Form 4: JPMorgan General Counsel Converts RSUs

JPMorgan Chase General Counsel Stacey Friedman converted Restricted Stock Units into common stock and sold shares for tax withholding on January 13, 2026.

Summary

• Stacey Friedman, General Counsel of JPMorgan Chase & Co., converted 15,227 Restricted Stock Units (RSUs) into common stock on January 13, 2026.
• An additional 14,215 RSUs were converted into common stock on the same date.
• A total of 15,826 shares of common stock were disposed of at a price of $318.715 per share to cover tax obligations related to the RSU vesting.
• Following these transactions, Friedman directly owns 50,136 shares of common stock.
• Indirect beneficial ownership includes 68,757 shares via a Grantor Retained Annuity Trust (GRAT) and 13,604 shares via a separate Trust.

Sentiment

Score: 7

Explanation: The filing reflects a routine and expected executive compensation event, indicating stability in the company's compensation structure and continued executive ownership. The disposition of shares is for tax purposes, not a discretionary sale, which is generally viewed neutrally to positively.

Positives

• Successful vesting and conversion of Restricted Stock Units into common stock, indicating a scheduled compensation event.
• Continued significant direct and indirect beneficial ownership in JPMorgan Chase & Co. by a key executive.

Negatives

• Disposition of 15,826 shares of common stock, though this was for tax withholding purposes and not a discretionary sale.

Future Outlook

The filing primarily reports past transactions related to executive compensation and does not contain forward-looking statements or guidance regarding the company's future performance.

Industry Context

This is a routine insider transaction for a senior executive at a major financial institution, reflecting standard compensation practices involving equity awards. Such transactions are common across the financial services industry as part of executive incentive plans.

Stakeholder Impact

• Shareholders: Minor, routine adjustment to insider ownership, reflecting standard executive compensation practices.
• Employees: Reinforces the company's equity compensation structure for executives.

Next Steps

• The remaining 50% of the 14,215 Restricted Stock Units are scheduled to vest on January 13, 2027.

Key Dates

Keywords

JPMorgan Chase, JPM, Stacey Friedman, Form 4, Insider Transaction, Restricted Stock Units, RSU Vesting, Common Stock, Executive Compensation