Raymond James (RJF) director Benjamin Esty granted 1,303 deferred stock units

Rhea-AI Filing Summary

Raymond James Financial director Benjamin Esty received an equity grant rather than buying shares on the market. He was awarded 1,303 Deferred Restricted Stock Units (DRSUs) as part of his Board compensation, which will convert one-for-one into common shares after vesting and later settlement. Following this grant, he holds 31,794 common shares, including DRSUs, with vesting tied to the next annual shareholders meeting and settlement deferred until he leaves the Board.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Esty Benjamin

Role Director

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

Holdings After Transaction: Common Stock — 31,794 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 date the reporting person terminates his or her service on the Board of Directors. Includes DRSUs.

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Form 4 Insider Transactions: What Each Field Means →

Accepted by SEC EDGAR 02/23/2026 - 03:48 PM Learn about SEC filing dates

FAQ

What did Raymond James Financial (RJF) director Benjamin Esty report on this Form 4?

Benjamin Esty reported receiving 1,303 Deferred Restricted Stock Units (DRSUs) of Raymond James Financial common stock as part of his Board compensation. These units are an equity award, not an open-market purchase, and increase his total holdings to 31,794 shares including DRSUs.

Is Benjamin Esty buying or selling Raymond James Financial (RJF) shares in this filing?

The filing shows an acquisition through a grant, not a market buy or sale. Esty received 1,303 Deferred Restricted Stock Units as compensation for Board service, which will later convert into common shares on a one-to-one basis after vesting and settlement.

How many Raymond James Financial (RJF) shares does Benjamin Esty hold after this Form 4 transaction?

After the grant, Benjamin Esty holds 31,794 Raymond James Financial common shares, including Deferred Restricted Stock Units. This total reflects his direct ownership position following the award of 1,303 DRSUs reported in the Form 4 insider transaction filing.

What are Deferred Restricted Stock Units (DRSUs) in the Raymond James Financial (RJF) Form 4?

Deferred Restricted Stock Units are stock-based awards that convert into common shares later. Esty’s 1,303 DRSUs convert one-for-one into RJF shares upon vesting, and settlement is deferred until he terminates service on the Board, according to his irrevocable deferral election.

When do Benjamin Esty’s Raymond James Financial (RJF) DRSUs vest and settle?

The DRSUs vest at the next succeeding annual shareholders meeting after the grant date, but no later than March 15 of the following calendar year. Settlement of the vested DRSUs is deferred until Esty ends his service on the Raymond James Financial Board of Directors.

Does Benjamin Esty receive dividends on his Raymond James Financial (RJF) DRSUs?

According to the filing, upon vesting the Deferred Restricted Stock Units convert into the right to receive common shares together with accrued cash in lieu of dividends. This means dividend equivalents accrue in cash form and are paid when the DRSUs ultimately settle.

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^*

Esty Benjamin

(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	31,794(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 date the reporting person terminates his or her service on the Board of Directors.

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/ Benjamin C. Esty 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.