Form 4: Bank of America Chief Risk Officer Reports Stock Transactions
SEC Form 4 Filing
Geoffrey S. Greener, Chief Risk Officer of Bank of America, reports the vesting and subsequent tax-related disposition of restricted stock units.
Summary
- On February 15, 2025, Geoffrey S. Greener, the Chief Risk Officer of Bank of America, reported transactions involving Bank of America common stock.
- These transactions included the vesting of restricted stock units (RSUs) granted in 2021, 2022, 2023 and 2024.
- The vesting of these RSUs resulted in the acquisition of common stock.
- Simultaneously, a portion of the acquired shares was disposed of to cover tax withholding obligations at a price of $46.96 per share.
- After these transactions, Greener's indirectly held beneficial ownership of Bank of America common stock through a revocable trust is 1,340,017 shares.
Sentiment
Score: 7
Explanation: The document reflects routine executive compensation transactions. There is nothing inherently positive or negative, but the continued vesting of stock suggests ongoing alignment of executive interests with shareholder value.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common among publicly traded companies. It provides transparency into the transactions of company insiders.
Comparison to Industry Standards
- Executive compensation packages including restricted stock units are standard practice among large financial institutions like Bank of America.
- The vesting schedules and tax-related dispositions are typical components of these compensation plans.
- Comparable companies such as JP Morgan Chase, Citigroup, and Wells Fargo also regularly report similar transactions by their executives.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they relate to executive compensation and do not represent a significant change in the company's financial position.
- Employees who are also granted RSUs may see this as a standard part of the company's compensation practices.
Key Dates
| Date | Description |
|---|---|
| 02/12/2021 | Reporting person was granted units, vesting in four equal annual installments commencing on February 15, 2022. |
| 02/15/2022 | Reporting person was granted units, vesting in four equal annual installments commencing on February 15, 2023. |
| 02/15/2022 | Reporting person was granted units, vesting in two equal annual installments commencing on February 15, 2025. |
| 02/15/2023 | Reporting person was granted units, vesting in four equal annual installments commencing on February 15, 2024. |
| 02/15/2024 | Reporting person was granted units, vesting in shares in four equal annual installments commencing on February 15, 2025. |
| 02/15/2024 | Reporting person was granted units, vesting in cash in four equal annual installments commencing on February 15, 2025. |
| 02/15/2025 | Date of earliest transaction; vesting of restricted stock units and disposition of shares for tax obligations. |
| 02/19/2025 | Date of signature on the report. |
Keywords
Form 4, Beneficial Ownership, Restricted Stock Units, Chief Risk Officer, Geoffrey S. Greener, Bank of America, BAC, Stock Transactions
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