Board member at Raymond James (NYSE: RJF) granted 1,303 deferred stock units

Rhea-AI Filing Summary

Raymond James Financial director Art A. Garcia acquired 1,303 Deferred Restricted Stock Units (DRSUs) as part of his Board compensation. These DRSUs convert into an equal number of common shares, plus cash in lieu of dividends, when they vest.

The units vest at the next annual shareholders meeting following the grant, but no later than March 15 of the following calendar year. Settlement of the vested DRSUs is deferred until Garcia leaves the Board, and his directly held common stock, including DRSUs, totals 6,992 shares after this grant.

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^*

GARCIA ART A

(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	6,992(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/ Art A. Garcia 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.

FAQ

What insider transaction did RJF director Art A. Garcia report on this Form 4?

Art A. Garcia reported acquiring 1,303 Deferred Restricted Stock Units as part of his compensation for serving on Raymond James Financial’s Board. These units are a stock-based award that converts into common shares upon vesting, plus accrued cash instead of dividends.

How do the DRSUs granted to RJF director Art A. Garcia vest?

The Deferred Restricted Stock Units vest on the date of the next annual shareholders meeting following the grant. However, vesting will occur no later than March 15 of the calendar year after the grant, providing a clear outside vesting deadline for this award.

When will Art A. Garcia receive RJF common shares from his DRSUs?

After vesting, the DRSUs convert one-for-one into rights to receive Raymond James Financial common shares. Actual settlement is deferred until Garcia terminates his service on the Board, delaying delivery of the shares and related cash in lieu of dividends.

What is the total RJF common stock held by Art A. Garcia after this transaction?

Following the grant, Art A. Garcia directly holds 6,992 shares of Raymond James Financial common stock, which includes his Deferred Restricted Stock Units. This figure reflects his updated beneficial ownership position as reported in the Form 4 filing.

Did Art A. Garcia pay a price per share for the RJF DRSU grant?

The reported price per share for the 1,303 Deferred Restricted Stock Units is $0.0000, indicating the award was granted as compensation rather than purchased. It represents a non-cash equity grant tied to his role on the Board.