Schwab Charles Corp

1. 1

   Election of Directors

   ManagementBoard: FOR

   Vote to elect four director nominees (Marianne C. Brown, Frank C. Herringer, Richard A. Wurster, and Carolyn Schwab-Pomerantz) each to a three-year term.

2. 2

   Ratification of the Selection of Independent Auditors

   ManagementBoard: FOR

   Vote to ratify the Audit Committee’s selection of Deloitte & Touche LLP as the company’s independent registered public accounting firm for the 2026 fiscal year.

3. 3

   Advisory Approval of Named Executive Officer Compensation

   ManagementBoard: FOR

   Non-binding, advisory vote to approve the compensation paid to the company’s named executive officers as disclosed in the proxy statement (say-on-pay).

   More detail

   This management proposal seeks a non-binding, advisory approval of the company’s disclosed named executive officer (NEO) compensation. Management asks shareholders to endorse the Compensation Discussion and Analysis and accompanying tables and narrative, arguing that the program ties pay to performance through a mix of base salary, annual cash incentives (CEBP tied to adjusted diluted EPS), and long-term incentives (60% PBRSUs and 40% stock options). The Compensation Committee set performance metrics and targets (e.g., adjusted diluted EPS for annual incentives and ROTCE relative to Cost of Equity for multi-year PBRSUs) and certified payouts (116.5% funding of annual incentives for 2025 and 100% payout for the 2023 PBRSUs) after reviewing results and risk considerations. Management frames the program as designed to attract and retain executive talent while aligning executives’ interests with long-term stockholder value and incorporating risk-mitigation features (vesting schedules, caps, clawback policies, and oversight by independent directors and a consultant). The vote is advisory and non-binding, but the Compensation Committee states it will consider the outcome when evaluating executive compensation. Key context includes strong 2025 financial results (adjusted diluted EPS $4.87, ROTCE 38%) and prior say-on-pay support (~85% in 2025), which management cites as validation of the program’s overall approach. For investors evaluating governance trade-offs, the proposal raises issues about pay-for-performance alignment, the rigor and calibration of performance metrics and adjustments, and the degree to which discretion is applied in certification and adjustments. Given the detailed disclosure of targets, funding, committee processes, and risk controls, a sophisticated reviewer should assess the robustness of metric selection (EPS and ROTCE/COE), the use and scope of adjustments/exclusions, and potential incentive misalignments created by benefit features (e.g., severance, recoupment scope). Overall, management’s reasoning emphasizes alignment and retention amid a record year, while noting the non-binding nature of the vote and the committee’s responsiveness to stockholder feedback.

4. 4

   Amendments to the Certificate of Incorporation and Bylaws to Declassify the Board

   ManagementBoard: FOR

   Vote to approve amendments to the Certificate of Incorporation and Bylaws to phase out the board’s classified (staggered) structure over a three-year period and provide for annual election of all directors beginning in 2029; post-declassification directors may be removed with or without cause.

   More detail

   Management proposes to amend the Certificate of Incorporation and Bylaws to phase out the board’s three-class, staggered structure over a three-year period and transition to annual director elections beginning in 2029. The board frames the proposal as a governance modernization: it recognizes that declassification can increase director accountability by enabling shareholders to vote on the entire board annually, aligning with governance norms among large financial institutions and institutional investor preferences, while also weighing the traditional benefits of staggered terms—continuity, stability, and potential negotiation leverage in control situations. The proposed implementation is a phased transition (special two‑ and one‑year terms for directors elected in 2027 and 2028 respectively) to avoid abrupt turnover and preserve institutional knowledge. The amendments also change removal standards: under the proposals, after full declassification in 2029 directors could be removed with or without cause (subject to the Certificate and Bylaws), replacing the current only-for-cause removal under a classified board. The board recommends the change after considering a stockholder proposal and governance trends, and it emphasizes a balance between enhanced accountability and an orderly transition. From a governance risk/reward standpoint, investors should evaluate whether the phased schedule adequately preserves continuity and whether the change meaningfully enhances accountability in practice given other governance protections and board composition. The required approval threshold (an 80% vote of outstanding common stock) is unusually high, so the strategic calculus includes consideration of whether management can marshal sufficient shareholder support and how large holders view declassification. Overall, the amendment is a material governance change that narrows the hurdle for shareholder influence over board composition over time, and sophisticated analysis should consider the board’s rationale, transition mechanics, potential effects on activism or control transactions, and interplay with other charter/bylaw provisions.

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When is the Schwab Charles Corp 2026 annual meeting?

Schwab Charles Corp (SCHW) holds its 2026 annual shareholder meeting on Thursday, May 21, 2026.

What is the record date for the Schwab Charles Corp 2026 meeting?

The record date for the Schwab Charles Corp 2026 meeting is Monday, March 23, 2026. Shareholders of record on or before that date are eligible to vote.

Who are the director nominees for Schwab Charles Corp's 2026 meeting?

The board is presenting 4 director nominees at the Schwab Charles Corp 2026 meeting, listed with their independence status and background.

What proposals will shareholders vote on at the Schwab Charles Corp 2026 meeting?

Shareholders will vote on 4 proposals at the Schwab Charles Corp 2026 meeting, each tagged with who proposed it and the board's recommendation.