Erdoes Mary E. 4

What Happened

• Mary E. Erdoes (CEO, Asset & Wealth Management) was granted 84,983.501 Performance Share Units (PSUs) on 2026-03-17. The filing shows an award/derivative transaction (code A) at $0.00 reported value—this is an award of contingent share units, not a cash purchase or sale.
• The PSUs were earned for the three-year performance period ended December 31, 2025 after the Board’s Compensation & Management Development Committee certified attainment of pre-established goals. The PSUs are expected to vest and be settled in shares on March 25, 2026; final share delivery will be reported in a later Form 4.

Key Details

• Transaction date: March 17, 2026; Form 4 filed March 19, 2026 (appears timely).
• Award: 84,983.501 PSUs (derivative award) reported at $0.00; no cash proceeds involved in this filing.
• What PSUs mean: Each PSU is a contingent right to receive one share of JPM common stock upon vesting based on performance (footnote summary).
• Vesting/settlement: PSUs earned for 2023–25; expected to vest/settle into shares on March 25, 2026; the conversion/settlement will be reported later.
• Holding restriction/tax withholding: Shares delivered after applicable tax withholding must be held for an additional two-year period, creating a combined vesting + holding period of five years from the original grant date (January 17, 2023).
• Shares owned after this transaction: Not specified in the filing.

Context

• PSUs are long-term, performance-based equity awards that convert to actual shares only if performance goals are met; they are common compensation for senior executives and reflect pay tied to multi-year results rather than an immediate market bet.
• Because this is an earned award (not a purchase or sale), it should be read as compensation tied to performance certification, not as a direct insider signal to buy or sell stock.