS CSP Investments LP, a limited partnership organized and existing under the laws of the State of Texas as to which Mr. and Mrs. Schwab are two of three members with shared voting and dispositive power; 15,458,979 shares held by HOS MBS Investments LP, a limited partnership organized and existing under the laws of the State of Texas as to which Mr. and Mrs. Schwab are two of three members with shared voting and dispositive power; 6,636,186 shares held by the Charles & Helen Schwab Foundation, a nonprofit public benefit corporation as to which Mr. and Mrs. Schwab are directors with shared voting and dispositive power but disclaim beneficial ownership; 385,000 shares held in the Helen O. Schwab Generation Skipping Trust; 61,923 shares held in trusts for the benefit of Mr. Schwab’s grandchildren; and 44,025 shares held by 188 Corp., a corporation incorporated under the laws of the State of California as to which Mr. and Mrs. Schwab are directors with shared voting and dispositive power).

    (c) The following transactions in Common Stock were effected in the sixty days prior to the filing of this Schedule 13D:

     

    Date of

    Transaction

      

    Amount of

    Securities
    Involved

      

    Nature of Transaction

      

    Price Per Share

      

    Where and How

    Effected

    12/27/2022    6,500,261    Disposition    N/A    Gifts by certain trusts for which Mr. Schwab acts as trustee
    12/27/2022    5,719,560    Disposition/Acquisition    N/A    Gifts by certain trusts for which Mr. Schwab acts as trustee to The Schwab Living Trust
    1/30/2023    4,123,642    Disposition/Acquisition    N/A    Gift by a certain trust for which Mr. Schwab acts as trustee to The Schwab Living Trust
    1/30/2023    4,123,642    Disposition/Acquisition    N/A    Gift by a certain trust for which Mrs. Schwab acts as trustee to The Schwab Living Trust
    1/30/2023    6,500    Disposition    N/A    Gift by Charles & Helen Schwab Foundation
    2/1/2023    121,066    Acquisition    $16.40    Share issuance to The Schwab Living Trust in connection with option exercise
    2/1/2023    121,066    Disposition    $77.8431(1)    Open Market Sale by The Schwab Living Trust
    2/3/2023    63,780    Disposition    N/A    Gift by The Charles R. Schwab Foundation for Financial Freedom
    2/3/2023    64,515    Disposition    $79.7624(2)    Open Market Sale by HOS MBS Investments LP


    CUSIP No. 808513-10-5    13D    Page 5 of 10 Pages

     

    Date of

    Transaction

      

    Amount of

    Securities
    Involved

      

    Nature of Transaction

      

    Price Per Share

      

    Where and

    How Effected

    2/3/2023    64,515    Disposition    $79.7624(2)    Open Market Sale by HOS CSP Investments LP
    2/6/2023    62,890    Disposition    $80.0971(3)    Open Market Sale by HOS MBS Investments LP
    2/6/2023    62,890    Disposition    $80.0971(3)    Open Market Sale by HOS CSP Investments LP
    2/6/2023    62,890    Disposition    $80.0216(4)    Open Market Sale by The Schwab Living Trust
    2/7/2023    62,890    Disposition    $81.0702(5)    Open Market Sale by HOS CSP Investments LP
    2/7/2023    62,895    Disposition    N/A    Gift by a certain trust for which Mr. Schwab acts as trustee
    2/8/2023    62,500    Disposition    $81.5373(6)    Open Market Sale by HOS CSP Investments LP
    2/13/2023    41,980    Disposition    $81.0335(7)    Open Market Sale by a certain trust for which Mr. Schwab acts as trustee
    2/13/2023    41,980    Disposition    $81.033(8)    Open Market Sale by a certain trust for which Mr. Schwab acts as trustee
    2/13/2023    11,070    Disposition    $81.052(9)    Open Market Sale by a certain trust for which Mr. Schwab acts as trustee
    2/13/2023    62,500    Disposition    N/A    Gift by The Schwab Living Trust
    2/14/2023    13,880    Disposition    $80.6433(10)    Open Market Sale by a certain trust for which Mr. Schwab acts as trustee
    2/14/2023    13,710    Disposition    $80.6584(11)    Open Market Sale by a certain trust for which Mr. Schwab acts as trustee
    2/14/2023    1,185    Disposition    $80.6739(12)    Open Market Sale by a certain trust for which Mr. Schwab acts as trustee
    2/24/2023    37,975    Disposition    N/A    Gift by a certain trust for which Mr. Schwab acts as trustee


    CUSIP No. 808513-10-5    13D    Page 6 of 10 Pages

     

    (1)

    This transaction was executed in multiple trades at prices ranging from $77.50 to $78.155. The price reported reflects the weighted average sale price. Mr. Schwab hereby undertakes to provide upon request to the SEC staff full information regarding the number of shares and prices at which the transaction was effected.

