Form 4: Raymond James CEO Shoukry Vests 7,043 Shares

Raymond James Financial CEO Paul M. Shoukry acquired 7,043 shares of common stock through the vesting of performance restricted stock units.

Summary

• Paul M. Shoukry, CEO and Director of Raymond James Financial Inc. (RJF), acquired 7,043 shares of common stock.
• This acquisition resulted from the vesting of Performance Restricted Stock Units (PRSUs) that were granted on December 15, 2022.
• The vesting was contingent on the company achieving specific levels of average after-tax return-on-equity, adjusted by its relative total shareholder return compared to a peer group over a three-year measurement period.
• Following this transaction, Shoukry directly beneficially owns 43,275 shares of common stock.
• Additionally, Shoukry indirectly owns 1,378 shares through an Employee Stock Ownership Plan (ESOP) account as of November 24, 2025.

Sentiment

Score: 7

Explanation: The vesting of performance-based restricted stock units indicates the company met its internal performance targets, which is a positive signal. It also increases the CEO's direct ownership, aligning interests with shareholders.

Positives

• The vesting of 7,043 Performance Restricted Stock Units (PRSUs) indicates that Raymond James Financial met or exceeded its performance targets related to average after-tax return-on-equity and relative total shareholder return over the three-year measurement period.
• The increase in direct beneficial ownership by the CEO further aligns management's interests with those of shareholders.

Future Outlook

NA

Industry Context

This is a routine insider transaction related to executive compensation, common across publicly traded companies. It reflects the company's performance against internal metrics rather than broader industry trends.

Stakeholder Impact

• Shareholders: The vesting of performance-based restricted stock units indicates the company met its performance targets, which is generally positive for shareholders. It also increases the CEO's direct ownership, further aligning management's interests with shareholder value.
• Employees: The company's performance, which led to the vesting, can positively impact employee morale and potentially future compensation structures.

Key Dates

Recommendation

This Form 4 reports a routine vesting of performance-based restricted stock units for the CEO, indicating the company met its internal performance targets. While positive, it does not present new information that would fundamentally alter the investment thesis for Raymond James Financial, thus a 'hold' recommendation is appropriate.

Keywords

Raymond James Financial, RJF, Paul M. Shoukry, CEO, Director, SEC Form 4, Insider Transaction, Stock Vesting, Restricted Stock Units, Performance Shares, Executive Compensation