---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-023158"
form_type: "8-K"
ticker: "SCHW"
cik: "0000316709"
company_name: "SCHWAB CHARLES CORP"
filed_at: "2025-02-10T23:59:59+00:00"
generated_at: "2026-05-27T00:34:57.451589+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Schwab launches secondary offering as TD exits 10.1% stake; $1.5B repurchase planned

## Summary
- TD Group US Holdings LLC offers 184.7M shares (10.1% economic stake) in public secondary offering.
- Schwab agrees to repurchase $1.5B of nonvoting common stock from TD at public offering price less discount.
- Pro forma Tier 1 Leverage Ratio estimated at 9.5% (from 9.9%); Adjusted Tier 1 Leverage at 6.5% (from 6.8%).
- January preliminary metrics: core net new assets ~$30B (+75% YoY); 430k new accounts; 7.3M daily trades.
- Client sweep cash ~$400B; bank supplemental funding reduced ~$4B to ~$46B outstanding.

## SEC filing metadata
- accession: 0001193125-25-023158
- form_type: 8-K
- ticker: SCHW
- cik: 0000316709
- company_name: SCHWAB CHARLES CORP
- filed_at: 2025-02-10T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/316709/000119312525023158/0001193125-25-023158-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/316709/000119312525023158/d875109d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-023158
- JSON: https://secwatch.observer/filing/0001193125-25-023158.json
- Plain text: https://secwatch.observer/filing/0001193125-25-023158.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.