SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
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 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person*
BAER ROBERT J
(Last) (First) (Middle)
9101 FOX BRIDGE DRIVE
(Street)
ST LOUIS MO 63127
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
STIFEL FINANCIAL CORP [ SF ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director 10% Owner
Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
04/01/2004
4. If Amendment, Date of Original Filed (Month/Day/Year)
 6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 2,200 D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Phantom Stock Units $0 04/01/2004 A 157 04/01/2004 (1) Common Stock 157 $0 157 D
Phantom Stock Units $0 04/01/2004 A 39 04/01/2004 (1) Common Stock 39 $0 196 D
Phantom Stock Units $0 04/01/2004 A 105 04/01/2004 (1) Common Stock 105 $0 301 D
Phantom Stock Units $0 04/01/2004 A 26 04/01/2004 (1) Common Stock 26 $0 327 D
Phantom Stock Units $0 05/01/2002 05/01/2012 Common Stock 117 117 D
Phantom Stock Units $0 05/09/2002 05/09/2012 Common Stock 69 69 D
Phantom Stock Units $0 06/01/2002 06/01/2012 Common Stock 115 115 D
Phantom Stock Units $0 07/01/2002 07/01/2012 Common Stock 124 124 D
Phantom Stock Units $0 08/01/2002 08/01/2012 Common Stock 129 129 D
Phantom Stock Units $0 09/03/2002 09/03/2012 Common Stock 121 121 D
Phantom Stock Units $0 10/01/2002 10/01/2012 Common Stock 124 124 D
Phantom Stock Units $0 10/28/2002 10/28/2012 Common Stock 82 82 D
Phantom Stock Units $0 11/01/2002 11/01/2012 Common Stock 130 130 D
Phantom Stock Units $0 12/02/2002 12/02/2012 Common Stock 133 133 D
Phantom Stock Units $0 01/02/2003 01/02/2013 Common Stock 142 142 D
Phantom Stock Units $0 01/30/2003 01/30/2013 Common Stock 86 86 D
Phantom Stock Units $0 02/03/2003 02/03/2013 Common Stock 133 133 D
Phantom Stock Units $0 03/03/2003 03/03/2013 Common Stock 131 131 D
Phantom Stock Units $0 04/01/2003 04/01/2013 Common Stock 134 134 D
Phantom Stock Units $0 05/01/2003 05/01/2013 Common Stock 129 129 D
Phantom Stock Units $0 05/12/2003 05/12/2013 Common Stock 80 80 D
Phantom Stock Units $0 06/01/2003 06/01/2013 Common Stock 125 125 D
Phantom Stock Units $0 07/01/2003 07/01/2013 Common Stock 126 126 D
Phantom Stock Units $0 08/01/2003 08/01/2013 Common Stock 128 128 D
Phantom Stock Units $0 08/06/2003 08/06/2013 Common Stock 255 255 D
Phantom Stock Units $0 09/01/2003 09/01/2013 Common Stock 121 121 D
Phantom Stock Units $0 10/01/2003 10/01/2013 Common Stock 588 588 D
Phantom Stock Units $0 01/01/2004 01/01/2014 Common Stock 422 422 D
Stock Option (Option to Buy) $11.6 (2) 01/30/2013 Common Stock 1,000 1,000 D
Stock Option (Option to Buy) $14.55 (3) 05/09/2012 Common Stock 3,800 3,800 D
Explanation of Responses:
1. No expiration date for these Units.
2. Options vest in 20% increments on 1/3/04, 1/3/05, 1/3/06, 1/3/07 and 1/3/08.
3. Stock Options vest in 20% increments on 5/9/03, 5/9/04, 5/9/05, 5/9/06 and 5/9/07.
By: Forrest M. Smith For: Robert J. Baer 04/02/2004
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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