Jefferies (JEF) president discloses 187,121-share tax withholding, holdings

Rhea-AI Filing Summary

Jefferies Financial Group Inc. reported an insider transaction by a director and President involving tax-related share withholding. On 12/16/2025, 187,121 shares of common stock were disposed of at $61.16 per share under transaction code F, which the notes explain reflects shares withheld to cover tax liabilities from the distribution of long-term equity grants.

After this transaction, the reporting person beneficially owns 2,556,957 common shares directly. In addition, they report indirect ownership of 1,163,898 shares through trusts, 496,780 shares through a family limited partnership, and 45,304 shares as trustee of a profit sharing plan, while disclaiming beneficial ownership of the partnership-held shares beyond their pecuniary interest.

Insider Trade Summary

4 transactions reported

Mixed 4 txns

Insider FRIEDMAN BRIAN P

Role President

Type	Security	Shares	Price	Value
Tax Withholding	Common Stock	187,121	$61.16	$11.44M
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 2,556,957 shares (Direct); Common Stock — 1,163,898 shares (Indirect, By Reporting Person's Trusts)

Footnotes (1)

1. Shares withheld to pay tax liability resulting from the distribution of long-term equity grants. The Reporting Person disclaims beneficial ownership of the portion of shares held by the limited partnership in excess of his proportionate pecuniary interest in those shares.

Form 4 Insider Transactions: What Each Field Means →

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

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

FRIEDMAN BRIAN P

(Last) (First) (Middle)

C/O JEFFERIES

520 MADISON AVE.

(Street)

NEW YORK NY 10022

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Jefferies Financial Group Inc. [ JEF ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	President

3. Date of Earliest Transaction (Month/Day/Year)
12/16/2025

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	12/16/2025		F(1)		187,121	D	$61.16	2,556,957	D
Common Stock								1,163,898	I	By Reporting Person's Trusts
Common Stock								496,780	I	By Family Limited Partnership(2)
Common Stock								45,304	I	By Trustee of Profit Sharing Plan

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

Explanation of Responses:

1. Shares withheld to pay tax liability resulting from the distribution of long-term equity grants.

2. The Reporting Person disclaims beneficial ownership of the portion of shares held by the limited partnership in excess of his proportionate pecuniary interest in those shares.

Remarks:

	/s/ Joanna Jia, by power of attorney	12/18/2025
	** 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.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What insider transaction did Jefferies (JEF) report in this Form 4?

The filing reports that a Jefferies director and President had 187,121 shares of common stock withheld on 12/16/2025 to satisfy tax obligations related to long-term equity grants.

At what price were the Jefferies (JEF) shares withheld for taxes?

The 187,121 Jefferies common shares were disposed of at a price of $61.16 per share, according to the transaction table.

How many Jefferies (JEF) shares does the insider own directly after the transaction?

Following the reported transaction, the insider beneficially owns 2,556,957 Jefferies common shares in direct ownership.

What indirect holdings in Jefferies (JEF) does the reporting person disclose?

The reporting person discloses indirect ownership of 1,163,898 shares through trusts, 496,780 shares via a family limited partnership, and 45,304 shares as trustee of a profit sharing plan.

What does transaction code F mean in the Jefferies (JEF) Form 4?

The notes state that the transaction coded F reflects shares withheld to pay tax liability resulting from the distribution of long-term equity grants, rather than an open-market sale.

Does the Jefferies (JEF) insider claim full beneficial ownership of all indirectly held shares?

No. The filing states that the reporting person disclaims beneficial ownership of the portion of shares held by the family limited partnership that exceeds their proportionate pecuniary interest.