X0306 4 2018-11-28 0000720005 RAYMOND JAMES FINANCIAL INC RJF 0001182775 JAMES THOMAS A 880 CARILLON PARKWAY ST. PETERSBURG FL 33716 1 1 Chairman Emeritus Common Stock 2018-11-28 4 A 0 4884.0000 0.0000 A 12058438.0000 I By Thomas A. James Family Rev Trust Common Stock 33750.0000 I By James Ventures, Inc. Common Stock 662754.0000 I By Robert A. James Trust Common Stock 1000000.0000 I By TA James Ventures Partnership Common Stock 307.0000 I ESOP Common Stock 108087.0000 I Spouse Vesting of Performance Restricted Stock Units (PRSUs) granted on 12/15/2015. The reporting person is the trustee of the trust. The reporting person disclaims beneficial ownership of these securities, and this report shall not be deemed an admission that the reporting person is the beneficial owner of these securities for purposes of Section 16 or for any other purpose. Includes shares of common stock held in the reporting person's Employee Stock Ownership Plan (ESOP) account through November 28, 2018. This Form 4 reports the acquisition by the reporting person of common stock resulting from the vesting of Restricted Stock Units (RSUs) granted on 12/15/2015 based on the company's attaining certain levels of average after-tax return-on-equity over a three-year measurement period. /s/ Thomas A. James by Jonathan J. Doyle as Attorney-in-Fact 2018-11-30