Esty Benjamin 4

What Happened

• Esty Benjamin, a member of the Board of Directors of Raymond James Financial Inc. (RJF), received a grant of 1,303 Deferred Restricted Stock Units (DRSUs) on February 19, 2026. The Form 4 reports an acquisition price of $0.00 because these were granted as compensation rather than purchased.
• This is an annual non-executive director equity grant (routine compensation), not an open-market buy or sale.

Key Details

• Transaction date: 2026-02-19; Form 4 filed 2026-02-23 (timely filing).
• Amount: 1,303 DRSUs; reported acquisition price $0.00.
• Post-transaction total shares/DSUs owned: not specified in the summary provided (see full filing for total beneficial ownership).
• Footnotes: F1 notes DRSUs convert 1-for-1 into common shares upon vesting and include accrued cash in lieu of dividends. Vesting occurs at the next annual shareholders meeting (or by March 15 of the next calendar year). Per an irrevocable election by the reporting person, settlement of vested DRSUs will be deferred until the director leaves board service. F2 simply states the reported units are DRSUs.
• Remarks: Filing indicates this is the routine annual grant to non-executive directors.

Context

• DRSUs are a deferred equity award: they don’t deliver shares immediately. On vesting they become the right to receive shares (plus dividend equivalent), but in this case Benjamin has elected to defer settlement until she leaves the board — so this grant does not increase immediately tradable shares.
• Such director grants are common compensation and generally reflect routine board pay rather than a trading signal.