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  4. [Form 4] RAYMOND JAMES FINANCIAL INC Insider Trading Activity

Raymond James (RJF) Chief Strategy Officer reports RSU vesting and stock disposals

Filing Impact
(Moderate)
Filing Sentiment
(Negative)
Form Type
4

Rhea-AI Filing Summary

Raymond James Financial Inc. reported insider equity activity by its Chief Strategy Officer, Tarek Helal. The filing details the vesting of multiple Restricted Stock Unit (RSU) awards on 11/30/2025 and 12/02/2025, with RSUs converting into shares of common stock at no cash exercise price. On those dates, shares were also withheld and disposed of at prices of $156.54 and $155.83 per share to cover related tax obligations.

Following these transactions, Helal directly beneficially owned 25,029 shares of Raymond James common stock, plus 161 shares held through the Mohamed Anis Helal March 2022 GRAT #4 and 535 shares held in an Employee Stock Ownership Plan account. The explanation notes that RSUs vest in tranches over several years and that each RSU delivers one share of common stock and accrued cash in lieu of dividends when it vests.

Positive

  • None.

Negative

  • None.
Insider Helal Tarek
Role Chief Strategy Officer
Type Security Shares Price Value
Exercise Restricted Stock Units 442 $0.00 $0.00
Exercise Common Stock 442 $0.00 $0.00
Exercise Price or Tax Liability Common Stock 107 $155.83 $17K
Exercise Restricted Stock Units 900 $0.00 $0.00
Exercise Restricted Stock Units 611 $0.00 $0.00
Exercise Restricted Stock Units 1,554 $0.00 $0.00
Exercise Common Stock 1,554 $0.00 $0.00
Exercise Common Stock 900 $0.00 $0.00
Exercise Common Stock 611 $0.00 $0.00
Exercise Price or Tax Liability Common Stock 148 $156.54 $23K
Exercise Price or Tax Liability Common Stock 220 $156.54 $34K
Exercise Price or Tax Liability Common Stock 378 $156.54 $59K
holding Common Stock -- -- --
holding Common Stock -- -- --
Holdings After Transaction: Restricted Stock Units — 1,647 shares (Direct); Common Stock — 25,029 shares (Direct); Common Stock — 161 shares (Indirect, By the Mohamed Anis Helal March 2022 GRAT #4); Common Stock — 535 shares (Indirect, ESOP)
Footnotes (6)
  1. F1. 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. F2. Includes 54 shares of common stock acquired on March 4, 2025, 57 shares of common stock acquired on June 3, 2025, and 49 shares of common stock acquired on September 3, 2025, pursuant to the registrant's Employee Stock Purchase Plan.
  3. F3. Includes shares of common stock acquired under the reporting person's Employee Stock Ownership Plan (ESOP) account through November 24, 2025.
  4. F4. RSUs vested 60% on 11/30/2023, 20% on 11/30/2024, and 20% on 11/30/2025.
  5. F5. RSUs vested 60% on 11/30/2024, 20% on 11/30/2025, and will vest 20% on 11/30/2026.
  6. F6. RSUs vested 60% on 11/30/2025 and will vest 20% on 11/30/2026 and 20% on 11/30/2027.

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Form 4 Insider Transactions: What Each Field Means →

FAQ

What did Raymond James Financial (RJF) disclose in this Form 4?

The filing reports RSU vesting for Chief Strategy Officer Tarek Helal and related share dispositions to the issuer to cover tax liabilities arising from those vestings.

Who is the reporting person in this Raymond James Financial (RJF) Form 4?

The reporting person is Tarek Helal, who serves as Chief Strategy Officer of Raymond James Financial Inc.

What transactions occurred on November 30, 2025 for RJF stock?

On 11/30/2025, several RSU awards were exercised (transaction code M) into common stock at $0, and shares were disposed of (code F) at $156.54 per share to satisfy tax obligations.

What transactions occurred on December 2, 2025 for RJF stock?

On 12/02/2025, additional RSUs were exercised into common stock at $0, and a portion of shares was disposed of at $155.83 per share to cover taxes related to the vesting.

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

After the reported transactions, Tarek Helal beneficially owned 25,029 shares directly, 161 shares indirectly through the Mohamed Anis Helal March 2022 GRAT #4, and 535 shares through an ESOP account.

How do the RSUs for Raymond James (RJF) vest according to this filing?

The explanations show RSU awards vesting in 60% / 20% / 20% tranches over three years, with specific tranches vesting on 11/30/2023, 11/30/2024, 11/30/2025, and future tranches scheduled for 11/30/2026 and 11/30/2027.

What does each Raymond James (RJF) RSU provide upon vesting?

Each RSU represents a contingent right to receive, upon vesting, one share of common stock and accrued cash in lieu of dividends.

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*
Helal Tarek
(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 Strategy Officer
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 1,554 A $0(1) 23,929(2) D
Common Stock 11/30/2025 M 900 A $0(1) 24,829(2) D
Common Stock 11/30/2025 M 611 A $0(1) 25,440(2) D
Common Stock 11/30/2025 F 148 D $156.54 25,292(2) D
Common Stock 11/30/2025 F 220 D $156.54 25,072(2) D
Common Stock 11/30/2025 F 378 D $156.54 24,694(2) D
Common Stock 12/02/2025 M 442 A $0(1) 25,136(2) D
Common Stock 12/02/2025 F 107 D $155.83 25,029(2) D
Common Stock 161 I By the Mohamed Anis Helal March 2022 GRAT #4
Common Stock 535(3) 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 900 (4) 11/30/2025 Common Stock 900 $0.0000 0.0000 D
Restricted Stock Units (1) 11/30/2025 M 611 (5) 11/30/2026 Common Stock 611 $0.0000 611 D
Restricted Stock Units (1) 11/30/2025 M 1,554 (6) 11/30/2027 Common Stock 1,554 $0.0000 1,036 D
Restricted Stock Units (1) 12/02/2025 M 442 12/02/2025 12/02/2025 Common Stock 442 $0.0000 0.0000 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 54 shares of common stock acquired on March 4, 2025, 57 shares of common stock acquired on June 3, 2025, and 49 shares of common stock acquired on September 3, 2025, pursuant to the registrant's Employee Stock Purchase Plan.
3. Includes shares of common stock acquired under the reporting person's Employee Stock Ownership Plan (ESOP) account through November 24, 2025.
4. RSUs vested 60% on 11/30/2023, 20% on 11/30/2024, and 20% on 11/30/2025.
5. RSUs vested 60% on 11/30/2024, 20% on 11/30/2025, and will vest 20% on 11/30/2026.
6. RSUs vested 60% on 11/30/2025 and will vest 20% on 11/30/2026 and 20% on 11/30/2027.
Remarks:
This Form 4 reports (i) the 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. helalpoa.txt
/s/ Tarek Helal 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.

Source: View Original Filing on SEC EDGAR