Form 4: Raymond James Officer Reports Stock Transactions

Raymond James Financial's Chief Administrative Officer, Bella Loykhter Allaire, reported the vesting of restricted stock units, related tax-driven stock dispositions, and new RSU grants.

Summary

• Bella Loykhter Allaire, Chief Administrative Officer of Raymond James Financial Inc. (RJF), reported multiple transactions on December 15, 2025.
• Acquired 3,287 shares and 3,264 shares of common stock upon the vesting of Restricted Stock Units (RSUs) at a price of $0.
• Disposed of 1,207, 1,217, and 1,574 shares of common stock, totaling 3,998 shares, at a price of $163.85 per share to cover tax liabilities related to the RSU vesting.
• Beneficially owns 83,137 shares of common stock directly following these transactions.
• Indirectly owns 1,251 shares of common stock through an Employee Stock Ownership Plan (ESOP) account as of December 10, 2025.
• Received new grants of 3,661 Restricted Stock Units (RSUs) and 3,357 RSUs as a portion of her annual bonus.
• The newly granted 3,661 RSUs will vest 60% on December 15, 2028, 20% on December 15, 2029, and 20% on December 15, 2030.
• The 3,357 RSUs granted as part of the annual bonus will vest on December 15, 2028.

Sentiment

Score: 6

Explanation: The filing is largely neutral from a company performance perspective, as it reports routine executive compensation transactions. The grants of new RSUs are a positive for executive retention and alignment, while the tax-related dispositions are a standard consequence of vesting. Overall, it reflects ongoing, expected compensation practices.

Positives

• Chief Administrative Officer Bella Loykhter Allaire received new grants of 3,661 and 3,357 Restricted Stock Units, indicating continued long-term incentive compensation.
• The vesting of 3,287 and 3,264 Restricted Stock Units represents a realization of previously awarded compensation.

Negatives

• Dispositions of 3,998 shares of common stock were made to cover tax liabilities, which reduces the officer's direct beneficial ownership.

Future Outlook

The grants of new Restricted Stock Units with vesting schedules extending to December 2030 indicate a long-term incentive structure for the Chief Administrative Officer, aligning her interests with the company's future performance.

Industry Context

This Form 4 filing reflects routine executive compensation practices within the financial services industry, where Restricted Stock Units are a common tool for long-term incentive alignment and retention of key personnel. The transactions are specific to an individual executive and do not inherently reflect broader industry trends or competitive positioning.

Related Party Transactions

• The grant of 3,661 Restricted Stock Units and 3,357 Restricted Stock Units to Chief Administrative Officer Bella Loykhter Allaire as part of her compensation package constitutes a related party transaction.

Stakeholder Impact

• Shareholders: The issuance of shares upon RSU vesting and new RSU grants represent a form of dilution, though typically accounted for in compensation plans. The alignment of executive incentives with long-term company performance through RSUs is generally viewed positively.
• Employees: The report highlights the company's use of equity-based compensation, which can be a positive for employee retention and motivation, particularly for key executives.

Next Steps

• Future vesting of 3,264 RSUs on December 15, 2026, and December 15, 2027.
• Future vesting of 3,661 RSUs on December 15, 2028, December 15, 2029, and December 15, 2030.
• Future vesting of 3,357 RSUs on December 15, 2028.

Key Dates

Keywords

Raymond James Financial, RJF, SEC Form 4, Insider Trading, Restricted Stock Units, RSU, Stock Vesting, Stock Grant, Executive Compensation, Bella Loykhter Allaire, Chief Admin Officer