    (2)

    This transaction was executed in multiple trades at prices ranging from $79.33 to $80.19. The price reported reflects the weighted average sale price. Mr. Schwab hereby undertakes to provide upon request to the SEC staff full information regarding the number of shares and prices at which the transaction was effected.

    (3)

    This transaction was executed in multiple trades at prices ranging from $79.81 to $80.48. The price reported reflects the weighted average sale price. Mr. Schwab hereby undertakes to provide upon request to the SEC staff full information regarding the number of shares and prices at which the transaction was effected.

    (4)

    This transaction was executed in multiple trades at prices ranging from $79.815 to $80.225. The price reported reflects the weighted average sale price. Mr. Schwab hereby undertakes to provide upon request to the SEC staff full information regarding the number of shares and prices at which the transaction was effected.

    (5)

    This transaction was executed in multiple trades at prices ranging from $80.895 to $81.32. The price reported reflects the weighted average sale price. Mr. Schwab hereby undertakes to provide upon request to the SEC staff full information regarding the number of shares and prices at which the transaction was effected.

    (6)

    This transaction was executed in multiple trades at prices ranging from $81.27 to $81.89. The price reported reflects the weighted average sale price. Mr. Schwab hereby undertakes to provide upon request to the SEC staff full information regarding the number of shares and prices at which the transaction was effected.

    (7)

    This transaction was executed in multiple trades at prices ranging from $80.82 to $81.17. The price reported reflects the weighted average sale price. Mr. Schwab hereby undertakes to provide upon request to the SEC staff full information regarding the number of shares and prices at which the transaction was effected.

    (8)

    This transaction was executed in multiple trades at prices ranging from $80.82 to $81.17. The price reported reflects the weighted average sale price. Mr. Schwab hereby undertakes to provide upon request to the SEC staff full information regarding the number of shares and prices at which the transaction was effected.

    (9)

    This transaction was executed in multiple trades at prices ranging from $80.83 to $81.16. The price reported reflects the weighted average sale price. Mr. Schwab hereby undertakes to provide upon request to the SEC staff full information regarding the number of shares and prices at which the transaction was effected.

    (10)

    This transaction was executed in multiple trades at prices ranging from $80.59 to $80.75. The price reported reflects the weighted average sale price. Mr. Schwab hereby undertakes to provide upon request to the SEC staff full information regarding the number of shares and prices at which the transaction was effected.

    (11)

    This transaction was executed in multiple trades at prices ranging from $80.59 to $80.775. The price reported reflects the weighted average sale price. Mr. Schwab hereby undertakes to provide upon request to the SEC staff full information regarding the number of shares and prices at which the transaction was effected.

    (12)

    This transaction was executed in multiple trades at prices ranging from $80.64 to $80.70. The price reported reflects the weighted average sale price. Mr. Schwab hereby undertakes to provide upon request to the SEC staff full information regarding the number of shares and prices at which the transaction was effected.

     

    (d)

    No other person has the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the shares of Common Stock beneficially owned by Mr. Schwab, except for The CRS 2016 Sibling Grantor Retained Annuity Trust, the Charles & Helen Schwab Foundation, HOS MBS Investments LP and HOS CSP Investments LP, as noted in Item 5(b) above.


    CUSIP No. 808513-10-5    13D    Page 7 of 10 Pages

     

    (e) Inapplicable

    Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer.

