Form 4: Sharon L. Allen Reports Acquisition of Phantom Stock in Bank of America Corp.

Director Sharon L. Allen reports acquisition of phantom stock units in Bank of America Corporation as part of director compensation.

Summary

• Sharon L. Allen, a director of Bank of America Corp, filed a Form 4 on April 24, 2025, reporting a transaction.
• The transaction involved the acquisition of phantom stock units as part of annual director compensation.
• Allen acquired 7,306.89 phantom stock units on April 22, 2025, at a price of $0 per unit.
• These units were acquired under the Bank of America Corporation Director Deferral Plan and are exempt under Rule 16b-3.
• The phantom stock units may be settled in cash upon death or termination of service as a director.
• Allen also reported owning 99,927 shares of common stock directly.
• The total number of phantom stock units beneficially owned following the reported transaction is 39,129.4, which includes 592.77 units acquired through dividend reinvestment.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive as it reflects standard director compensation practices and aligns director interests with the company's performance. There are no indications of negative events or concerns.

Positives

• The acquisition of phantom stock units reflects ongoing director compensation, aligning director interests with the company's performance.
• The director deferral plan allows for the deferral of compensation, potentially offering tax advantages to the director.

Future Outlook

The phantom stock units may be settled in cash upon death or termination of service as a director.

Industry Context

Form 4 filings are routine disclosures for corporate insiders and provide transparency into their transactions in the company's securities. This filing reflects standard compensation practices for directors at large corporations like Bank of America.

Comparison to Industry Standards

• Director compensation packages often include a mix of cash, stock options, and restricted stock units.
• Phantom stock units are a common form of deferred compensation, similar to those offered by companies like JP Morgan Chase and Citigroup.
• The specific amount of phantom stock awarded varies based on company size, performance, and individual director roles.

Stakeholder Impact

• The transaction has a minimal direct impact on shareholders, employees, customers, suppliers, and creditors as it relates to director compensation.

Key Dates

Keywords

Form 4, Bank of America, Director Compensation, Phantom Stock, Sharon L. Allen, BAC