X0306 4 2019-12-13 0000720005 RAYMOND JAMES FINANCIAL INC RJF 0001541020 Dowdle Jeffrey A 880 CARILLON PARKWAY ST. PETERSBURG FL 33716 1 COO & Head of Asset Mgmt. Common Stock 2019-12-15 4 M 0 1793.0000 0 A 48033.0000 D Common Stock 2019-12-15 4 F 0 705.0000 90.8800 D 47328.0000 D Common Stock 8253.0000 I ESOP Common Stock 1500.0000 I UTMA Custodian for Daughter EC Common Stock 1500.0000 I UTMA Custodian for Son GT Restricted Stock Units 2019-12-13 4 A 0 2404.0000 0.0000 A 2022-12-13 2022-12-13 Common Stock 2404.0000 2404.0000 D Restricted Stock Units 2019-12-15 4 M 0 1793.0000 0.0000 D 2019-12-15 2019-12-15 Common Stock 1793.0000 0.0000 D Each Restricted Stock Unit (RSU) represents a contingent right to receive, upon vesting of the award: (i) one share of common stock, and (ii) accrued cash in lieu of dividends. Includes 280 shares of common stock acquired on December 3, 2019 pursuant to the registrant's Employee Stock Purchase Plan. Includes shares of common stock acquired under the reporting person's Employee Stock Ownership Plan (ESOP) account through December 12, 2019. The reporting person disclaims beneficial ownership of these securities, and the filing of this report is not an admission that the reporting person is the beneficial owner of these securities for purposes of Section 16 or for any other purpose. Award of RSUs as a portion of annual bonus under Amended and Restated 2012 Stock Incentive Plan. This Form 4 reports (i) a grant of RSUs under the issuer's Amended and Restated 2012 Stock Incentive Plan as a portion of the annual bonus to the reporting person, (ii) the vesting of RSUs awarded to the reporting person on December 15, 2016, and (iii) a disposition by the reporting person to the issuer to cover tax liability in connection with such vesting. /s/ Jeffrey A. Dowdle by Jonathan J. Doyle as Attorney-in-Fact 2019-12-17