Barnum Jeremy 4

What Happened
Jeremy Barnum, Chief Financial Officer of JPMorgan Chase & Co., received an award of 18,108 restricted stock units (RSUs) on January 20, 2026 (transaction code A). The grant is reported at $0 (typical for RSUs) because it is a contingent equity award rather than a cash purchase; the eventual value depends on JPM stock price when the RSUs convert to shares. This is a grant (not a sale or open-market purchase) and therefore is a routine compensation event rather than an immediate market directional signal.

Key Details

• Transaction date: January 20, 2026; Form filed January 22, 2026 (timely filing).
• Grant type/transaction code: A (award/grant of derivative securities — RSUs).
• Shares/units granted: 18,108 RSUs; acquisition price reported as $0.
• Vesting: 50% vest on January 13, 2028 and 50% vest on January 13, 2029 (per filing).
• Nature of award: Each RSU is a contingent right to receive one share of JPMC common stock upon vesting.
• Compensation context: RSUs represent 50% of Barnum’s 2025 equity-based incentive compensation; the remaining 50% were granted as Performance Share Units (PSUs).
• Recoupment/protections: Awards are subject to the firm’s Bonus Recoupment Policy and additional recapture/protection-based vesting provisions (may allow cancellation or recovery in specified circumstances).
• Shares owned after transaction: Not disclosed in this filing.

Context
RSU grants are standard executive compensation and only become actual shares (and therefore marketable) as they vest. Because this is an award rather than a purchase or sale, it does not directly signal buying or selling intent by the insider—it's a deferred-compensation event whose realized value will depend on JPMorgan Chase’s stock price at the time of vesting or distribution.