The cluster is too small relative to market cap to be actionable. Monitor for any material increase in selling volume or a C-suite cluster exceeding 0.1% of market cap. Schwab's next quarterly earnings will be the primary catalyst — insider selling at this scale does not pre-empt it.
Price Chart
Executive Summary
Four Schwab insiders, including Co-Chairman Charles Schwab and General Counsel Peter Morgan, sold a total of ~$5.97M in shares over a 7-day window. While the dollar amount is trivial relative to Schwab's $181B market cap (~0.003%), the cluster includes the company's co-founder and top legal officer, which warrants attention. The sales appear to be open-market transactions with no disclosed 10b5-1 plan, but the absolute size is too small to signal material negative information about the company's outlook.
Key Financial Metrics
Key Facts
- Four insiders sold shares totaling ~$5.97M over 7 days
- Co-Chairman Charles Schwab sold $4.63M (45,500 shares) — the largest trade in the cluster
- General Counsel Peter Morgan sold $709K (6,952 shares)
- Chief Risk Officer Nigel Murtagh sold $422K (4,100 shares)
- MD Jonathan Beatty sold $208K (2,000 shares)
- Total sales represent ~0.003% of Schwab's $181B market cap — well below the 0.1% materiality threshold
- No 10b5-1 plan disclosed for these trades
- Recent 30-day insider activity shows 6 sells totaling $8.4M, consistent with routine diversification
Financial Impact
Total insider sales of $5.97M represent ~0.003% of market cap — immaterial
Risk Factors
- Insider selling could accelerate if the stock continues its recent rally
- No 10b5-1 plan disclosed — sales are discretionary, but the small size limits bearish read-through
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-SCHW-1785283439069 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 15, 2026 11d ago | 8-K | $91.96 | awaiting T+20 | — | $89.30 (−2.89%) |
Oct 12, 2026 15d ago | ANALYST-UPGRADE | $97.06 | awaiting T+20 | — | $89.30 (−8.00%) |
Oct 2, 2026 25d ago | ANALYST-UPGRADE | $96.70 | awaiting T+20 | — | $89.30 (−7.65%) |
Sep 2, 2026 7w ago | Insider Cluster | $110.38 $96.70 | ▼ −12.39% | ▼ −11.21% | $89.30 (−19.10%) |
Aug 31, 2026 8w ago | Insider Cluster | $108.28 $97.74 | ▼ −9.73% | ▼ −10.05% | $89.30 (−17.53%) |
Aug 31, 2026 8w ago | Insider Cluster | $108.28 $97.74 | ▼ −9.73% | ▼ −10.05% | $89.30 (−17.53%) |
Aug 27, 2026 8w ago | Insider Cluster | $110.16 $98.30 | ▼ −10.77% | ▼ −11.03% | $89.30 (−18.94%) |
Aug 27, 2026 8w ago | Insider Cluster | $110.16 $98.30 | ▼ −10.77% | ▼ −11.03% | $89.30 (−18.94%) |
Aug 26, 2026 8w ago | Insider Cluster | $108.05 $99.49 | ▼ −7.92% | ▼ −7.41% | $89.30 (−17.35%) |
Aug 18, 2026 9w ago | Insider Cluster | $110.88 $107.79 | ▼ −2.79% | ▼ −1.27% | $89.30 (−19.46%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Create a free account Live analysis, Telegram alerts, watchlists and the MCP server for subscribers