     

    1.    Non-Qualified Stock Option Agreement dated as of August 1, 2013 between The Charles Schwab Corporation and Mr. Schwab pursuant to the 2004 Stock Incentive Plan.
    2.    Non-Qualified Stock Option Agreement dated as of November 1, 2013 between The Charles Schwab Corporation and Mr. Schwab pursuant to the 2004 Stock Incentive Plan.
    3.    Non-Qualified Stock Option Agreement dated as of March 3, 2014 between The Charles Schwab Corporation and Mr. Schwab pursuant to the 2013 Stock Incentive Plan.
    4.    Non-Qualified Stock Option Agreement dated as of August 1, 2014 between The Charles Schwab Corporation and Mr. Schwab pursuant to the 2013 Stock Incentive Plan.
    5.    Non-Qualified Stock Option Agreement dated as of November 3, 2014 between The Charles Schwab Corporation and Mr. Schwab pursuant to the 2013 Stock Incentive Plan.
    6.    Non-Qualified Stock Option Agreement dated as of March 2, 2015 between The Charles Schwab Corporation and Mr. Schwab pursuant to the 2013 Stock Incentive Plan.
    7.    Non-Qualified Stock Option Agreement dated as of March 1, 2016 between The Charles Schwab Corporation and Mr. Schwab pursuant to the 2013 Stock Incentive Plan.
    8.    Non-Qualified Stock Option Agreement dated as of March 1, 2017 between The Charles Schwab Corporation and Mr. Schwab pursuant to the 2013 Stock Incentive Plan.
    9.    Non-Qualified Stock Option Agreement dated as of March 1, 2018 between The Charles Schwab Corporation and Mr. Schwab pursuant to the 2013 Stock Incentive Plan.
    10.    Restricted Stock Unit Agreement dated as of March 1, 2019 between The Charles Schwab Corporation and Mr. Schwab pursuant to the 2013 Stock Incentive Plan.
    11.    Non-Qualified Stock Option Agreement dated as of March 1, 2019 between The Charles Schwab Corporation and Mr. Schwab pursuant to the 2013 Stock Incentive Plan.
    12.    Form of Power of Attorney of Beneficiary of The CRS 2016 Sibling Grantor Retained Annuity Trust.
    13.    Registration Rights Agreement dated as of November 24, 2019 by and among The Charles Schwab Corporation, Mr. Schwab, The Toronto-Dominion Bank and, if they elect to be parties thereto, certain other stockholders described therein. The information in Item 4 of Amendment No. 19 to Mr. Schwab’s Schedule 13D dated November 29, 2019 is incorporated herein by reference.
    14.    Restricted Stock Unit Agreement dated as of March 2, 2020 between The Charles Schwab Corporation and Mr. Schwab pursuant to the 2013 Stock Incentive Plan.
    15.    Non-Qualified Stock Option Agreement dated as of March 2, 2020 between The Charles Schwab Corporation and Mr. Schwab pursuant to the 2013 Stock Incentive Plan.
    16.    Non-Qualified Stock Option Agreement dated as of March 1, 2021 between The Charles Schwab Corporation and Mr. Schwab pursuant to the 2013 Stock Incentive Plan.


    CUSIP No. 808513-10-5    13D    Page 8 of 10 Pages

     

    17.    Restricted Stock Unit Agreement dated as of March 1, 2021 between The Charles Schwab Corporation and Mr. Schwab pursuant to the 2013 Stock Incentive Plan.
    18.    Non-Qualified Stock Option Agreement dated as of March 1, 2022 between The Charles Schwab Corporation and Mr. Schwab pursuant to the 2013 Stock Incentive Plan.
    19.    Restricted Stock Unit Agreement dated as of March 1, 2022 between The Charles Schwab Corporation and Mr. Schwab pursuant to the 2013 Stock Incentive Plan.

    Also, the responses to Item 5 of this Schedule 13D are incorporated herein by reference.

    Item 7. Material to Be Filed as Exhibits.

     

