Form 4: Raymond James COO's Stock Transactions
Insider Transaction Report
Raymond James Financial COO Scott A. Curtis reported RSU vesting, tax-related stock sales, and new RSU grants on December 15, 2025.
Summary
- Scott A. Curtis, Chief Operating Officer of Raymond James Financial Inc. (RJF), reported multiple transactions on December 15, 2025.
- These transactions included the vesting of various Restricted Stock Units (RSUs) and the acquisition of common stock upon vesting.
- Curtis disposed of 15,953 shares of common stock at a price of $163.85 per share to cover tax liabilities associated with the RSU vesting.
- He also received new grants of management RSUs (3,661 units) and annual bonus RSUs (4,348 units).
- Following these transactions, Curtis directly beneficially owns 192,418 shares of common stock and indirectly owns 4,190 shares through an ESOP.
- His direct beneficial ownership of derivative securities (RSUs) stands at 47,515, 20,312, 3,661, and 4,348 units across different vesting schedules.
Sentiment
Score: 5
Explanation: The filing is a routine Form 4 reporting insider transactions related to executive compensation (RSU vesting, tax-related sales, and new grants). It does not contain information that would significantly alter the company's financial outlook or operational status, thus indicating a neutral sentiment.
Positives
- Vesting of Restricted Stock Units (RSUs) for the Chief Operating Officer, indicating performance-based compensation realization.
- Grant of new management RSUs (3,661 units) and annual bonus RSUs (4,348 units), aligning executive incentives with future company performance.
Negatives
- Disposition of 15,953 shares of common stock by the COO to cover tax liabilities, which reduces direct equity ownership.
Future Outlook
The filing indicates future vesting schedules for various Restricted Stock Units, with some units vesting in tranches through December 15, 2030, aligning executive compensation with long-term performance.
Industry Context
This Form 4 filing details routine insider transactions related to executive compensation, specifically the vesting and granting of Restricted Stock Units and subsequent tax-related stock sales. Such transactions are common across the financial services industry as a standard component of executive incentive plans, aiming to align management interests with shareholder value over time.
Stakeholder Impact
- Shareholders: Minor dilution from RSU vesting and grants, but also alignment of executive incentives with long-term shareholder value. The tax-related sales are a routine part of executive compensation.
- Employees: The ESOP mentioned indicates an employee stock ownership plan, which can foster employee alignment with company performance.
Next Steps
- Future vesting of 20% of certain RSUs on December 15, 2026.
- Future vesting of 20% of certain RSUs on December 15, 2027.
- Future vesting of 60% of newly awarded annual bonus RSUs on December 15, 2028.
- Future vesting of 20% of newly awarded annual bonus RSUs on December 15, 2029.
- Future vesting of 20% of newly awarded annual bonus RSUs on December 15, 2030.
Key Dates
| Date | Description |
|---|---|
| 12/10/2025 | Shares of common stock acquired under the reporting person's Employee Stock Ownership Plan (ESOP) account through this date. |
| 12/15/2025 | Date of earliest transaction, including RSU vesting, stock dispositions for tax, and new RSU grants. |
| 12/15/2026 | 20% vesting date for certain RSUs (originally granted prior to 12/15/2025). |
| 12/15/2027 | 20% vesting date for certain RSUs (originally granted prior to 12/15/2025) and expiration date for some derivative securities. |
| 12/15/2028 | 60% vesting date for new RSUs awarded as part of annual bonus and expiration date for these RSUs. |
| 12/15/2029 | 20% vesting date for new RSUs awarded as part of annual bonus. |
| 12/15/2030 | 20% vesting date for new RSUs awarded as part of annual bonus and expiration date for these RSUs. |
| 12/17/2025 | Signature date of the reporting person's attorney-in-fact. |
Keywords
Raymond James Financial, RJF, Scott A. Curtis, Chief Operating Officer, Form 4, Insider Transaction, Restricted Stock Units, RSU, Executive Compensation, Stock Vesting, Tax Liability, Equity Grant
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