A Directed Share Program allows the issuing company in an equity offering the opportunity to reserve and distribute a portion of the shares to individuals with a relationship to the company (officers, directors, family members, employees and other strategic relationships). Including a DSP in the offering provides another channel for distribution while rewarding those closest to the company with access that is typically hard to obtain otherwise. Our team has coordinated numerous DSPs and our efforts allow management to focus on executing the offering while we ensure a successful experience for participants.

At-the-market (“ATM”) offerings enable an issuer to sell primary shares to the public at prevailing market prices in order to raise capital on an as-needed basis. Unlike traditional offerings, ATMs provide control over the timing and amount of capital raised, allowing the issuer to increase or limit sales during periods of stock price strength or weakness. Raymond James customizes each ATM execution to meet the issuer’s needs promptly and efficiently.

Our team is available to assist with the sale of large blocks of stock for company insiders or other shareholders. Raymond James’ access to dark pools, algorithms, and electronic trading systems allows our team to source a variety of liquidity pools. In addition, our institutional intelligence systems quickly determine which institutional accounts have indicated a recent interest to buy, sell, or hold a stock at any given time. Transactions can be executed via dribble-out, block or bought methods.

Rule 10b5-1 allows insiders to enter a trading plan while in an open window and not in possession of material nonpublic information, providing a regulatory safe harbor against insider trading claims. The Executive Compensation Services team has extensive experience with designing and executing successful 10b5-1 plans around each individual’s specific objectives and price targets. The Executive Compensation Services team can also provide continuing education to company employees and management about evolving 10b5-1 best practices.

Companies can purchase shares in their stock under the Rule 10b-18 safe harbor. This strategy is often used to create earnings accretion, offset dilution from equity compensation awards, or serve as another means for returning capital to shareholders. Raymond James executes share repurchases for companies spanning the market capitalization and liquidity spectrum. Repurchases can be done tactically while in open trading windows or through a predetermined formula through a 10b5-1 plan.

Companies with excess balance sheet cash often seek ways to earn a risk adjusted return while meeting ongoing liquidity needs. Our team of cash management experts consult through the entire cash management process. We are available to analyze the company’s cash goals and needs to aid in developing a corporate investment policy and identify the appropriate investment products. Raymond James has access to a wide array of cash investment strategies and provides product neutral recommendations along with ongoing portfolio monitoring.