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Raymond James Financial (RJF) details executive gifts, RSUs and tax sales

Filing Impact
(Very High)
Filing Sentiment
(Negative)
Form Type
4

Rhea-AI Filing Summary

Raymond James Financial executive Tashtego S. Elwyn, President, PCG, reported several equity transactions. On 12/12/2025 he made gifts of 2,703 shares of common stock. On 12/15/2025 multiple restricted stock unit (RSU) awards vested, delivering 27,203, 4,194 and 3,264 shares of common stock at reported prices of $0, while 1,284, 1,651, 2,136 and 10,704 shares were disposed of at $163.85 per share to cover tax liability in connection with the vesting.

Elwyn also received new RSU grants of 3,661 units that vest 60% on 12/15/2028, 20% on 12/15/2029 and 20% on 12/15/2030, and 6,103 units that vest on 12/15/2028 as a portion of his annual bonus under the Amended and Restated 2012 Stock Incentive Plan. After these transactions, he directly owned 55,114 common shares, 7,492 shares through an Employee Stock Ownership Plan account, and 75 shares in each of two custodial accounts for his children, and continued to hold RSU awards, each representing a contingent right to one share of common stock plus accrued cash in lieu of dividends.

Positive

  • None.

Negative

  • None.
Insider Elwyn Tashtego S
Role President, PCG
Type Security Shares Price Value
Exercise Restricted Stock Units 3,264 $0.00 $0.00
Exercise Restricted Stock Units 27,203 $0.00 $0.00
Grant/Award Restricted Stock Units 3,661 $0.00 $0.00
Exercise Restricted Stock Units 4,194 $0.00 $0.00
Grant/Award Restricted Stock Units 6,103 $0.00 $0.00
Exercise Common Stock 27,203 $0.00 $0.00
Exercise Common Stock 4,194 $0.00 $0.00
Exercise Common Stock 3,264 $0.00 $0.00
Exercise Price or Tax Liability Common Stock 1,284 $163.85 $210K
Exercise Price or Tax Liability Common Stock 1,651 $163.85 $271K
Exercise Price or Tax Liability Common Stock 2,136 $163.85 $350K
Exercise Price or Tax Liability Common Stock 10,704 $163.85 $1.75M
Gift Common Stock 2,703 $0.00 $0.00
holding Common Stock -- -- --
holding Common Stock -- -- --
holding Common Stock -- -- --
Holdings After Transaction: Restricted Stock Units — 30,076 shares (Direct); Common Stock — 55,114 shares (Direct); Common Stock — 7,492 shares (Indirect, ESOP); Common Stock — 75 shares (Indirect, UTMA Custodian for Daughter); Common Stock — 75 shares (Indirect, UTMA Custodian for Son)
Footnotes (7)
  1. F1. The reporting person effected multiple gifts on the same day in different amounts.
  2. F2. 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.
  3. F3. Includes shares of common stock acquired under the reporting person's Employee Stock Ownership Plan (ESOP) account through December 10, 2025.
  4. F4. The reporting person disclaims beneficial ownership of these securities, and the filing of this report is not an admission that the reporting person is the beneficial owner of these securities for purposes of Section 16 or for any other purpose.
  5. F5. RSUs vested 60% on 12/15/2025 and will vest 20% on 12/15/2026 and 20% on 12/15/2027.
  6. F6. RSUs vest 60% on 12/15/2028, 20% on 12/15/2029, and 20% on 12/15/2030.
  7. F7. Award of RSUs as a portion of annual bonus under Amended and Restated 2012 Stock Incentive Plan.

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Form 4 Insider Transactions: What Each Field Means →
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*
Elwyn Tashtego S
(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)
President, PCG
3. Date of Earliest Transaction (Month/Day/Year)
12/12/2025
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 12/12/2025 G 2,703(1) D $0.0000 36,228 D
Common Stock 12/15/2025 M 27,203 A $0(2) 63,431 D
Common Stock 12/15/2025 M 4,194 A $0(2) 67,625 D
Common Stock 12/15/2025 M 3,264 A $0(2) 70,889 D
Common Stock 12/15/2025 F 1,284 D $163.85 69,605 D
Common Stock 12/15/2025 F 1,651 D $163.85 67,954 D
Common Stock 12/15/2025 F 2,136 D $163.85 65,818 D
Common Stock 12/15/2025 F 10,704 D $163.85 55,114 D
Common Stock 7,492(3) I ESOP
Common Stock 75(4) I UTMA Custodian for Daughter
Common Stock 75(4) I UTMA Custodian for Son
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 (2) 12/15/2025 M 3,264 (5) 12/15/2027 Common Stock 3,264 $0.0000 47,515 D
Restricted Stock Units (2) 12/15/2025 M 27,203 (5) 12/15/2027 Common Stock 27,203 $0.0000 20,312 D
Restricted Stock Units (2) 12/15/2025 A 3,661 (6) 12/15/2030 Common Stock 3,661 $0.0000 3,661 D
Restricted Stock Units (2) 12/15/2025 M 4,194 12/15/2025 12/15/2025 Common Stock 4,194 $0.0000 0.0000 D
Restricted Stock Units (2) 12/15/2025 A 6,103(7) 12/15/2028 12/15/2028 Common Stock 6,103 $0.0000 6,103 D
Explanation of Responses:
1. The reporting person effected multiple gifts on the same day in different amounts.
2. 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.
3. Includes shares of common stock acquired under the reporting person's Employee Stock Ownership Plan (ESOP) account through December 10, 2025.
4. The reporting person disclaims beneficial ownership of these securities, and the filing of this report is not an admission that the reporting person is the beneficial owner of these securities for purposes of Section 16 or for any other purpose.
5. RSUs vested 60% on 12/15/2025 and will vest 20% on 12/15/2026 and 20% on 12/15/2027.
6. RSUs vest 60% on 12/15/2028, 20% on 12/15/2029, and 20% on 12/15/2030.
7. Award of RSUs as a portion of annual bonus under Amended and Restated 2012 Stock Incentive Plan.
Remarks:
This Form 4 reports (i) the gift of shares by the reporting person, (ii) the vesting of RSUs awarded to the reporting person, (iii) dispositions by the reporting person to the issuer to cover tax liability in connection with such vesting, (iv) a grant of management RSUs to the reporting person, and (v) a grant of RSUs as a portion of the annual bonus to the reporting person.
/s/ Tashtego S. Elwyn by Jonathan J. Doyle as Attorney-in-Fact 12/16/2025
** 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