Form 4: Raymond James Financial Inc. COO Sells Shares to Cover Tax Obligations

Raymond James Financial Inc.'s Chief Operating Officer, Scott A. Curtis, disposed of 1,160 shares to cover tax liabilities related to previously vested Performance RSUs.

Summary

• Scott A. Curtis, the Chief Operating Officer of Raymond James Financial Inc., sold 1,160 shares of common stock on January 2, 2025.
• The sale was executed at a price of $155.33 per share.
• This transaction was to cover tax obligations arising from the vesting of Performance Restricted Stock Units (RSUs).
• Following the transaction, Mr. Curtis directly owns 188,140 shares of common stock.
• He also indirectly owns 4,094 shares through an Employee Stock Ownership Plan (ESOP).

Sentiment

Score: 5

Explanation: The document reflects a routine transaction for tax purposes, with no indication of positive or negative sentiment.

Industry Context

This is a routine transaction for corporate executives to manage their tax liabilities related to equity compensation. It is common for executives to sell shares to cover taxes when RSUs vest.

Comparison to Industry Standards

• Executive stock sales to cover tax obligations are a common practice across the financial industry.
• Many executives at comparable firms such as Morgan Stanley, Goldman Sachs, and Charles Schwab regularly file similar Form 4 documents.
• The number of shares sold and the price are within the typical range for such transactions.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a routine sale for tax purposes.

Key Dates

Keywords

Raymond James Financial, Scott A. Curtis, Chief Operating Officer, stock sale, Form 4, insider trading, tax liability, Performance RSUs, ESOP