Form 4: Raymond James EVP's RSU Vesting & Tax Sales

Raymond James Financial's EVP of Technology & Operations, Vincent Campagnoli, reported the vesting of restricted stock units and subsequent share dispositions to cover tax obligations.

Summary

• Vincent Campagnoli, EVP, Technology & Operations at Raymond James Financial Inc., reported multiple transactions related to Restricted Stock Units (RSUs).
• On November 30, 2025, 2,220, 1,200, and 815 shares of common stock were acquired through the vesting of RSUs, with a deemed acquisition price of $0.
• On the same date, 191, 283, and 522 shares were disposed of at $156.54 per share to cover tax liabilities associated with the RSU vesting.
• On December 2, 2025, an additional 4,662 shares of common stock were acquired through RSU vesting at a deemed acquisition price of $0.
• Concurrently on December 2, 2025, 1,443 shares were disposed of at $155.83 per share to satisfy tax obligations.
• Following these transactions, Campagnoli directly beneficially owns 32,745 shares of common stock and indirectly owns 1,202 shares through an Employee Stock Ownership Plan (ESOP) as of November 24, 2025.

Sentiment

Score: 6

Explanation: The filing reports routine executive compensation events (RSU vesting) which are positive for the executive, balanced by standard share dispositions for tax purposes. It does not indicate any significant operational or financial news for the company itself.

Positives

• Vincent Campagnoli received a significant number of shares (totaling 8,897 shares) through the vesting of Restricted Stock Units, increasing his direct beneficial ownership.
• The vesting of RSUs represents a realization of compensation for the executive.

Negatives

• A total of 2,439 shares were disposed of to cover tax liabilities, reducing the net shares received from vesting.

Future Outlook

Portions of previously awarded Restricted Stock Units are scheduled to vest on November 30, 2026, and November 30, 2027.

Industry Context

This is a routine insider transaction report, common for executives receiving equity compensation. It reflects standard compensation practices within the financial services industry where equity awards are a significant component of executive pay.

Stakeholder Impact

• Shareholders: Minimal direct impact as these are routine compensation events and do not reflect new strategic or operational developments. The slight increase in shares outstanding from vesting is offset by tax sales.
• Employees: Reflects standard executive compensation practices, which can influence broader employee compensation structures and morale.
• Executive (Vincent Campagnoli): Positive impact due to the realization of equity compensation, increasing personal wealth and alignment with shareholder interests.

Next Steps

• Future tranches of Restricted Stock Units are scheduled to vest on November 30, 2026.
• Further tranches of Restricted Stock Units are scheduled to vest on November 30, 2027.

Key Dates

Keywords

Raymond James Financial, RJF, Vincent Campagnoli, Form 4, SEC filing, insider transaction, RSU vesting, restricted stock units, executive compensation, share disposition, tax withholding, beneficial ownership