Jefferies CEO Rich Handler Sells 1.5 Million Shares of Stock

Rhea-AI Summary

Jefferies Financial Group Inc. CEO, Rich Handler, sells 1.5 million shares of JEF stock at $43.50 to buy a personal boat and pay taxes. He retains 19.25 million shares, showing confidence in the company. Handler emphasizes commitment to Jefferies' growth and remains optimistic about its future.

NEW YORK--(BUSINESS WIRE)-- Jefferies Financial Group Inc. (NYSE: JEF) announced that its Chief Executive Officer, Rich Handler, sold 1.5 million shares of Jefferies stock today at $43.50. The sale was made to facilitate the purchase of a personal boat and to pay tax obligations. For the 34 years since joining Jefferies in 1990, Mr. Handler has received approximately 70% of his compensation in the form of Jefferies shares and, except for tax purposes and charitable donations, has never sold shares. Following this sale, Mr. Handler owns on a fully diluted basis approximately 19.25 million Jefferies shares. Today’s sale represents approximately 7% of Mr. Handler’s aggregate holdings.

Mr. Handler stated: “My sale of shares today was a gift to myself and my family, and I do not intend to sell any further shares. I remain extremely bullish on Jefferies and fully committed to helping us continue to build the best independent, global and full service investment banking firm.”

About Jefferies Financial Group Inc.

Jefferies is a leading, global, full-service investment banking and capital markets firm. With more than 40 offices in 21 countries around the world, we offer insights and expertise to investors, companies and governments.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include statements about our future and statements that are not historical facts. These forward‐looking statements are typically identified by such words as “believe,” “expect,” “anticipate,” “may,” “intend,” “outlook,” “will,” “estimate,” “forecast,” “project,” “should,” and other similar words and expressions, and are subject to numerous assumptions, risks, and uncertainties, which will change over time. Forward-looking statements may contain beliefs, goals, intentions and expectations regarding revenues, earnings, operations, arrangements and other results, and may include statements of future performance, plans, and objectives. Forward-looking statements also include statements pertaining to our strategies for future development of our businesses and products, including Jefferies and SMBC Group’s strategic alliance. In particular, forward-looking statements include statements about the potential benefits of the collaboration with SMBC Group and SMBC’s intention to increase its equity investment in Jefferies, as SMBC is under no obligation to do so. Forward‐looking statements speak only as of the date they are made; we do not assume any duty, and do not undertake, to update any forward‐looking statements. Furthermore, because forward‐looking statements represent only our belief regarding future events, many of which by their nature are inherently uncertain, the actual results or outcomes may differ, possibly materially, from the anticipated results or outcomes indicated in these forward-looking statements. Information regarding important factors, including Risk Factors that could cause actual results or outcomes to differ, perhaps materially, from those in our forward-looking statements is contained in reports we file with the SEC. You should read and interpret any forward-looking statement together with reports we file with the SEC. Past performance may not be indicative of future results. Different types of investments involve varying degrees of risk. Therefore, it should not be assumed that future performance of any specific investment or investment strategy will be profitable or equal the corresponding indicated performance level(s).

View source version on businesswire.com: https://www.businesswire.com/news/home/20240424797155/en/

Media Contact:

Jonathan Freedman

(212) 284 - 2300

MediaContact@Jefferies.com

Source: Jefferies Financial Group Inc.

FAQ

Why did Jefferies CEO, Rich Handler, sell 1.5 million shares of JEF stock?

Jefferies CEO, Rich Handler, sold 1.5 million shares of JEF stock at $43.50 to purchase a personal boat and fulfill tax obligations.

How many shares does Rich Handler own in Jefferies after the sale?

After the sale, Rich Handler owns approximately 19.25 million Jefferies shares on a fully diluted basis.

What percentage of Rich Handler's holdings does the sale represent?

Today's sale represents approximately 7% of Mr. Handler's aggregate holdings.

What is Rich Handler's stance on Jefferies' future?

Rich Handler remains extremely bullish on Jefferies and is fully committed to helping the company continue to grow as the best independent, global, and full-service investment banking firm.