Company: SFB
Filing Date: 2025-06-25
Form Type: 11-K
Source: 0000950170-25-089944
Chunk: 5

Company: STIFEL FINANCIAL CORP
Filing Date: 2025-06-25
Form: 11-K
Chunk 5
---
 2024, assets of $4.0 million from the Sierra Pacific Securities, LLC 401(k) Plan were merged into the Plan and are included in Transferred from acquired company plan in the statement of changes in net assets available for benefits.

Participant and Employer Contribution Receivables

The participant and employer contribution receivables are related to contributions from compensation paid prior to year-end, but where contributions have not yet been deposited in the Plan.

<div align='center'>4

Stifel Financial Profit Sharing 401(k) Plan

Notes to Financial Statements

December 31, 2024 and 2023</div>

Participant Investment Account Options

Participants direct the investment of their contributions and the Company’s matching contributions into various investment account options offered by the Plan. The Plan currently offers investments in common stock of the Company, various pooled separate accounts, mutual funds, a guaranteed account, and self-directed brokerage accounts. There were certain non-marketable securities held in self-directed brokerage accounts at December 31, 2024 and 2023.

Participant Accounts

Each participant's account is credited with the participant's and the Company's contributions and allocations of plan earnings and is charged with an allocation of administrative expenses. Allocations are based on participant earnings or account balances, as defined. All amounts in participant accounts are participant directed.

Vesting

All elective contributions made by participants and earnings on those contributions are 100% vested. Vesting in the Company's contributions plus earnings thereon is based on years of service. A participant is fully vested after three years of service. Participants forfeit the nonvested portion of their accounts in the Plan upon termination of employment with the Company. Under provisions of the Plan, forfeited balances of terminated participants’ nonvested accounts may be used at the Company’s discretion to reduce its matching contribution obligations and then, to the extent any forfeitures remain, reallocated to participants’ accounts. During the year ended December 31, 2024, the Company used $0.7 million of forfeited balances to reduce its matching contribution obligations. The amounts of unallocated forfeitures as of December 31, 2024 and 2023 were $1.1 million and $0.7 million, respectively.

Payment of Benefits

The plan allows for lump-sum and partial distributions of the vested value of a participant's account, net of any outstanding loan balance, at death, retirement, or upon termination of employment. Upon death, a participant's account is paid to the designated beneficiary.

Notes Receivable