Form 4: Director Michael D. White Acquires BAC Phantom Stock

Bank of America Director Michael D. White acquired 5,365.01 phantom stock units as part of annual director compensation.

Summary

• Director Michael D. White acquired 5,365.01 phantom stock units on May 4, 2026.
• The acquisition represents payment of annual compensation for services as a director under the Bank of America Corporation Director Deferral Plan.
• Each phantom stock unit is the economic equivalent of one share of Bank of America common stock.
• Following this transaction, the director holds a total of 103,942.38 phantom stock units.
• The director maintains direct ownership of 79,150 shares of common stock and indirect ownership of 6,500 shares via an IRA.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a routine administrative filing regarding director compensation with no material impact on company operations or strategy.

Positives

• Director compensation is aligned with shareholder interests through the acquisition of equity-linked instruments.

Negatives

• None identified.

Risks

• Phantom stock units are subject to the performance of Bank of America common stock.
• Settlement of phantom stock units is deferred until death or termination of service as a director.

Future Outlook

The filing does not provide forward-looking financial guidance for the company.

Industry Context

StockSavvy.ai notes that director compensation via deferred stock plans is a standard corporate governance practice among major financial institutions to ensure long-term alignment between board members and shareholders.

Comparison to Industry Standards

• The use of Director Deferral Plans is consistent with compensation structures at peer institutions like JPMorgan Chase and Citigroup.

Corporate Governance

Stakeholder Impact

• Minimal impact on shareholders as this is a standard compensation event.

Next Steps

• None mentioned.

Key Dates

Keywords

Bank of America, BAC, Director Compensation, Insider Trading, Form 4, Phantom Stock