    1.    Non-Qualified Stock Option Agreement dated as of August 1, 2013 between The Charles Schwab Corporation and Mr. Schwab pursuant to the 2004 Stock Incentive Plan (incorporated by reference to Exhibit 20 to Amendment No. 16 to Mr. Schwab’s Schedule 13D dated October 15, 2014).
    2.    Non-Qualified Stock Option Agreement dated as of November 1, 2013 between The Charles Schwab Corporation and Mr. Schwab pursuant to the 2004 Stock Incentive Plan (incorporated by reference to Exhibit 21 to Amendment No. 16 to Mr. Schwab’s Schedule 13D dated October 15, 2014).
    3.    Non-Qualified Stock Option Agreement dated as of March 3, 2014 between The Charles Schwab Corporation and Mr. Schwab pursuant to the 2013 Stock Incentive Plan (incorporated by reference to Exhibit 22 to Amendment No. 16 to Mr. Schwab’s Schedule 13D dated October 15, 2014).
    4.    Non-Qualified Stock Option Agreement dated as of August 1, 2014 between The Charles Schwab Corporation and Mr. Schwab pursuant to the 2013 Stock Incentive Plan (incorporated by reference to Exhibit 24 to Amendment No. 16 to Mr. Schwab’s Schedule 13D dated October 15, 2014).
    5.    Non-Qualified Stock Option Agreement dated as of November 3, 2014 between The Charles Schwab Corporation and Mr. Schwab pursuant to the 2013 Stock Incentive Plan (incorporated by reference to Exhibit 25 to Amendment No. 17 to Mr. Schwab’s Schedule 13D dated August 13, 2015).
    6.    Non-Qualified Stock Option Agreement dated as of March 2, 2015 between The Charles Schwab Corporation and Mr. Schwab pursuant to the 2013 Stock Incentive Plan (incorporated by reference to Exhibit 27 to Amendment No. 17 to Mr. Schwab’s Schedule 13D dated August 13, 2015).
    7.    Non-Qualified Stock Option Agreement dated as of March 1, 2016 between The Charles Schwab Corporation and Mr. Schwab pursuant to the 2013 Stock Incentive Plan (incorporated by reference to Exhibit 29 to Amendment No. 18 to Mr. Schwab’s Schedule 13D dated January 10, 2018).
    8.    Non-Qualified Stock Option Agreement dated as of March 1, 2017 between The Charles Schwab Corporation and Mr. Schwab pursuant to the 2013 Stock Incentive Plan (incorporated by reference to Exhibit 31 to Amendment No. 18 to Mr. Schwab’s Schedule 13D dated January 10, 2018).
    9.    Non-Qualified Stock Option Agreement dated as of March 1, 2018 between The Charles Schwab Corporation and Mr. Schwab pursuant to the 2013 Stock Incentive Plan (incorporated by reference to Exhibit 33 to Amendment No. 19 to Mr. Schwab’s Schedule 13D dated November 29, 2019).
    10.    Restricted Stock Unit Agreement dated as of March 1, 2019 between The Charles Schwab Corporation and Mr. Schwab pursuant to the 2013 Stock Incentive Plan (incorporated by reference to Exhibit 34 to Amendment No. 19 to Mr. Schwab’s Schedule 13D dated November 29, 2019).


    CUSIP No. 808513-10-5    13D    Page 9 of 10 Pages

     

    11.    Non-Qualified Stock Option Agreement dated as of March 1, 2019 between The Charles Schwab Corporation and Mr. Schwab pursuant to the 2013 Stock Incentive Plan (incorporated by reference to Exhibit 35 to Amendment No. 19 to Mr. Schwab’s Schedule 13D dated November 29, 2019).
    12.    Form of Power of Attorney of Beneficiary of The CRS 2016 Sibling Grantor Retained Annuity Trust (incorporated by reference to Exhibit 36 to Amendment No. 19 to Mr. Schwab’s Schedule 13D dated November 29, 2019).
    13.    Registration Rights Agreement dated as of November 24, 2019 by and among The Charles Schwab Corporation, Mr. Schwab, The Toronto-Dominion Bank and, if they elect to be parties thereto, certain other stockholders described therein (incorporated by reference to Exhibit 10.5 of the Issuer’s Current Report on Form 8-K filed with the Commission on November 29, 2019 (File No. 1-9700)).
    14.    Restricted Stock Unit Agreement dated as of March 2, 2020 between The Charles Schwab Corporation and Mr. Schwab pursuant to the 2013 Stock Incentive Plan (incorporated by reference to Exhibit 39 to Amendment No. 20 to Mr. Schwab’s Schedule 13D dated November 13, 2020).
    15.    Non-Qualified Stock Option Agreement dated as of March 2, 2020 between The Charles Schwab Corporation and Mr. Schwab pursuant to the 2013 Stock Incentive Plan (incorporated by reference to Exhibit 40 to Amendment No. 20 to Mr. Schwab’s Schedule 13D dated November 13, 2020).
    16.    Non-Qualified Stock Option Agreement dated as of March 1, 2021 between The Charles Schwab Corporation and Mr. Schwab pursuant to the 2013 Stock Incentive Plan.*
    17.    Restricted Stock Unit Agreement dated as of March 1, 2021 between The Charles Schwab Corporation and Mr. Schwab pursuant to the 2013 Stock Incentive Plan.*
    18.    Non-Qualified Stock Option Agreement dated as of March 1, 2022 between The Charles Schwab Corporation and Mr. Schwab pursuant to the 2013 Stock Incentive Plan.*
    19.    Restricted Stock Unit Agreement dated as of March 1, 2022 between The Charles Schwab Corporation and Mr. Schwab pursuant to the 2013 Stock Incentive Plan.*

     

    *

    Filed herewith.


