Form 4: JPMorgan Chase Executive Marianne Lake Settles Performance Share Units, Reports Transactions

Marianne Lake, CEO of CCB at JPMorgan Chase, reports the settlement of Performance Share Units (PSUs) and related transactions involving common stock and family trusts.

Summary

• Marianne Lake, CEO of CCB at JPMorgan Chase & Co, reported transactions related to the settlement of Performance Share Units (PSUs) and stock transfers.
• On March 25, 2025, Lake acquired 50,150.9413 shares of JPM common stock upon settlement of PSUs at a price of $0.
• Simultaneously, 25,602.9413 shares were disposed of for tax withholding purposes at a price of $249.7224.
• Following these transactions, Lake directly owns 141,388 shares of common stock.
• Lake also indirectly owns 34,693 shares through a Family Trust and 77,964 shares through GRATs.
• The PSUs were granted on January 18, 2022, for a three-year performance period ending December 31, 2024, and require an additional two-year holding period after vesting.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive. The settlement of PSUs suggests the company met its performance goals. The tax withholding is a normal part of the process. The additional holding period shows commitment.

Positives

• The settlement of PSUs indicates that JPMorgan Chase met pre-established performance goals for the three-year period ending December 31, 2024.

Negatives

• The disposal of shares for tax withholding resulted in a decrease in the directly held shares.

Future Outlook

The shares acquired through PSU settlement are subject to an additional two-year holding period, indicating a long-term commitment to the company.

Industry Context

Executive compensation in the financial industry often includes performance-based equity awards like PSUs to align management's interests with those of shareholders.

Comparison to Industry Standards

• Performance Share Units (PSUs) are a common component of executive compensation packages in large financial institutions like JPMorgan Chase.
• Companies such as Goldman Sachs, Morgan Stanley, and Citigroup also utilize PSUs to incentivize executives based on the achievement of pre-defined performance metrics.
• The vesting and holding periods associated with these awards are designed to ensure long-term alignment with shareholder value, typically ranging from three to five years, similar to the terms described in this document.

Stakeholder Impact

• The PSU settlement reflects positively on the company's performance, potentially benefiting shareholders.
• The executive's continued holding of shares aligns her interests with those of the shareholders.

Key Dates

Keywords

JPMorgan Chase, Marianne Lake, Performance Share Units, PSU, Common Stock, Beneficial Ownership, Form 4, SEC, CCB, Grantor Retained Annuity Trust, GRAT