Raymond James (RJF) executive details RSU grants and tax share withholdings

Rhea-AI Filing Summary

Raymond James Financial reported that its chief human resources officer completed several equity transactions involving company stock and restricted stock units on December 15, 2025. Restricted stock units (RSUs) converted into common stock, with shares withheld at $163.85 per share to cover tax obligations and a gift of 1,223 shares made at no cost. The officer also received new awards of 3,661 management RSUs and 671 RSUs as part of an annual bonus, with each RSU representing one share of common stock plus accrued cash in lieu of dividends. After these transactions, the officer directly owns 17,022 shares of common stock and holds 696 shares through an Employee Stock Ownership Plan, along with RSU awards scheduled to vest through 2030.

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^*

Aisenbrey Christopher S

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Human Resources Officer

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		3,264	A	$0(1)	19,363	D
Common Stock	12/15/2025		M		589	A	$0(1)	19,952	D
Common Stock	12/15/2025		F		218	D	$163.85	19,734	D
Common Stock	12/15/2025		F		282	D	$163.85	19,452	D
Common Stock	12/15/2025		F		1,207	D	$163.85	18,245	D
Common Stock	12/15/2025		G		1,223	D	$0.0000	17,022	D
Common Stock								696(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	2,176	D
Restricted Stock Units	(1)	12/15/2025		A		3,661		(4)	12/15/2030	Common Stock	3,661	$0.0000	3,661	D
Restricted Stock Units	(1)	12/15/2025		M			589	12/15/2025	12/15/2025	Common Stock	589	$0.0000	0.0000	D
Restricted Stock Units	(1)	12/15/2025		A		671(5)		12/15/2028	12/15/2028	Common Stock	671	$0.0000	671	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. RSUs vest 60% on 12/15/2028, 20% on 12/15/2029, and 20% on 12/15/2030.

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

Remarks:

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

	/s/ Christopher S. Aisenbrey 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 stock transactions did Raymond James Financial (RJF) report for its chief human resources officer?

The chief human resources officer reported RSU conversions into common stock, share withholdings to cover taxes at $163.85 per share, a gift of 1,223 shares, and new grants of restricted stock units as management and bonus awards.

How many Raymond James Financial shares does the executive own after the reported transactions?

Following the reported activity, the executive directly owns 17,022 shares of Raymond James Financial common stock and holds an additional 696 shares through an Employee Stock Ownership Plan (ESOP).

What new restricted stock unit (RSU) awards did the Raymond James Financial executive receive?

The executive received new awards of 3,661 RSUs described as management RSUs and 671 RSUs granted as a portion of the annual bonus under the Amended and Restated 2012 Stock Incentive Plan.

How do the Raymond James Financial RSUs vest over time for this executive?

One RSU award vested 60% on 12/15/2025 and will vest 20% on 12/15/2026 and 20% on 12/15/2027. Another award will vest 60% on 12/15/2028, 20% on 12/15/2029, and 20% on 12/15/2030.

Why were some Raymond James Financial shares disposed of at $163.85 in the report?

Shares shown with transaction code "F" and a price of $163.85 per share represent dispositions of common stock by the executive back to the issuer to cover tax liabilities related to the vesting of RSUs.

What does each restricted stock unit (RSU) represent for Raymond James Financial (RJF)?

Each RSU represents a contingent right to receive, upon vesting, one share of common stock and accrued cash in lieu of dividends, as described in the explanation of responses.

What kind of gift transaction was reported by the Raymond James Financial executive?

The report identifies a bona fide gift of 1,223 shares of Raymond James Financial common stock, recorded with transaction code "G" at a price of $0.0000 per share.