Raymond James Financial (NYSE: RJF) CEO details RSU awards and share gift

Rhea-AI Filing Summary

Raymond James Financial CEO and director Paul M. Shoukry reported multiple stock and restricted stock unit (RSU) transactions dated December 15, 2025. Several tranches of previously granted RSUs converted into common stock in amounts of 5,441, 5,440 and 3,264 shares, each at a stated transaction price of $0, reflecting vesting of equity awards.

To cover related tax liability, he disposed of 1,284, 2,140, 2,142 and 2,771 shares of common stock at $163.85 per share. He also reported a gift of 8,704 shares of common stock at a stated price of $0.0000. In addition, he received a new award of 19,530 RSUs as a portion of his annual bonus, tied to common stock with an exercisable and expiration date of December 15, 2028. Following these transactions, he directly owned 40,379 shares of common stock and indirectly owned 1,378 shares through an ESOP account.

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).

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^*

Shoukry Paul M

(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
X	Officer (give title below)		Other (specify below)
	CEO

3. Date of Earliest Transaction (Month/Day/Year)
12/15/2025

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	12/15/2025		M		5,441	A	$0(1)	48,716	D
Common Stock	12/15/2025		M		5,440	A	$0(1)	54,156	D
Common Stock	12/15/2025		M		3,264	A	$0(1)	57,420	D
Common Stock	12/15/2025		F		1,284	D	$163.85	56,136	D
Common Stock	12/15/2025		F		2,140	D	$163.85	53,996	D
Common Stock	12/15/2025		F		2,142	D	$163.85	51,854	D
Common Stock	12/15/2025		F		2,771	D	$163.85	49,083	D
Common Stock	12/15/2025		G		8,704	D	$0.0000	40,379	D
Common Stock								1,378(2)	I	ESOP

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
Restricted Stock Units	(1)	12/15/2025		M			3,264	(3)	12/15/2027	Common Stock	3,264	$0.0000	11,243	D
Restricted Stock Units	(1)	12/15/2025		M			5,440	(3)	12/15/2027	Common Stock	5,440	$0.0000	5,803	D
Restricted Stock Units	(1)	12/15/2025		M			5,441	12/15/2025	12/15/2025	Common Stock	5,441	$0.0000	0.0000	D
Restricted Stock Units	(1)	12/15/2025		A		19,530(4)		12/15/2028	12/15/2028	Common Stock	19,530	$0.0000	19,530	D

Explanation of Responses:

1. Each Restricted Stock Unit (RSU) represents a contingent right to receive, upon vesting of the award: (i) one share of common stock, and (ii) accrued cash in lieu of dividends.

2. Includes shares of common stock acquired under the reporting person's Employee Stock Ownership Plan (ESOP) account through December 10, 2025.

3. RSUs vested 60% on 12/15/2025 and will vest 20% on 12/15/2026 and 20% on 12/15/2027.

4. Award of RSUs as a portion of annual bonus under Amended and Restated 2012 Stock Incentive Plan.

Remarks:

This Form 4 reports (i) the vesting of RSUs awarded to the reporting person, (ii) dispositions by the reporting person to the issuer to cover tax liability in connection with such vesting, (iii) the gift of shares by the reporting person, and (iv) a grant of RSUs as a portion of the annual bonus to the reporting person.

	/s/ Paul M. Shoukry by Jonathan J. Doyle as Attorney-in-Fact	12/17/2025
	** 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.
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FAQ

What insider equity transactions did RJF CEO Paul M. Shoukry report?

Paul M. Shoukry reported RSU vesting into common stock, share dispositions to cover tax liability, a gift of common shares, and a new RSU award granted as part of his annual bonus.

When did the reported Raymond James Financial (RJF) transactions occur?

The reported stock and RSU transactions for Raymond James Financial occurred on December 15, 2025, with ESOP share holdings stated as including acquisitions through December 10, 2025.

How many RJF shares were used to cover tax liability and at what price?

To cover tax liability from RSU vesting, Paul M. Shoukry disposed of 1,284, 2,140, 2,142 and 2,771 shares of Raymond James Financial common stock at a price of $163.85 per share.

What RSU vesting and new RSU grants did the RJF CEO disclose?

Previously granted RSUs vested and converted into common stock in amounts of 5,441, 5,440 and 3,264 shares at a stated price of $0. He also received a new award of 19,530 RSUs as part of his annual bonus, linked to common stock with an exercisable and expiration date of December 15, 2028.

What is Paul M. Shoukrys Raymond James Financial (RJF) share ownership after these transactions?

After the reported transactions, Paul M. Shoukry directly owned 40,379 shares of Raymond James Financial common stock and indirectly owned 1,378 shares through an Employee Stock Ownership Plan (ESOP) account.