Company: SFB
Filing Date: 2025-06-25
Form Type: 11-K
Source: 0000950170-25-089944
Chunk: 6

Company: STIFEL FINANCIAL CORP
Filing Date: 2025-06-25
Form: 11-K
Chunk 6
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 from Participants

Participants may borrow from their fund accounts a minimum of $1,000 and up to a maximum of $50,000, or 50% of their vested account balance, whichever is less. Generally, loan terms may not exceed five years unless the loan is used to purchase a participant’s principal residence, in which case repayment terms may not exceed ten years. The loans are secured by the balance in the participant’s account and bear interest at a rate commensurate with local prevailing lending rates determined by the Investment Committee. Principal and interest is paid ratably through payroll deductions.

Participant loans are classified as notes receivable from participants in the statements of net assets available for benefits and are measured at their unpaid principal balance plus any accrued but unpaid interest.

Plan Termination

Although it has not expressed an intention to do so, the Company has the right, under provisions of the Plan, to discontinue its contributions at any time and to terminate the Plan, subject to the provisions of ERISA. In the event of Plan termination, participants will become 100% vested in their accounts.

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Stifel Financial Profit Sharing 401(k) Plan

Notes to Financial Statements

December 31, 2024 and 2023</div>

Nonexempt Transactions

Defined contribution plans are required to remit employee contributions to the Plan as soon as they can be reasonably segregated from the employer’s general assets, but no later than the 15th business day of the month following the month in which the participant contributions are withheld by the employer. As disclosed in the accompanying Schedule of Delinquent Participant Contributions, certain employee deferrals were not remitted to the Plan within the timeframe required by the Department of Labor during the years ended December 31, 2024 and 2023.

As disclosed in the accompanying Schedule of Nonexempt Transactions, the Plan improperly paid expenses totaling approximately $1.0 million to Empower Annuity Insurance Company, a subsidiary of the Trustee, for record keeping services during the years ended December 31, 2022, 2021, and 2020. Excess fees and related earnings were corrected and remitted to the Plan by the Company in 2025.

NOTE 2– Summary of Significant Accounting Policies

Basis of Presentation

The accompanying financial statements are prepared on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States.

Use of Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the