Form 4: JPMorgan Chase Executive Troy Rohrbaugh Reports Stock Transactions Following PSU Settlement

Troy Rohrbaugh, Co-CEO of CIB at JPMorgan Chase, reports the acquisition and disposal of common stock following the settlement of Performance Share Units (PSUs).

Summary

• On March 25, 2025, Troy Rohrbaugh, Co-CEO of CIB at JPMorgan Chase, reported transactions involving JPMorgan Chase & Co. common stock.
• These transactions are related to the settlement of Performance Share Units (PSUs) awarded on January 18, 2022, for a three-year performance period ending December 31, 2024.
• Rohrbaugh acquired 67,664.0501 shares of common stock upon the settlement of the PSUs.
• Simultaneously, 37,419.0501 shares were disposed of to cover tax obligations at a price of $249.7224 per share.
• Following these transactions, Rohrbaugh directly owns 163,626 shares of common stock and indirectly owns 90.6802 shares through a 401(k) account.
• 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 slightly positive. The vesting of PSUs suggests the company met performance goals. The transactions themselves are routine and expected.

Positives

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

Future Outlook

The acquired shares are subject to an additional two-year holding period, indicating a continued alignment of the executive's interests with the company's long-term performance.

Industry Context

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

Comparison to Industry Standards

• Performance Share Units (PSUs) are a common form of executive compensation in the financial services industry, used by companies like Goldman Sachs, Morgan Stanley, and Citigroup to incentivize long-term performance.
• The vesting and holding periods associated with PSUs are generally in line with industry standards, aiming to align executive interests with long-term shareholder value.
• Tax-related disposals of shares upon vesting are a standard practice across the industry.

Stakeholder Impact

• The transactions reflect the executive's compensation structure and alignment with company performance, which can influence shareholder confidence.
• The additional holding period for the acquired shares reinforces the executive's commitment to the company's long-term success.

Key Dates

Keywords

JPMorgan Chase, Troy Rohrbaugh, Performance Share Units, PSU, Common Stock, Beneficial Ownership, Form 4, CIB, Executive Compensation