Leopold Robin 4
4 · JPMORGAN CHASE & CO · Filed Mar 27, 2026
Research Summary
AI-generated summary of this filing
JPMorgan (JPM) HR Head Robin Leopold Receives PSUs, Sells Shares
What Happened
Robin Leopold, Head of Human Resources at JPMorgan Chase & Co., had 24,894.773 Performance Share Units (PSUs) convert to common stock on March 25, 2026. To cover tax withholding, 13,767.773 shares were surrendered/sold at $295.04 per share, generating $4,062,044. After withholding, Leopold received a net of 11,127.000 shares. The settlement stems from a PSU award granted January 17, 2023 for the three‑year performance period ended December 31, 2025.
Key Details
- Transaction date: March 25, 2026; Form 4 filed March 27, 2026 (appears timely).
- Derivative conversion (code M): 24,894.773 PSUs settled into 24,894.773 shares (reported as $0.00 per share for the conversion).
- Tax withholding/payment (code F): 13,767.773 shares withheld/surrendered at $295.04 per share = $4,062,044.
- Net shares delivered to insider: 11,127.000 shares (24,894.773 − 13,767.773).
- Holding restriction: Shares delivered after withholding must be held for an additional two years (five years total from the Jan 17, 2023 grant), per the award terms (see footnotes).
- Nature of award: PSUs are contingent rights to receive shares based on performance (including reinvested dividend equivalents) for the three‑year period ended Dec 31, 2025.
Context
This was a PSU settlement with shares withheld to satisfy tax obligations — a routine administrative transaction rather than an open‑market sale or a purchase signal. PSUs vested based on pre-established performance goals; the withheld shares were used to pay taxes (code F), and remaining shares are subject to a mandatory holding period under the award terms.
Insider Transaction Report
- Exercise/Conversion
Common Stock
[F1][F2]2026-03-25+24,894.773→ 89,814.773 total - Tax Payment
Common Stock
2026-03-25$295.04/sh−13,767.773$4,062,044→ 76,047 total - Exercise/Conversion
Performance Share Units
[F2][F3]2026-03-25−24,894.773→ 0 total→ Common Stock (24,894.773 underlying)
- 9,201(indirect: By GRAT)
Common Stock
- 9,201(indirect: By Spouse)
Common Stock
Footnotes (3)
- [F1]These shares represent JPM common stock acquired on March 25, 2026 upon settlement of a Performance Share Unit (PSU) award granted on January 17, 2023 for the three-year performance period ended December 31, 2025 (as previously disclosed on a Form 4 filed on March 19, 2026), and 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.
- [F2]Each PSU represents a contingent right to receive one share of JPM common stock upon vesting based on the attainment of performance goals.
- [F3]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, as provided under the terms of a PSU award granted on January 17, 2023, and as previously reported on a Form 4 filed on March 19, 2026. The PSUs settled in shares of common stock on March 25, 2026. 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.