BACON ASHLEY 4

What Happened
Ashley Bacon, Chief Risk Officer of JPMorgan Chase & Co. (JPM), was awarded 47,213.448 performance share units (PSUs) in a grant reported on a Form 4 with a transaction date of 2026-03-17. The award is recorded at $0.00 (a performance-based equity grant/derivative), and represents contingent rights to receive common stock upon vesting — no cash purchase was made.

Key Details

• Transaction date: March 17, 2026; Form 4 filed March 19, 2026 (reporting period 2026-03-17).
• Award type/code: A (grant/acquisition of PSUs); reported price: $0.00; quantity: 47,213.448 PSUs.
• Vesting/settlement: PSUs are expected to vest and settle in shares on March 25, 2026 and will be reported in a later Form 4.
• Performance certification: The Board’s Compensation & Management Development Committee certified that maximum performance goals were met for the three‑year period ended Dec 31, 2025; PSUs earned include reinvested dividend equivalents.
• Holding requirement/tax: Shares delivered after applicable tax withholding must be held for an additional two years, yielding a total combined vesting+holding period of five years from the original PSU grant date (per terms of the Jan 17, 2023 award).
• Shares owned after transaction: Not disclosed in this filing.

Context
PSUs are performance‑based long-term incentive awards (derivatives) that convert to actual shares only if pre-established performance goals are achieved and the vesting/settlement conditions are met. This grant reflects compensation tied to firm performance rather than an open‑market purchase or sale; it does not by itself indicate a personal cash investment or disposition by the insider.