Form 4: Bank of America Executive Kathleen A. Knox Reports Stock Transactions
SEC Form 4
Kathleen A. Knox, President of The Private Bank at Bank of America, reports the vesting and subsequent sale of performance-based restricted stock units to cover tax obligations.
Summary
- Kathleen A. Knox, President of The Private Bank at Bank of America, filed a Form 4 detailing changes in beneficial ownership of Bank of America (BAC) stock.
- On March 1, 2024, 46,483 performance-based restricted stock units vested and were converted into common stock.
- Also on March 1, 2024, 20,152 shares were disposed of to cover tax withholding obligations at a price of $34.35 per share.
- Following these transactions, Knox directly owns 287,454 shares of Bank of America common stock.
Sentiment
Score: 5
Explanation: This is a routine disclosure of stock transactions by a company executive. It doesn't inherently indicate positive or negative sentiment, but rather provides transparency into insider activity.
Industry Context
Form 4 filings are standard disclosures required by the SEC to provide transparency into the transactions of company insiders, allowing investors to monitor executive compensation and potential alignment with shareholder interests.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they reflect executive compensation and tax obligations.
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 the Company's three year average return on assets and one-half of the units have performance goals based on the Company's three year average growth in adjusted tangible book value. |
| 12/31/2023 | End date for performance goals based on the Company's three year average return on assets and one-half of the units have performance goals based on the Company's three year average growth in adjusted tangible book value. |
| 03/01/2024 | Performance Restricted Stock Units vested and converted to common stock; shares disposed of for tax withholding. |
| 03/05/2024 | Date of Form 4 signature. |
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