AI English summary of an SEC filing — figures as filed
Raymond James Financial RJFThe company said it reported in a Form 8-K filed on December 9, 2024 that it would appoint President and director Paul M. Shoukry as Chief Executive Officer effective at the close of the Annual Shareholders Meeting on February 20, 2025. This 8-K/A adds Item 5.02 information that had not been determined at the time.
Key points
AI summaryThe company said it reported in a Form 8-K filed on December 9, 2024 that it would appoint President and director Paul M. Shoukry as Chief Executive Officer effective at the close of the Annual Shareholders Meeting on February 20, 2025. This 8-K/A adds Item 5.02 information that had not been determined at the time.
The company said on February 20, 2025 that its Compensation and Talent Committee approved raising Shoukry's 2025 annual base salary from $500,000 to $750,000 in connection with his CEO appointment, effective March 1, 2025.
The company said it will grant RSUs with an aggregate value of $5 million effective February 20, 2025. Of this, $2.5 million is time-vesting RSUs, which vest 60% on the 3rd anniversary of the grant date and 20% each on the 4th and 5th anniversaries. The remaining $2.5 million is performance-vesting RSUs.
The company said the PRSUs will vest on the 3rd anniversary of the grant date. Vesting will be between 50% and 150% of target, and only if average Adjusted ROE for fiscal years 2026 through 2028 over 3 years is at least 10%. The result will then be adjusted for relative total shareholder return ranking, ranging from a 20% decrease to a 20% increase.
Summary
AI-writtenAnalysis scope · Filing bodyWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.
CEO Appointment and Background of Amended Filing
The company said it reported in a Form 8-K filed on December 9, 2024 that it would appoint President and director Paul M. Shoukry as Chief Executive Officer effective at the close of the Annual Shareholders Meeting on February 20, 2025. This 8-K/A adds Item 5.02 information that had not been determined at the time.
Source · Based on the filing body and exhibits
Shoukry Base Salary Increase
The company said on February 20, 2025 that its Compensation and Talent Committee approved raising Shoukry's 2025 annual base salary from $500,000 to $750,000 in connection with his CEO appointment, effective March 1, 2025.
Source · Based on the filing body and exhibits
RSU Award Structure
The company said it will grant RSUs with an aggregate value of $5 million effective February 20, 2025. Of this, $2.5 million is time-vesting RSUs, which vest 60% on the 3rd anniversary of the grant date and 20% each on the 4th and 5th anniversaries. The remaining $2.5 million is performance-vesting RSUs.
Source · Based on the filing body and exhibits
PRSU Vesting Conditions
The company said the PRSUs will vest on the 3rd anniversary of the grant date. Vesting will be between 50% and 150% of target, and only if average Adjusted ROE for fiscal years 2026 through 2028 over 3 years is at least 10%. The result will then be adjusted for relative total shareholder return ranking, ranging from a 20% decrease to a 20% increase.
Source · Based on the filing body and exhibits
AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.
Original filing
The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.
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