Form 4: Raymond James Director Receives Equity Grant

Raymond James Financial Director Mark W. Begor was granted 1,303 Deferred Restricted Stock Units as part of his compensation for board service.

Summary

• Director Mark W. Begor received a grant of 1,303 Deferred Restricted Stock Units (DRSUs) on February 19, 2026.
• These DRSUs are part of his compensation for service on the Raymond James Financial Inc. Board of Directors.
• The DRSUs convert to common stock on a one-to-one basis upon vesting, along with accrued cash in lieu of dividends.
• Vesting occurs at the next annual shareholders meeting following the grant date, but no later than March 15 of the calendar year following the grant.
• Settlement of these DRSUs will be deferred until Begor terminates his service on the Board, based on an irrevocable election.
• Following this transaction, Begor beneficially owns 2,285 securities, which include DRSUs.

Sentiment

Score: 7

Explanation: StockSavvy.ai views this as a routine and positive corporate governance action, aligning director incentives with long-term shareholder value, without indicating any significant operational or financial changes.

Positives

• The grant of DRSUs aligns the director's interests with shareholders, as the value is tied to the company's stock performance.
• The deferral of settlement until termination of board service indicates a long-term commitment from the director.

Future Outlook

The DRSUs will vest at the next annual shareholders meeting following the grant date, but no later than March 15 of the calendar year following the grant. Settlement is deferred until the director terminates service on the Board.

Management Comments

• This Form 4 reports the acquisition by the reporting person of DRSUs resulting from an annual grant to the registrant's non-executive directors.

Industry Context

StockSavvy.ai notes that equity grants to non-executive directors are a standard practice across the financial services industry, aligning director incentives with long-term shareholder value. This particular grant to a Raymond James Financial director reflects typical compensation structures for board service in publicly traded financial institutions.

Comparison to Industry Standards

• The grant of Deferred Restricted Stock Units (DRSUs) as part of director compensation is a common practice among U.S. financial services firms, similar to practices at companies like Morgan Stanley or Goldman Sachs, which often use equity-based awards to incentivize long-term commitment and align interests.
• The one-to-one conversion to common stock upon vesting is standard for such equity awards.
• The deferral of settlement until termination of board service is a robust corporate governance practice, promoting long-term stewardship, comparable to policies seen at well-governed companies across various sectors.

Corporate Governance

Related Party Transactions

• Grant of 1,303 Deferred Restricted Stock Units (DRSUs) to Director Mark W. Begor as part of his compensation for Board service.

Stakeholder Impact

• Shareholders: Positive impact as director compensation is tied to company performance, aligning interests.

Next Steps

• The DRSUs will vest at the next annual shareholders meeting following the grant date, but no later than March 15 of the calendar year following the grant.
• Settlement of the DRSUs will occur upon the reporting person's termination of service on the Board of Directors.

Key Dates

Recommendation

This Form 4 reports a routine equity grant to a director, which is a standard compensation practice and does not provide new information that would fundamentally alter the investment thesis for Raymond James Financial. It reinforces good corporate governance by aligning director interests with long-term shareholder value, but it's not a catalyst for a 'buy' or 'sell' decision.

Keywords

Raymond James Financial, RJF, Mark W. Begor, Form 4, SEC Filing, Deferred Restricted Stock Units, DRSUs, Director Compensation, Equity Grant, Insider Transaction