Board member Anne Gates receives 1,303 deferred stock units at Raymond James (RJF)

Rhea-AI Filing Summary

Raymond James Financial director Anne Gates received an equity grant of 1,303 Deferred Restricted Stock Units (DRSUs) as board compensation. Each DRSU will convert into one share of common stock upon vesting, with additional cash in lieu of dividends.

The DRSUs 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 will be deferred until the fifth anniversary of the vest date, in line with Gates’ prior election.

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^*

Gates Anne

(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	16,848(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 fifth anniversary of the vest date.

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/ Anne Gates 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 Anne Gates report on Form 4?

Anne Gates reported an acquisition of 1,303 Deferred Restricted Stock Units as compensation for serving on Raymond James Financial’s board. These units are not a cash purchase but an equity award that converts into common stock after vesting and later settlement.

How many Raymond James (RJF) units did Anne Gates acquire in this grant?

Anne Gates acquired 1,303 Deferred Restricted Stock Units in this grant. Each unit represents the right to receive one share of Raymond James common stock after vesting, plus accrued cash in lieu of dividends paid during the deferral period.

When do Anne Gates’ RJF Deferred Restricted Stock Units vest?

The Deferred Restricted Stock Units vest at the next annual shareholders meeting following the grant date, or earlier of that schedule but no later than March 15 of the calendar year after grant, aligning vesting with the company’s director compensation cycle.

When will Anne Gates actually receive RJF shares from these DRSUs?

Settlement of the Deferred Restricted Stock Units will occur on the fifth anniversary of the vest date. At that time, each vested unit converts into one share of common stock, along with a cash amount representing dividends that accrued during the deferral period.

What are Deferred Restricted Stock Units (DRSUs) in the RJF filing?

Deferred Restricted Stock Units are equity awards that give the holder a right to receive common shares in the future. For Anne Gates, each DRSU converts one-for-one into Raymond James common stock after vesting, with receipt of the shares deferred for five years after vesting.

How many RJF shares does Anne Gates hold after this Form 4 transaction?

Following this transaction, Anne Gates beneficially owns 16,848 shares or units of Raymond James common stock, including Deferred Restricted Stock Units. This figure reflects her updated total direct ownership reported after the 1,303-unit board compensation grant.