Form 4: Raymond James CEO Shoukry Reports Equity Transactions
Insider Transaction Report
Raymond James Financial CEO Paul M. Shoukry reported routine equity transactions including RSU vesting, tax-related dispositions, a share gift, and a new RSU grant.
Summary
- Paul M. Shoukry, CEO and Director of Raymond James Financial Inc. (RJF), reported multiple transactions on December 15, 2025.
- Transactions included the vesting of 14,145 Restricted Stock Units (RSUs) into common stock.
- A total of 8,337 shares of common stock were disposed of at a price of $163.85 per share to cover tax liabilities associated with the RSU vesting.
- Shoukry gifted 8,704 shares of common stock.
- A new grant of 19,530 RSUs was awarded as a portion of his annual bonus under the Amended and Restated 2012 Stock Incentive Plan.
- Following these transactions, Shoukry directly beneficially owns 40,379 shares of common stock and indirectly owns 1,378 shares through an ESOP.
- He also beneficially owns 36,576 derivative securities in the form of Restricted Stock Units.
Sentiment
Score: 5
Explanation: The filing is a routine disclosure of insider transactions related to compensation and personal financial planning, which typically has a neutral sentiment impact. It reflects standard executive compensation practices without indicating any significant positive or negative operational or financial news for the company.
Positives
- The grant of 19,530 new Restricted Stock Units (RSUs) demonstrates continued equity-based compensation and alignment of management interests with shareholders.
- The vesting of RSUs indicates the achievement of prior compensation milestones.
Negatives
- Disposition of 8,337 shares of common stock to cover tax liabilities reduces direct beneficial ownership.
- A gift of 8,704 shares of common stock further reduces direct beneficial ownership.
Risks
- The value of the remaining equity holdings and future RSU grants is subject to market fluctuations of Raymond James Financial Inc. common stock.
Future Outlook
The reporting person has future vesting events for Restricted Stock Units scheduled for December 15, 2026, December 15, 2027, and December 15, 2028, indicating continued long-term equity incentives.
Industry Context
This Form 4 filing is a routine disclosure of insider transactions, common for executives in publicly traded financial services companies. It reflects standard equity compensation practices and tax management related to RSU vesting.
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Compensation Plan Reference | The new RSU award was granted under the Amended and Restated 2012 Stock Incentive Plan. | 12/15/2025 | Indicates the company's ongoing use of established equity incentive plans for executive compensation, aligning management interests with long-term shareholder value. |
Related Party Transactions
- The transactions involve the CEO and Director of Raymond James Financial Inc. and are related to his compensation and personal shareholdings.
Stakeholder Impact
- Shareholders: The transactions reflect routine executive compensation and share ownership changes, which are standard for aligning management incentives with shareholder interests. The gift of shares slightly reduces the CEO's direct ownership but is a personal decision.
- Employees: The Employee Stock Ownership Plan (ESOP) mentioned indicates a broader employee ownership program, though the specific transactions are for the CEO.
Next Steps
- Future vesting of Restricted Stock Units on December 15, 2026, December 15, 2027, and December 15, 2028.
Key Dates
| Date | Description |
|---|---|
| 12/10/2025 | Date through which shares of common stock were acquired under the reporting person's Employee Stock Ownership Plan (ESOP) account. |
| 12/15/2025 | Date of earliest transaction, including RSU vesting, tax-related dispositions, share gift, and new RSU grant. Also, 60% vesting date for certain RSUs. |
| 12/17/2025 | Date the Form 4 was signed and filed. |
| 12/15/2026 | Future vesting date for 20% of certain Restricted Stock Units. |
| 12/15/2027 | Future vesting date for 20% of certain Restricted Stock Units. |
| 12/15/2028 | Vesting date for the newly awarded 19,530 Restricted Stock Units. |
Keywords
Raymond James Financial, RJF, Paul M. Shoukry, Form 4, Insider Trading, Restricted Stock Units, RSU, Equity Compensation, CEO, Stock Grant, Tax Disposition
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