Raymond James Financial (RJF) COO details RSU vesting and bonus stock grants

Rhea-AI Filing Summary

Raymond James Financial Chief Operating Officer Scott A. Curtis reported multiple equity transactions dated 12/15/2025. Previously granted restricted stock units (RSUs) vested into shares of common stock, and some of those shares were transferred back to the issuer at $163.85 per share to cover related tax withholding obligations.

After these transactions, Curtis beneficially owns 192,418 shares of Raymond James common stock directly and an additional 4,190 shares indirectly through an Employee Stock Ownership Plan account. He also received new RSU awards, including 3,661 management RSUs that vest 60% on 12/15/2028, 20% on 12/15/2029 and 20% on 12/15/2030, plus a grant of 4,348 RSUs as part of his annual bonus.

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^*

Curtis Scott 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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Operating 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		27,203	A	$0(1)	200,346	D
Common Stock	12/15/2025		M		4,761	A	$0(1)	205,107	D
Common Stock	12/15/2025		M		3,264	A	$0(1)	208,371	D
Common Stock	12/15/2025		F		1,258	D	$163.85	207,113	D
Common Stock	12/15/2025		F		1,835	D	$163.85	205,278	D
Common Stock	12/15/2025		F		2,375	D	$163.85	202,903	D
Common Stock	12/15/2025		F		10,485	D	$163.85	192,418	D
Common Stock								4,190(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	47,515	D
Restricted Stock Units	(1)	12/15/2025		M			27,203	(3)	12/15/2027	Common Stock	27,203	$0.0000	20,312	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			4,761	12/15/2025	12/15/2025	Common Stock	4,761	$0.0000	0.0000	D
Restricted Stock Units	(1)	12/15/2025		A		4,348(5)		12/15/2028	12/15/2028	Common Stock	4,348	$0.0000	4,348	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 vesting of RSUs awarded to the reporting person, (ii) dispositions by the reporting person to the issuer to cover tax liability in connection with such vesting, (iii) a grant of management RSUs to the reporting person, and (iv) a grant of RSUs as a portion of the annual bonus to the reporting person.

	/s/ Scott A. Curtis 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).
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FAQ

What insider stock transactions did Raymond James Financial (RJF) disclose for its COO?

The report shows that Scott A. Curtis, Chief Operating Officer of Raymond James Financial, had previously granted restricted stock units (RSUs) vest into common stock on 12/15/2025, transferred some shares back to the issuer to cover tax withholding, and received new RSU grants, including management and bonus-related awards.

How many Raymond James Financial (RJF) shares does the COO own after these transactions?

Following the reported transactions, Chief Operating Officer Scott A. Curtis beneficially owns 192,418 shares of Raymond James Financial common stock directly, plus 4,190 additional shares indirectly through his Employee Stock Ownership Plan (ESOP) account.

What new restricted stock unit (RSU) awards did the Raymond James (RJF) COO receive?

The filing reports that 3,661 management RSUs were granted to Scott A. Curtis, vesting 60% on 12/15/2028, 20% on 12/15/2029 and 20% on 12/15/2030, along with an additional grant of 4,348 RSUs awarded as a portion of his annual bonus.

Why were some Raymond James Financial (RJF) shares disposed of at $163.85?

The reported dispositions reflect shares of Raymond James Financial common stock transferred by Scott A. Curtis to the issuer at a price of $163.85 per share to cover the tax liability arising from the vesting of his restricted stock units.

How do Scott A. Curtis’s outstanding RSUs at Raymond James (RJF) vest over time?

Certain RSU awards referenced in the report vested 60% on 12/15/2025 and are scheduled to vest 20% on 12/15/2026 and 20% on 12/15/2027, while a separate management RSU grant of 3,661 units will vest 60% on 12/15/2028, 20% on 12/15/2029 and 20% on 12/15/2030.

What does one restricted stock unit (RSU) represent in the Raymond James Financial (RJF) filing?

Each restricted stock unit (RSU) reported for Scott A. Curtis represents a contingent right to receive, upon vesting of the award, one share of Raymond James Financial common stock plus accrued cash in lieu of dividends.