Form 4: BAC CFO Alastair Borthwick Boosts Stake

Bank of America's CFO, Alastair Borthwick, increased his direct beneficial ownership of common stock by 39,743 shares following RSU conversions and tax-related dispositions.

Summary

• Alastair M. Borthwick, Executive Vice President & CFO of Bank of America Corp (BAC), reported transactions on February 15, 2026.
• Acquired a total of 116,948 shares of common stock through the conversion of various Restricted Stock Units (RSUs).
• Disposed of 77,205 shares of common stock, which included 49,175 shares to satisfy tax withholding obligations at a price of $52.55 per share.
• Additionally, 28,030 shares were directly disposed of at a price of $52.55 per share.
• The net effect of these reported transactions resulted in an increase of 39,743 shares in his direct beneficial ownership of common stock.
• Following these transactions, Borthwick directly beneficially owns 427,843 shares of Bank of America common stock.
• He also holds 159,003 derivative securities (Restricted Stock Units) that are yet to vest.

Sentiment

Score: 7

Explanation: StockSavvy.ai views this as a moderately positive signal. The net increase in the CFO's direct ownership, driven by RSU conversions, suggests continued confidence in Bank of America's long-term performance, despite some share sales.

Positives

• CFO Alastair Borthwick increased his direct beneficial ownership of Bank of America common stock by a net of 39,743 shares.
• The acquisition of shares through RSU conversions demonstrates continued long-term incentive alignment with shareholder interests.
• Significant remaining RSU holdings of 159,003 units indicate future potential share acquisitions and continued executive commitment to the company's equity.

Negatives

• A total of 77,205 shares were disposed of, including 28,030 shares through direct sales not solely for tax purposes, at a price of $52.55 per share.

Future Outlook

NA

Industry Context

StockSavvy.ai notes that insider transactions, particularly by high-ranking executives like a CFO, are closely watched by the market as they can signal management's confidence in the company's future prospects. While RSU conversions are part of standard compensation, the net increase in direct ownership, even with some sales, generally reflects a positive alignment with long-term value creation, common among major financial institutions.

Related Party Transactions

• The RSU grants and subsequent conversions are part of the executive compensation structure, representing transactions between the company and its executive.

Stakeholder Impact

• Shareholders: Increased insider ownership can be viewed positively, signaling management's alignment with shareholder interests and confidence in the company's future.
• Employees: The RSU program is a key component of executive compensation, influencing retention and motivation of key personnel.

Next Steps

• Future vesting of remaining 159,003 Restricted Stock Units.

Key Dates

Recommendation

While the net increase in the CFO's direct ownership is a positive indicator of insider confidence, a Form 4 primarily reports compensation-related transactions. It does not provide new fundamental financial data or strategic shifts that would warrant a change from a 'hold' position. The transactions reflect routine vesting and some sales, which are common for executive compensation.

Keywords

Bank of America, BAC, Alastair Borthwick, CFO, Insider Trading, Form 4, Restricted Stock Units, RSU, Share Ownership, Executive Compensation, Financial Services