Seshadri Raj 4

What Happened

• Seshadri Raj, a member of the Raymond James Financial (RJF) Board of Directors, was granted 1,303 Deferred Restricted Stock Units (DRSUs) on Feb 19, 2026. The reported acquisition price is $0.00 because this was a compensation award, not an open-market purchase.
• Each DRSU converts one-for-one into a share of common stock upon vesting and includes accrued cash in lieu of dividends. The units vest at the next annual shareholders’ meeting (no later than March 15 of the calendar year following the grant). Per the reporting person’s irrevocable election, settlement will be deferred until the fifth anniversary of the vest date.

Key Details

• Transaction date: 2026-02-19; Transaction code: A (award/grant); Amount: 1,303 DRSUs; Reported price: $0.00.
• Shares owned after transaction: not specified in the provided filing summary.
• Footnotes: F1 explains conversion of DRSUs to common stock at vesting and five-year deferred settlement election; F2 indicates the holding balance includes DRSUs.
• Filing timeliness: Reported on Form 4 filed 2026-02-23. The filing appears timely (filed within the required two business days after the transaction date).

Context

• This was a routine board compensation grant (award), not a purchase or sale — such grants are common for non-executive directors and do not necessarily signal a personal market view.
• For retail investors: awards convert to actual shares only at vesting and will not be delivered until the deferred settlement date per the director’s election, so there is no immediate change in circulating shares.