It was reported on May 23 that according to documents disclosed by the US Securities and Exchange Commission (SEC) on May 22,$Charles Schwab (SCHW.US)$Director Schwab-Pomerantz Carolyn sold 9,000 common shares worth approximately $705,700 at an average price of $78.4141 per share on May 20.
Image source: SEC's official website
What is a statement of change in shareholding?
The SEC requires insiders in listed companies to publicly disclose their securities transactions and shareholding. When an insider's shareholding changes, depending on the circumstances, a shareholding change statement must be submitted to the SEC within a certain period of time after the transaction ends.
Insiders include the company's directors and executives, and any shareholder holding 10% or more of the company's tradable shares.