Form 4: JPMorgan Chase CFO Jeremy Barnum Settles Performance Share Units
SEC Form 4 Filing
JPMorgan Chase's CFO, Jeremy Barnum, settled Performance Share Units (PSUs) for 29,632.5953 shares of common stock on March 25, 2025, while also disposing of 16,387.5953 shares to cover tax obligations.
Summary
- On March 25, 2025, Jeremy Barnum, the Chief Financial Officer of JPMorgan Chase & Co., settled Performance Share Units (PSUs) and acquired 29,632.5953 shares of JPM common stock.
- These shares were acquired upon the settlement of a PSU award granted on January 18, 2022, for a three-year performance period ending December 31, 2024.
- Barnum also disposed of 16,387.5953 shares of common stock at a price of $249.7224 per share.
- Following these transactions, Barnum directly owns 58,031 shares of JPMorgan Chase & Co. common stock.
- The acquired shares from the PSU settlement must be held for an additional two-year period, resulting in a total combined vesting and holding period of five years from the grant date.
Sentiment
Score: 7
Explanation: The sentiment is neutral to positive. The settlement of PSUs suggests the company met its performance goals, which is a positive indicator. The sale of shares to cover taxes is a normal part of equity compensation.
Positives
- The settlement of PSUs indicates that JPMorgan Chase achieved certain performance goals, benefiting an executive.
Future Outlook
The acquired shares from the PSU settlement must be held for an additional two-year period, resulting in a total combined vesting and holding period of five years from the grant date.
Industry Context
Executive compensation through equity-based awards like PSUs is a common practice in the financial industry to align management's interests with those of shareholders and incentivize long-term performance.
Stakeholder Impact
- The PSU settlement reflects the company's performance and could positively influence shareholder confidence.
Key Dates
| Date | Description |
|---|---|
| 01/18/2022 | Date of PSU award grant. |
| 12/31/2024 | End of the three-year performance period for the PSU award. |
| 03/20/2025 | Previous Form 4 filing date related to the PSU award. |
| 03/25/2025 | Date of PSU settlement and stock acquisition/disposition. |
| 03/27/2025 | Date of signature on the Form 4 filing. |
Keywords
JPMorgan Chase, Jeremy Barnum, CFO, Performance Share Units, PSU, Common Stock, SEC Form 4, Beneficial Ownership
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