Raymond James (RJF) Executive Chair Paul Reilly details RSU vesting and tax-related share disposals

Rhea-AI Filing Summary

Raymond James Financial (RJF) Executive Chair Paul C. Reilly reported equity award activity and related share withholding. On 11/30/2025, restricted stock units (RSUs) converted into 3,900 shares of common stock from one award and 2,740 shares from another, reflecting scheduled vesting.

To cover tax liabilities tied to this vesting, Reilly disposed of 1,013 and 1,443 shares of common stock at a price of $156.54 per share. Following these transactions, he directly beneficially owned 260,547 shares of common stock and indirectly held 1,998 shares through an Employee Stock Ownership Plan account as of late November 2025.

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^*

REILLY PAUL C

(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)
	Executive Chair

3. Date of Earliest Transaction (Month/Day/Year)
11/30/2025

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	11/30/2025		M		3,900	A	$0(1)	260,263	D
Common Stock	11/30/2025		M		2,740	A	$0(1)	263,003	D
Common Stock	11/30/2025		F		1,013	D	$156.54	261,990	D
Common Stock	11/30/2025		F		1,443	D	$156.54	260,547	D
Common Stock								1,998(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)	11/30/2025		M			3,900	(3)	11/30/2025	Common Stock	3,900	$0.0000	0.0000	D
Restricted Stock Units	(1)	11/30/2025		M			2,740	(4)	11/30/2026	Common Stock	2,740	$0.0000	2,739	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 November 24, 2025.

3. RSUs vested 60% on 11/30/2023, 20% on 11/30/2024, and 20% on 11/30/2025.

4. RSUs vested 60% on 11/30/2024, 20% on 11/30/2025, and will vest 20% on 11/30/2026.

Remarks:

This Form 4 reports (i) the partial vesting of RSUs awarded to the reporting person and (ii) dispositions by the reporting person to the issuer to cover the tax liability in connection with such vesting. reillypoa.txt

	/s/ Paul C. Reilly by Jonathan J. Doyle as Attorney-in-Fact	12/02/2025
	** 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.
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 activity did RJF Executive Chair Paul C. Reilly report?

Paul C. Reilly reported the vesting and settlement of restricted stock units into 3,900 and 2,740 shares of Raymond James Financial common stock on 11/30/2025, plus related share dispositions to pay taxes.

How many RJF shares did Paul C. Reilly dispose of for taxes?

On 11/30/2025, Reilly disposed of 1,013 and 1,443 RJF common shares at $156.54 per share to cover tax obligations associated with RSU vesting.

How many RJF shares does Paul C. Reilly own after these transactions?

After the reported transactions, Paul C. Reilly beneficially owned 260,547 RJF common shares directly and 1,998 shares indirectly through an Employee Stock Ownership Plan (ESOP) account.

What do the vested RSUs represent for RJF Executive Chair Paul C. Reilly?

Each vested RSU represents a contingent right to receive one share of RJF common stock plus accrued cash in lieu of dividends upon vesting, as described in the footnotes.

How were Paul C. Reilly's RJF RSUs scheduled to vest?

One RSU grant vested 60% on 11/30/2023, 20% on 11/30/2024, and 20% on 11/30/2025. Another vested 60% on 11/30/2024, 20% on 11/30/2025, and will vest 20% on 11/30/2026.

What is Paul C. Reilly’s role at Raymond James Financial (RJF)?

Paul C. Reilly is reported as both a Director and an Officer of Raymond James Financial, serving as Executive Chair.