MCDANIEL RAYMOND W 4

What Happened Raymond W. McDaniel, a director of Raymond James Financial Inc. (RJF), was granted 1,303 Deferred Restricted Stock Units (DRSUs) on February 19, 2026. The units were awarded at $0.00 per share (total reported value $0) as part of the company’s director compensation. This is an award/grant (not a purchase or sale) and represents compensation rather than an open-market investment.

Key Details

• Transaction date: 2026-02-19; Grant type: Award/Grant (code A).
• Quantity and price: 1,303 DRSUs at $0.00 (reported value $0).
• Shares owned after transaction: Not specified on this Form 4 (the grant is in the form of DRSUs, not immediate shares).
• Filing: Form 4 filed 2026-02-23 reporting the Feb 19 grant (appears timely).
• Footnotes: F1/F2 indicate these are DRSUs that convert 1:1 to common shares upon vesting and include accrued cash in lieu of dividends. DRSUs vest at the next annual shareholders meeting (or by March 15 of the following year) and, per an irrevocable election by Mr. McDaniel, settlement will be deferred until he leaves the Board.

Context DRSUs are a common form of non-executive director compensation and do not represent immediate share ownership until vested/settled. Such awards are routine and primarily reflect governance compensation practices rather than a direct bullish or bearish trading signal.