Form 4: Bank of America Executive Matthew M. Koder Reports Stock Transactions
SEC Form 4 Filing
Matthew M. Koder, a Bank of America executive, reported the vesting of restricted stock units and subsequent stock transactions on June 1, 2024.
Summary
- On June 1, 2024, Matthew M. Koder, President, Global Corporate & Investment Banking at Bank of America, reported transactions involving Bank of America common stock.
- Koder vested 50,000 restricted stock units, each representing a contingent right to receive one share of Bank of America common stock.
- Simultaneously, Koder disposed of 7,237 shares to satisfy tax withholding obligations at a price of $39.99 per share.
- Following these transactions, Koder directly owns 590,415 shares of Bank of America common stock.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing detailing stock transactions by an executive, with no inherent positive or negative implications.
Industry Context
Form 4 filings are standard practice and provide transparency into the transactions of company insiders, allowing investors to track 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 |
|---|---|
| 06/01/2021 | Reporting person was granted units, vesting in three equal annual installments commencing on June 1, 2022. |
| 06/01/2022 | First vesting date of restricted stock units granted on June 1, 2021. |
| 06/01/2024 | Date of reported transactions: vesting of restricted stock units and disposition of shares for tax withholding. |
| 06/04/2024 | Date of signature on the Form 4 filing. |
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