Form 4: Jefferies CEO Handler's Equity Changes

Sentiment:

Statement of Changes in Beneficial Ownership 12 December 2025 9:17 PM

📋All filings for Jefferies Financial Group INC

Jefferies Financial Group CEO Richard B. Handler reported several equity transactions, including RSU grants and PSU forfeitures, alongside a share transfer for tax planning.

Summary

Richard B. Handler, CEO and Director of Jefferies Financial Group Inc. (JEF), reported multiple transactions involving Common Stock.
On December 10, 2025, 23,742 Performance Stock Units (PSUs) were forfeited due to not achieving performance targets.
Also on December 10, 2025, 121,300 target Performance-Based Restricted Stock Units (RSUs) were granted under the Company's Equity Compensation Plan at a price of $61.83 per share.
An additional 121,300 Restricted Stock Units (RSUs) were granted on December 10, 2025, under the Company's Equity Compensation Plan at a price of $61.83 per share.
On December 12, 2025, 128,163 shares were gifted to Reporting Person's 2024-B LLC, an entity managed by the Reporting Person and whose members are the Reporting Person's trusts, for tax planning purposes.
This transfer for tax planning resulted in no increase or decrease to the Reporting Person's overall beneficial holdings, shifting 128,163 shares from direct to indirect ownership.
Following these transactions, direct beneficial ownership stands at 13,698,295 shares, with various indirect holdings totaling 2,954,184 shares across several trusts and LLCs.

Sentiment

Score: 6

Explanation: The filing details routine insider transactions, including significant RSU grants to the CEO, which align his interests with shareholders, offset by a forfeiture of PSUs due to unmet performance targets. A share transfer for tax planning is also noted.

Positives

The grant of 242,600 Restricted Stock Units (RSUs), including performance-based units, aligns the CEO's compensation and interests with the company's future performance and shareholder value.
The transfer of shares to an LLC for tax planning demonstrates proactive personal financial management by the CEO, without reducing his overall beneficial ownership in the company.

Negatives

Forfeiture of 23,742 Performance Stock Units (PSUs) indicates that certain performance targets for prior equity grants were not achieved.

Future Outlook

Industry Context

Related Party Transactions

Gift of 128,163 shares of Common Stock to Reporting Person's 2024-B LLC, an entity managed by the Reporting Person and whose members are the Reporting Person's trusts, for tax planning purposes.

Stakeholder Impact

Shareholders: The grant of Restricted Stock Units aligns the CEO's interests with shareholder value creation. The forfeiture of Performance Stock Units demonstrates that compensation is tied to achieving specific performance targets.

Key Dates

Date	Description
12/10/2025	Forfeiture of PSUs, Grant of Performance-Based RSUs, and Grant of RSUs.
12/12/2025	Gift of shares to Reporting Person's 2024-B LLC.

Recommendation

hold

The Form 4 details routine insider transactions, including equity grants as part of compensation and a share transfer for tax planning. These events do not provide new fundamental information to alter an investment thesis, thus a 'hold' recommendation is maintained.

Keywords

Jefferies Financial Group, JEF, Richard B. Handler, Insider Trading, Form 4, Equity Compensation, Restricted Stock Units, Performance Stock Units, CEO, Share Ownership

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