Petno Douglas B 4
4 · JPMORGAN CHASE & CO · Filed Mar 19, 2026
Research Summary
AI-generated summary of this filing
JPMorgan Chase (JPM) Co-CEO CIB Douglas Petno Receives Award
What Happened
Douglas B. Petno, Co-CEO of the Corporate & Investment Bank at JPMorgan Chase (JPM), was granted 50,647.544 performance share units (PSUs) on 2026-03-17. The grant is reported as a derivative award (code A) with a reported acquisition price of $0.00 (no cash paid). The PSUs represent contingent rights to receive one share of JPM common stock per PSU if pre-established performance goals were met.
Key Details
- Transaction date: 2026-03-17; Form 4 filed 2026-03-19 (timely filing).
- Award: 50,647.544 PSUs; reported acquisition price $0.00 (derivative award).
- PSUs represent contingent rights to one share each upon vesting (per footnote F1).
- Performance outcome: Board committee certified that maximum PSUs were earned for the 3‑year performance period ended 12/31/2025 (footnote F2).
- Expected settlement: PSUs are expected to vest and settle in shares on 2026-03-25 and will be reported in a later Form 4 (footnote F2).
- Tax/holding terms: Shares delivered after applicable tax withholding must be held an additional two years, for a total combined vesting + holding period of five years from the original grant date (per footnote F3).
- No post-transaction total shares owned are provided in the supplied filing excerpt.
Context
This transaction is a compensation award tied to firm performance, not an open-market purchase or sale. PSUs are commonly used to align executive pay with multi-year performance and are subject to vesting and holding restrictions, so they do not represent immediately liquid stock. The Board certified performance and granted the maximum payout for the performance period; settlement and any share delivery (after withholding) will be reported later.
Insider Transaction Report
- Award
Performance Share Units
[F1][F2][F3]2026-03-17+50,647.544→ 50,647.544 total→ Common Stock (50,647.544 underlying)
Footnotes (3)
- [F1]Each Performance Share Unit (PSU) represents a contingent right to receive one share of JPM common stock upon vesting based on the attainment of performance goals.
- [F2]Represents PSUs earned (including reinvested dividend equivalents) based on the Firm's attainment of pre-established performance goals for the three-year performance period ended December 31, 2025. The PSUs are expected to vest and settle in shares of common stock on March 25, 2026, which will be reported in a later Form 4 filing. In accordance with the terms of the PSUs, the Board's Compensation & Management Development Committee has certified the Firm's absolute and relative performance against the pre-established performance goals for the performance period and has determined that the maximum amount of the previously granted PSUs has been earned.
- [F3]Shares delivered, after applicable tax withholding, must be held for an additional two-year period, for a total combined vesting and holding period of five years from the date of grant, as provided under the terms of the PSU award granted on January 17, 2023.