Form 4: JPMorgan Chase Executive Mary E. Erdoes Reports Stock Transactions Following PSU Settlement

Mary E. Erdoes, CEO of Asset & Wealth Management at JPMorgan Chase, reports the acquisition and disposal of JPM common stock and performance share units (PSUs) following the settlement of a PSU award.

Summary

• On March 25, 2025, Mary E. Erdoes acquired 62,888.0314 shares of JPMorgan Chase common stock upon the settlement of a Performance Share Unit (PSU) award.
• These PSUs were granted on January 18, 2022, for the three-year performance period ending December 31, 2024.
• Simultaneously, 34,777.0314 shares were disposed of to cover tax obligations at a price of $249.7224 per share.
• Following these transactions, Erdoes directly owns 622,465 shares of JPM common stock.
• The acquired shares from the PSU settlement are subject to an additional two-year holding 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 PSU settlement indicates the company met its performance goals, and the executive's continued stock ownership is a positive sign. However, the filing itself is a routine disclosure.

Positives

• The settlement of PSUs indicates that JPMorgan Chase achieved its pre-established performance goals for the three-year period ending December 31, 2024.
• Mary E. Erdoes' continued direct ownership of a significant number of shares (622,465) demonstrates her alignment with the company's long-term success.

Future Outlook

The acquired shares from the PSU settlement are subject to an additional two-year holding period, resulting in a total combined vesting and holding period of five years from the grant date.

Industry Context

Executive stock transactions are a common occurrence in publicly traded companies and are often tied to performance-based compensation plans like PSUs. These transactions provide insights into executive sentiment and alignment with company performance.

Comparison to Industry Standards

• Performance Share Units (PSUs) are a common form of executive compensation in the financial services industry, aligning executive incentives with long-term company performance.
• The vesting and holding periods associated with PSUs, such as the five-year period described in the document, are typical for ensuring executives remain invested in the company's success.
• Comparable companies like Goldman Sachs (GS) and Morgan Stanley (MS) also utilize similar equity-based compensation plans for their executives.

Stakeholder Impact

• The PSU settlement reflects positively on the company's performance, which benefits shareholders.
• Executive stock ownership aligns management's interests with those of shareholders.

Key Dates

Keywords

JPMorgan Chase, Mary E. Erdoes, PSU, Performance Share Units, Stock, Form 4, Beneficial Ownership, JPM