Form 4: Raymond James Officer Acquires Shares via Vesting

Raymond James Financial's Chief Administrative Officer, Bella Loykhter Allaire, acquired 4,256 shares of common stock through the vesting of performance-based restricted stock units.

Summary

• Bella Loykhter Allaire, Chief Administrative Officer of Raymond James Financial Inc. (RJF), acquired 4,256 shares of common stock.
• The acquisition occurred on December 2, 2025, and was a result of the vesting of Performance Restricted Stock Units (PRSUs).
• These PRSUs were originally granted on December 15, 2022, and vested based on the company's achievement of certain levels of average after-tax return-on-equity, modified by its relative total shareholder return compared to a peer group over a three-year measurement period.
• The transaction price for these shares was $0.0000, indicating they were received as part of compensation rather than purchased.
• Following this transaction, Bella Loykhter Allaire directly beneficially owns 80,584 shares of common stock.
• Additionally, 1,251 shares are indirectly beneficially owned through an Employee Stock Ownership Plan (ESOP) account, including shares acquired through November 24, 2025.

Sentiment

Score: 7

Explanation: The filing indicates positive sentiment as it reflects the successful vesting of performance-based compensation, suggesting the company met its performance targets. This aligns executive interests with shareholder value.

Positives

• The vesting of 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 acquisition of shares by a key executive, Bella Loykhter Allaire, aligns management's interests with those of shareholders.

Future Outlook

This filing does not contain any forward-looking statements or guidance regarding the company's future performance or strategic direction.

Management Comments

• The acquisition of common stock by the reporting person resulted from the vesting of Restricted Stock Units (RSUs) granted on December 15, 2022.
• The vesting was contingent upon the company attaining certain levels of average after-tax return-on-equity, as modified by the company's relative total shareholder return compared to a peer group, over a three-year measurement period.

Industry Context

This Form 4 filing reports a routine insider transaction related to executive compensation, which is a common practice across the financial services industry to align executive incentives with company performance and shareholder value. It does not provide broader industry trend analysis.

Stakeholder Impact

• Shareholders: The vesting of performance-based compensation for a key executive suggests that the company has met its performance targets, which is generally positive for shareholder value. It also indicates alignment between management and shareholder interests.
• Employees: The existence of an Employee Stock Ownership Plan (ESOP) indicates a broader program for employee ownership, which can foster engagement and alignment.

Key Dates

Keywords

Raymond James Financial, RJF, SEC Form 4, Insider Transaction, Stock Vesting, Restricted Stock Units, Performance Shares, Executive Compensation, Beneficial Ownership