Form 4: Bank of America Executive Dean Athanasia Settles Performance-Based Stock Units
SEC Form 4 Filing
Dean Athanasia, a Bank of America executive, settled performance-based restricted stock units, resulting in the acquisition and disposition of shares.
Summary
- On March 1, 2024, Dean Athanasia, President of Regional Banking at Bank of America, settled 98,544 performance-based restricted stock units, each representing a contingent right to receive one share of Bank of America common stock.
- The settlement resulted in the acquisition of 98,544 shares of common stock.
- A portion of the shares (47,701) were disposed of to cover tax withholding obligations at a price of $34.35 per share.
- Following these transactions, Athanasia directly owns 442,647 shares of Bank of America common stock.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing detailing stock transactions by a company executive. It doesn't inherently convey positive or negative sentiment.
Industry Context
Form 4 filings are standard disclosures required by the SEC when company insiders, like officers and directors, trade their company's stock. This filing indicates activity by a high-ranking executive at Bank of America.
Stakeholder Impact
- The transaction has a minor impact on shareholders as it involves the settlement of previously granted stock units.
Key Dates
| Date | Description |
|---|---|
| 02/12/2021 | Reporting person was granted units, subject to the Company's attainment of performance goals. |
| 01/01/2021 | Start date for performance goals based on three-year average return on assets and growth in adjusted tangible book value. |
| 12/31/2023 | End date for performance goals based on three-year average return on assets and growth in adjusted tangible book value. |
| 03/01/2024 | Transaction date: Settlement of performance restricted stock units and disposition of shares for tax withholding. |
| 03/05/2024 | Date of signature for the Form 4 filing. |
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