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    Walter W. Bettinger II

    Co-Chairman of the Board, CEO at Charles Schwab Corp
    Board
    Since 2008
    Age
    64 years
    Tenure
    Joined SCHW in 1995 through the acquisition of a company he founded in 1983, and has held multiple leadership roles including Executive Vice President, President, Chief Operating Officer, Chief Executive Officer since 2008, and Co-Chairman of the Board since 2022.

    Also at Charles Schwab Corp

    JMC
    Jonathan M. Craig
    Managing Director, Head of Investor Services and Marketing
    MV
    Michael Verdeschi
    Managing Director, CFO
    NJM
    Nigel J. Murtagh
    Managing Director, Chief Risk Officer

    About

    Walter W. Bettinger II was born in 1960 and is currently 64 years old as of December 31, 2024. He began his entrepreneurial journey by founding a retirement plan services company in 1983, which later became the catalyst for his entry into Schwab in 1995 through an acquisition.

    Over the course of his nearly 30-year tenure at Schwab, he has progressed through several key roles. Starting with his appointment as an executive in various capacities, his career advanced from positions such as Executive Vice President and President of multiple divisions, to serving as Chief Operating Officer between 2007 and 2008, and ultimately being named Chief Executive Officer in 2008.

    In addition to his role as CEO, he assumed the position of Co-Chairman of the Board in 2022, reinforcing his long-standing commitment and leadership within the organization. His broad responsibilities have included strategic oversight, enhancing operational performance, and serving as a trustee for various Schwab-affiliated investment funds, underscoring his extensive influence in shaping the firm’s direction and success.

    $SCHW Performance Under Walter W. Bettinger II

    Past Roles

    OrganizationRoleDate RangeDetails
    The Charles Schwab Corporation President 2008–2021 Ended upon promotion to Co-Chairman/CEO
    The Charles Schwab Corporation Chief Operating Officer 2007–2008 Held prior to the presidency
    The Charles Schwab Corporation Executive Vice President and President – Schwab Investor Services 2005–2007
    The Charles Schwab Corporation Executive Vice President and Chief Operating Officer – Individual Investor Enterprise 2004–2005
    The Charles Schwab Corporation Executive Vice President and President – Corporate Services 2002–2004
    The Charles Schwab Corporation Executive Vice President and President – Retirement Plan Services 2000–2002
    The Hampton Company Founder & Leader 1983–1995 Company was acquired by Schwab in 1995

    External Roles

    OrganizationRoleDate RangeDetails
    The Charles Schwab Family of Funds Trustee Current Registered investment company affiliated with SCHW
    Schwab Investments Trustee Current Registered investment company affiliated with SCHW
    Schwab Capital Trust Trustee Current Registered investment company affiliated with SCHW
    Schwab Annuity Portfolios Trustee Current Registered investment company affiliated with SCHW
    Laudus Trust Trustee Current Registered investment company affiliated with SCHW
    Schwab Strategic Trust Trustee Current Registered investment company affiliated with SCHW

    Fixed Compensation

    Data from  FY 2023
    Component NameAmountPayment ScheduleAdditional Details
    Base Salary$1,500,000 AnnualEffective as of February 27, 2023; no increase from previous year
    All Other Compensation$17,710 AnnualIncludes various forms of other compensation

    Performance Compensation

    Data from  FY 2023

    Annual Cash Incentive

    MetricDetails
    Performance MetricAdjusted diluted EPS
    Threshold50% of target adjusted diluted EPS goal
    Target100% of target adjusted diluted EPS goal
    Maximum (Cap)200% of target adjusted diluted EPS goal
    Actual Adjusted Diluted EPS$3.13
    Funding Level72.96%
    Target Annual Cash Incentive %375% of Base Salary
    Target Annual Cash Incentive$5,625,000
    Actual Annual Cash Incentive$4,104,000

    Performance-Based Restricted Stock Units (PBRSUs)

    MetricDetails
    Performance MetricROTCE (excluding AOCI) divided by Cost of Equity
    Performance PeriodJanuary 1, 2023 – December 31, 2025
    Payout Range0% to 200% of target award
    Condition (Threshold)< 100% ROTCE/COE results in 0% payout
    Intermediate Payout100%-199.9% results deliver 50%-100% payout
    Fixed Payout Level200%-600% yields 100% payout
    Enhanced Payout>600% up to 800% yields 100%-200% payout
    Full Payout>800% yields 200% payout
    Grant DateMarch 1, 2023
    Grant Date Fair Value$10,950,000
    Grant Date Stock Price$77.41
    Vesting Schedule100% vesting on the third anniversary (March 1, 2026)

    Stock Options

    MetricDetails
    Grant DateMarch 1, 2023
    Grant Date Fair Value$7,300,000
    Grant Date Stock Price$77.41 per share
    Vesting ScheduleFour equal annual installments starting on March 1, 2024
    Expiration DateMarch 1, 2033
    Performance MetricTime-based; not tied to performance outcomes
    Proportion of Total LTI Award40% of a total LTI award of $18,250,000