Form 4: Bank of America Director Pierre J.P. de Weck Reports Changes in Beneficial Ownership

Director Pierre J.P. de Weck reports acquisition of Bank of America shares as compensation and disposition for tax obligations.

Summary

• On April 24, 2024, Pierre J.P. de Weck, a director of Bank of America, acquired 7,045 shares of common stock as part of annual compensation under the Bank of America Corporation Equity Plan.
• The shares were acquired at a price of $0.
• On the same day, Mr. de Weck disposed of 1,405 shares at $38.32 per share to satisfy a tax withholding obligation.
• Following these transactions, Mr. de Weck beneficially owns 95,169 shares of Bank of America common stock.

Sentiment

Score: 7

Explanation: The sentiment is neutral as the filing reflects routine transactions related to director compensation and tax obligations. There are no indications of significant positive or negative events.

Positives

• The acquisition of shares as compensation aligns the director's interests with those of the shareholders.

Industry Context

This filing is a routine disclosure related to director compensation and tax obligations, common in publicly traded companies like Bank of America.

Comparison to Industry Standards

• Director compensation in the form of stock is a common practice among large financial institutions.
• The amount of shares acquired and disposed of is typical for directors at companies of Bank of America's size.
• Tax withholding obligations are standard for equity-based compensation.

Stakeholder Impact

• The transactions have a minimal direct impact on stakeholders as they are related to director compensation.

Key Dates