    CUSIP No. 808513-10-5    13D    Page 10 of 10 Pages

     

    Signature

    After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

    Dated: February 24, 2023

     

    /s/ Charles R. Schwab

    Charles R. Schwab
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    The Charles Schwab Corporation announced today that it has scheduled a Fall Business Update for institutional investors on Thursday, October 16th. This Update, which will be held via live public webcast, is part of an ongoing series designed to help the investment community keep abreast of recent developments and management's strategic focus areas. The program is scheduled to run from 7:30 a.m. - 8:30 a.m. CT, 8:30 a.m. - 9:30 a.m. ET. Participants will include President and Chief Executive Officer Rick Wurster and Chief Financial Officer Mike Verdeschi. The Update will be accessible at https://schwabevents.com/corporation. About Charles Schwab The Charles Schwab Corporation (NYSE:SCH

    9/18/25 8:45:00 AM ET
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    Charles Schwab Announces Branch Network Expansion and the Addition of 400 Branch-Related Roles to Meet Increasing Client Needs and Fuel Further Growth

    Charles Schwab today revealed details of a significant expansion of its branch network, underscoring the firm's commitment to serve its fast-growing retail client base through a range of channels, including in-person guidance, relationships, and service. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250917812584/en/Charles Schwab recently opened a new branch in downtown Austin. Schwab currently operates nearly 400 branches across the United States – locations that play a critical role in serving clients as well as driving client and asset growth for the firm. Schwab is adding 16 new branches and expanding or relocating 25 exist

    9/17/25 6:00:00 AM ET
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    SEC Form 10-Q filed by Charles Schwab Corporation

    10-Q - SCHWAB CHARLES CORP (0000316709) (Filer)

    8/8/25 4:19:59 PM ET
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    Charles Schwab Corporation filed SEC Form 8-K: Results of Operations and Financial Condition, Financial Statements and Exhibits

    8-K - SCHWAB CHARLES CORP (0000316709) (Filer)

    7/18/25 4:20:11 PM ET
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    SEC Form 11-K filed by Charles Schwab Corporation

    11-K - SCHWAB CHARLES CORP (0000316709) (Filer)

    6/10/25 4:22:41 PM ET
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    Insider Trading

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    Director Ellis Stephen A exercised 2,105 shares at a strike of $28.55, increasing direct ownership by 46% to 6,660 units (SEC Form 4)

    4 - SCHWAB CHARLES CORP (0000316709) (Issuer)

    9/26/25 9:35:14 PM ET
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    Director Schwab-Pomerantz Carolyn sold $2,319,300 worth of shares (24,000 units at $96.64) (SEC Form 4)

    4 - SCHWAB CHARLES CORP (0000316709) (Issuer)

    9/5/25 8:01:46 PM ET
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    MD, Chief Banking Officer Woolway Paul V sold $305,127 worth of shares (3,205 units at $95.20) (SEC Form 4)

    4 - SCHWAB CHARLES CORP (0000316709) (Issuer)

    9/3/25 7:31:18 PM ET
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    Insider Purchases

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    Co-Chairman and CEO Bettinger Walter W bought $1,656,500 worth of shares (25,000 units at $66.26), increasing direct ownership by 3% to 827,377 units (SEC Form 4)

    4 - SCHWAB CHARLES CORP (0000316709) (Issuer)

    7/19/24 5:23:54 PM ET
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    President Wurster Richard A bought $620,454 worth of shares (10,000 units at $62.05), increasing direct ownership by 7% to 144,228 units (SEC Form 4)

    4 - SCHWAB CHARLES CORP (0000316709) (Issuer)

    7/19/24 5:19:55 PM ET
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    Charles Schwab Unveils National Investing Day to Educate and Empower Individual Investors

    Charles Schwab today announced the launch of the inaugural National Investing Day, an investor education and empowerment initiative encouraging people to dedicate at least one day in the year to explore how they can get invested and stay invested for a strong financial future. Taking place each year on May 1, National Investing Day aims to raise awareness about the power of long-term investing, providing accessible tools and resources for individuals at every stage of their financial journey. "At Schwab we believe that investing is a purposeful act of optimism," said Rick Wurster, president and chief executive officer at Charles Schwab. "Our goal in launching National Investing Day is to

