Insider Trading February 2, 2026

Stifel Financial President Sells Small Stake, Exercises Options in Separate Transactions

James M. Zemlyak recorded a modest open-market sale and an option exercise with a tax-related disposition reported on a Form 4 filing

By Ajmal Hussain SF
Stifel Financial President Sells Small Stake, Exercises Options in Separate Transactions
SF

James M. Zemlyak, president of Stifel Financial CORP (NYSE:SF), sold nine shares on January 29, 2026, and the following day filed a Form 4 disclosing the exercise of options for 5,644 shares and the sale of 2,487 shares to satisfy tax obligations. Stifel also reported fourth-quarter 2025 results that beat consensus for both EPS and revenue, while the stock registered only a slight pre-market uptick.

Key Points

  • James M. Zemlyak sold 9 shares on January 29, 2026, at $123.90 for $1,115 total.
  • On January 30, 2026, Zemlyak exercised options for 5,644 shares at $0 and sold 2,487 shares at $126.24 to cover tax obligations, generating $313,958.
  • Stifel Financial’s Q4 2025 results beat estimates - EPS $2.63 vs $2.51 and revenue $1.56 billion vs $1.5 billion - while the stock recorded only a modest pre-market rise and no analyst rating changes were reported.

Insider transactions

James M. Zemlyak, President of Stifel Financial CORP (NYSE:SF), reported an open-market sale of nine shares of common stock on January 29, 2026. The sale price was $123.90 per share, producing gross proceeds of $1,115.

Form 4 filing and option exercise

According to a Form 4 filed with the Securities and Exchange Commission on January 30, 2026, Zemlyak exercised options to acquire 5,644 shares of Stifel Financial common stock at an exercise price of $0. On that same day he disposed of 2,487 shares to cover tax obligations. Those 2,487 shares were sold at $126.24 per share for total proceeds of $313,958, as reported in the filing.

Quarterly results

Separately, Stifel Financial Corporation reported fourth-quarter 2025 financial results that exceeded expectations. The company recorded earnings per share of $2.63 versus the consensus estimate of $2.51. Revenue for the quarter reached $1.56 billion, outpacing an anticipated $1.5 billion. The reported figures underscore the company’s stronger-than-expected performance for the period.

Market reaction and analyst commentary

Despite the beat on both earnings and revenue, the stock experienced only a minor pre-market increase following the release. The filing notes that analyst firms have not issued public commentary on upgrades or downgrades tied to these results.

Investor context

Investors considering their positions may weigh the insider transactions and the quarter’s financial results as part of their assessment. The Form 4 filing documents the specific transactions by Zemlyak and provides the concrete figures for those trades and option activity, while the earnings release supplies the reported operating metrics for the latest quarter.


Summary

James M. Zemlyak sold nine shares on January 29, 2026, and on January 30, 2026, exercised options for 5,644 shares and sold 2,487 shares to cover taxes. Stifel’s Q4 2025 EPS and revenue topped expectations, yet the stock saw only a small pre-market gain and analysts have not publicly updated ratings.

Risks

  • The article notes limited market reaction to the earnings beat, indicating uncertainty in immediate stock momentum - impacts the financials and capital markets sectors.
  • Analyst firms have not provided commentary on upgrades or downgrades following results, leaving investors without fresh third-party guidance - impacts investor decision-making in equity markets.
  • The Form 4 shows an insider sale to cover tax obligations, which is a routine administrative disposition but could be interpreted variably by market participants - impacts perceptions in the financial services sector.

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