Form 4: Bank of America CEO Brian Moynihan Reports Stock Transactions

Brian Moynihan, Bank of America's CEO, reports the vesting and disposal of restricted stock units and adjustments to holdings in a 401(k) plan.

Summary

• On April 15, 2024, Brian Moynihan, the Chair and CEO of Bank of America, reported transactions involving Bank of America common stock.
• He disposed of 20,683 shares of common stock at a price of $35.95 per share.
• These shares were obtained through the vesting of cash-settled restricted stock units.
• Moynihan's direct holdings of common stock after the transaction amount to 2,552,927 shares.
• He also indirectly owns 3,436.246 shares through a 401(k) plan and 100,000 shares by trust.
• The share equivalents in his 401(k) plan decreased by 3.305 shares due to changes in the Net Asset Value (NAV) of the issuer's stock fund, offset by dividend reinvestments.
• The reporting person was granted units, vesting and payable solely in cash as follows: 1/12th of the stock units vest and become payable on the 15th day of each month during the 12-month period beginning in March 2024 and ending in February 2025.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing reporting stock transactions by an insider, and does not inherently convey positive or negative sentiment.

Future Outlook

The reporting person was granted units, vesting and payable solely in cash as follows: 1/12th of the stock units vest and become payable on the 15th day of each month during the 12-month period beginning in March 2024 and ending in February 2025.

Industry Context

This Form 4 filing is a routine disclosure required by the SEC when corporate insiders, like the CEO, trade their company's stock. It provides transparency to the market regarding the actions of those with access to inside information.

Stakeholder Impact

• The transactions have a minimal direct impact on stakeholders, as they represent routine executive compensation and portfolio adjustments.

Key Dates