Raymond James (RJF) director gets 1,303 deferred stock units with 5-year delay

Rhea-AI Filing Summary

Raymond James Financial director Raj Seshadri received an equity grant tied to board service. The filing reports an award of 1,303 Deferred Restricted Stock Units (DRSUs), which vest at the next annual shareholders meeting (but no later than March 15 of the following year). Upon vesting, each DRSU converts into one share of common stock, with additional cash in lieu of dividends, and settlement is deferred until the fifth anniversary of the vest date. Following this grant, Seshadri holds 13,782 common shares, including DRSUs.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Seshadri Raj

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	1,303	$0.00	--

Holdings After Transaction: Common Stock — 13,782 shares (Direct)

Footnotes (1)

1. Consists of a grant of Deferred Restricted Stock Units ("DRSUs") as part of compensation for service on the registrant's Board of Directors. Upon vesting, the DRSUs convert to the right to receive shares of common stock on a one-to-one basis, together with accrued cash in lieu of dividends. The DRSUs vest at the date of the next succeeding annual shareholders meeting following the grant date, but no later than March 15 of the calendar year following grant. Pursuant to an irrevocable election by the reporting person, settlement of the DRSUs will be deferred following vesting until the fifth anniversary of the vest date. Includes DRSUs.

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

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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).

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^*

Seshadri Raj

(Last) (First) (Middle)

880 CARILLON PARKWAY

(Street)

ST. PETERSBURG FL 33716

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
RAYMOND JAMES FINANCIAL INC [ RJF ]

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)
02/19/2026

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	02/19/2026		A		1,303(1)	A	$0.0000	13,782(2)	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

Explanation of Responses:

1. Consists of a grant of Deferred Restricted Stock Units ("DRSUs") as part of compensation for service on the registrant's Board of Directors. Upon vesting, the DRSUs convert to the right to receive shares of common stock on a one-to-one basis, together with accrued cash in lieu of dividends. The DRSUs vest at the date of the next succeeding annual shareholders meeting following the grant date, but no later than March 15 of the calendar year following grant. Pursuant to an irrevocable election by the reporting person, settlement of the DRSUs will be deferred following vesting until the fifth anniversary of the vest date.

2. Includes DRSUs.

Remarks:

This Form 4 reports the acquisition by the reporting person of DRSUs resulting from an annual grant to the registrant's non-executive directors.

	/s/ Raj Seshadri by Jonathan J. Doyle as Attorney-in-Fact	02/23/2026
	** 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 RJF director Raj Seshadri report on this Form 4?

Raj Seshadri reported receiving 1,303 Deferred Restricted Stock Units as part of compensation for serving on Raymond James Financial’s board. These units are a form of equity award that convert into common stock on a one-to-one basis after vesting and deferred settlement.

How many Raymond James Financial shares does Raj Seshadri hold after this award?

After the reported award, Raj Seshadri holds 13,782 shares of Raymond James Financial common stock, including Deferred Restricted Stock Units. This total reflects the impact of the newly granted 1,303 units reported in the Form 4 as part of her director compensation package.

What are DRSUs in the context of Raymond James Financial (RJF) director compensation?

Deferred Restricted Stock Units, or DRSUs, are equity awards that convert into common shares on a one-for-one basis when they vest. For RJF directors, they are granted as compensation, accrue cash in lieu of dividends, and settle into shares on a deferred schedule specified by the director.

When do the DRSUs granted to RJF director Raj Seshadri vest and settle?

The DRSUs vest at the date of the next annual shareholders meeting following the grant, but no later than March 15 of the following calendar year. Settlement into common shares is then deferred until the fifth anniversary of the vesting date, based on Seshadri’s irrevocable election.

Did Raj Seshadri pay cash for the 1,303 RJF DRSUs reported on Form 4?

The reported transaction shows a price per unit of 0.0000, indicating this was a grant as part of board compensation rather than a cash purchase. It is categorized as a grant or award acquisition of Deferred Restricted Stock Units, not an open-market stock buy.