RAYMOND JAMES FINANCIAL INC
For the period ended Dec 31, 2023. Filed Feb 7, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Dec 31, 2023 · Filed Feb 7, 2024
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Item 1A. Risk Factors
Not applicable.
| RAYMOND JAMES FINANCIAL, INC. AND SUBSIDIARIES Management’s Discussion and Analysis | Index |
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We did not have any sales of unregistered securities for the three months ended December 31, 2023.
We purchase our own stock from time to time in conjunction with a number of activities, each of which is described in the following paragraphs. The following table presents information on our purchases of our own stock, on a monthly basis, for the three months ended December 31, 2023.
| Total number of sharespurchased | Average priceper share | Number of shares purchased as part of publicly announced plans or programs | Approximate dollar value (in millions) at each month-end of securities that may yet be purchased under the plans or programs | |
|---|---|---|---|---|
| October 1, 2023 – October 31, 2023 | 2,602 | $100.13 | — | $750 |
| November 1, 2023 – November 30, 2023 | 516,466 | $99.63 | 439,678 | $1,500 |
| December 1, 2023 – December 31, 2023 | 970,735 | $110.03 | 968,566 | $1,393 |
| First quarter | 1,489,803 | $106.40 | 1,408,244 |
In November 2023, the Board of Directors authorized repurchase of our common stock in an aggregate amount of up to $1.5 billion, which replaced the previous authorization.
In the preceding table, the total number of shares purchased includes shares purchased pursuant to the Restricted Stock Trust Fund, which was established to acquire our common stock in the open market and used to settle RSUs granted as a retention vehicle for certain employees of our wholly-owned Canadian subsidiaries. For more information on this trust fund, see Note 2 of the Notes to Consolidated Financial Statements of our 2023 Form 10-K and Note 9 of the Notes to Condensed Consolidated Financial Statements of this Form 10-Q. These activities do not utilize the repurchase authorization presented in the preceding table.
The total number of shares purchased also includes shares repurchased as a result of employees surrendering shares as payment for option exercises or withholding taxes. These activities do not utilize the repurchase authorization presented in the preceding table.
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