    5/1/25 5:00:00 AM ET
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    Charles Schwab Extends Partnership With National Youth Development Organization 4-H

    New grant aims to continue bringing financial empowerment resources and education to young people across the country Charles Schwab is extending its long-standing partnership with National 4-H Council (4-H), America's largest youth development organization that reaches nearly six million young people each year. Originally launched in 2019, the partnership has already made significant strides empowering thousands of youth across the country with essential financial literacy skills through Smart Cents, a research-backed financial literacy program for youth ages 8-18 delivered through local teachers and educators. This new grant will build upon the existing grant work of both organizations b

    4/21/25 8:00:00 AM ET
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    Walt Bettinger to Retire as CEO

    Will Continue Serving as Executive Co-Chairman of the Board of Directors Rick Wurster Named CEO to Succeed Bettinger The Charles Schwab Corporation today announced, as part of its multi-year succession plan, that Walt Bettinger has notified the Board of Directors of his intention to retire as Chief Executive Officer effective December 31, 2024. Rick Wurster, President of Schwab since 2021, will be named President and CEO and will join the Schwab Board of Directors, effective January 1, 2025. Bettinger will continue to serve as Executive Co-Chairman of the Board of Directors, along with founder Charles R. Schwab. Bettinger has successfully led Schwab as CEO since late 2008. Some of the ma

    10/1/24 8:00:00 AM ET
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    Schwab Authorizes $20 Billion Stock Repurchase, Declares Common Stock Dividend, and Declares Preferred Stock Dividends

    The Board of Directors of The Charles Schwab Corporation at its meeting today authorized additional repurchases of the company's common stock and declared a regular quarterly cash dividend of $0.27 per common share. The dividend is payable August 22, 2025 to stockholders of record as of the close of business on August 8, 2025. As of June 30, 2025 the Share Repurchase Program had approximately $6.9 billion of share repurchases remaining under a prior authorization. The Board's decision today has replaced this authorization with approval to repurchase a total of $20 billion of its common stock. Shares may be repurchased through open market or privately negotiated transactions based on preva

    7/24/25 4:35:00 PM ET
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    25% Revenue Growth Powers Record 2Q25 Results

    Second Quarter Core Net New Assets Equal $80.3 Billion, Up 31% Year-Over-Year New Accounts Exceed 1 Million and Total Client Assets Reach a Record $10.76 Trillion Record Quarterly GAAP Earnings Per Share of $1.08, $1.14 Adjusted (1) The Charles Schwab Corporation reported net income for the second quarter totaling $2.1 billion, or $1.08 earnings per share. Excluding $128 million of pre-tax transaction-related costs, adjusted (1) net income and earnings per share equaled $2.2 billion and $1.14, respectively. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250718660688/en/ Client Driven Growth   31% 2Q25

    7/18/25 7:30:00 AM ET
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    Schwab Announces Redemption of All Outstanding Depositary Shares Representing Interests in Its 5.375% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series G

    The Charles Schwab Corporation ("CSC") today announced that, on June 1, 2025, it will redeem all of the 24,580 outstanding shares of its 5.375% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series G ("Series G Preferred Stock", CUSIP 808513BD6), and the corresponding 2,457,964 depositary shares ("Depositary Shares"), each representing a 1/100th interest in a share of the Series G Preferred Stock. The Depositary Shares will be redeemed at a redemption price of $1,000 per Depositary Share. The redemption price does not include the regular quarterly dividend that was declared and will be paid separately in the customary manner on June 2, 2025 to holders of record at the close of

    5/13/25 4:31:00 PM ET
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    Large Ownership Changes

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    SEC Form SC 13G filed by Charles Schwab Corporation

    SC 13G - SCHWAB CHARLES CORP (0000316709) (Subject)

    11/13/24 1:18:52 PM ET
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    SEC Form SC 13G/A filed by Charles Schwab Corporation (Amendment)

    SC 13G/A - SCHWAB CHARLES CORP (0000316709) (Subject)

    2/13/24 5:01:02 PM ET
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    SEC Form SC 13D/A filed by Charles Schwab Corporation (Amendment)

    SC 13D/A - SCHWAB CHARLES CORP (0000316709) (Subject)

    2/24/23 9:56:00 PM ET
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