Raymond James (NYSE: RJF) CEO reports 7,043-share RSU vesting and ownership

Rhea-AI Filing Summary

Raymond James Financial CEO and director Paul M. Shoukry reported acquiring common stock through equity compensation. On 12/02/2025, 7,043 shares of common stock were acquired at a price of $0.0000 per share, reflecting the vesting of performance restricted stock units granted on 12/15/2022.

These performance RSUs vested based on the company’s average after-tax return on equity and relative total shareholder return versus a peer group over a three-year period. After this vesting, Shoukry beneficially owns 43,275 shares directly and 1,378 shares indirectly through an Employee Stock Ownership Plan 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)
12/02/2025

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	12/02/2025		A		7,043(1)	A	$0.0000	43,275	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

Explanation of Responses:

1. Vesting of Performance Restricted Stock Units (PRSUs) granted on 12/15/2022.

2. Includes shares of common stock acquired under the reporting person's Employee Stock Ownership Plan (ESOP) account through November 24, 2025.

Remarks:

This Form 4 reports the acquisition by the reporting person of common stock resulting from the vesting of Restricted Stock Units (RSUs) granted on 12/15/2022 based on the company's attaining certain levels of average after-tax return-on-equity, as modified by the company's relative total shareholder return compared to a peer group, over a three-year measurement period.

	/s/ Paul M. Shoukry by Jonathan J. Doyle as Attorney-in-Fact	12/04/2025
	** 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).
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FAQ

What did Raymond James Financial (RJF) disclose in this Form 4 filing?

The filing reports that CEO and director Paul M. Shoukry acquired 7,043 shares of common stock on 12/02/2025 through the vesting of performance restricted stock units.

How many Raymond James Financial (RJF) shares does Paul M. Shoukry now beneficially own?

After the reported transaction, Paul M. Shoukry beneficially owns 43,275 RJF shares directly and 1,378 RJF shares indirectly through an ESOP account.

What triggered the 7,043-share RSU vesting at Raymond James Financial (RJF)?

The 7,043 shares resulted from vesting of performance restricted stock units granted on 12/15/2022, based on achieving certain average after-tax return-on-equity levels and relative total shareholder return over a three-year period.

Did Paul M. Shoukry sell any Raymond James Financial (RJF) shares in this Form 4?

The reported transaction is coded as an acquisition (A) of 7,043 common shares at $0.0000 per share, with no dispositions listed in the table.

How are some of Paul M. Shoukry’s Raymond James Financial (RJF) shares held?

In addition to directly held shares, the filing notes 1,378 RJF shares held indirectly in an Employee Stock Ownership Plan (ESOP) account through November 24, 2025.

What performance metrics were tied to the vested RSUs at Raymond James Financial (RJF)?

The vested RSUs were based on the company’s average after-tax return-on-equity, modified by relative total shareholder return versus a peer group over a three-year measurement period.