Borthwick Alastair M 4

4 · BANK OF AMERICA CORP /DE/ · Filed Feb 18, 2026

Research Summary

AI-generated summary of this filing

Updated Feb 18, 2026

Bank of America (BAC) CFO Alastair Borthwick Exercises Units, Surrenders Shares for Taxes

What Happened

Alastair M. Borthwick, Executive Vice President & CFO of Bank of America, converted/ exercised a total of 116,948 award units into common shares on February 15, 2026. To satisfy tax-withholding obligations, he surrendered/withheld 77,205 shares at $52.55 per share (totaling approximately $4.06 million). After withholding/surrender, he netted about 39,743 shares.

Key Details

Transaction date: February 15, 2026; Form 4 filed February 18, 2026.
Conversion quantity: 116,948 units converted to shares (multiple grant lots).
Shares surrendered/withheld for taxes: 77,205 shares at $52.55/share = $4,057,123 total.
- Tax-withholding share counts and cash amounts shown on the filing sum to the amounts above.
Net shares received by the insider: ~39,743 shares.
Codes explained: M = exercise/conversion of derivative/units; F = payment to satisfy tax liability (shares withheld); D = disposition to issuer to satisfy tax withholding.
Footnotes indicate these were award units from multiple grants (grants dated Feb 15, 2022; Feb 15, 2023; Feb 15, 2024; Feb 14/15, 2025) with various vesting schedules (annual installments). Footnote F2 clarifies dispositions to the issuer were to satisfy tax withholding.
Shares owned after the transaction are not stated in the supplied summary of the filing.

Context

This was not an open-market sale — the shares were converted from company awards and a portion was surrendered/withheld to cover taxes (a routine, non‑market transaction). For derivative/award conversions like this, surrendering shares for tax is common and does not necessarily indicate a change in the executive’s view of the stock.

Insider Transaction Report

Form 4

Period: 2026-02-15

BANK OF AMERICA CORP /DE/BAC

Borthwick Alastair M

Executive Vice President & CFO

Transactions

Exercise/Conversion
Common Stock
[F1]
2026-02-15+16,113→ 404,213 total
Tax Payment
Common Stock
[F2]
2026-02-15$52.55/sh−8,911$468,273→ 395,302 total
Exercise/Conversion
Common Stock
[F1]
2026-02-15+25,000→ 420,302 total
Tax Payment
Common Stock
[F2]
2026-02-15$52.55/sh−13,826$726,556→ 406,476 total
Exercise/Conversion
Common Stock
[F1]
2026-02-15+19,775→ 426,251 total
Tax Payment
Common Stock
[F2]
2026-02-15$52.55/sh−10,936$574,687→ 415,315 total
Exercise/Conversion
Common Stock
[F1]
2026-02-15+14,478→ 429,793 total
Tax Payment
Common Stock
[F2]
2026-02-15$52.55/sh−8,007$420,768→ 421,786 total
Exercise/Conversion
Common Stock
[F3]
2026-02-15+14,478→ 436,264 total
Disposition to Issuer
Common Stock
2026-02-15$52.55/sh−14,478$760,819→ 421,786 total
Exercise/Conversion
Common Stock
[F1]
2026-02-15+13,552→ 435,338 total
Tax Payment
Common Stock
[F2]
2026-02-15$52.55/sh−7,495$393,862→ 427,843 total
Exercise/Conversion
Common Stock
[F3]
2026-02-15+13,552→ 441,395 total
Disposition to Issuer
Common Stock
2026-02-15$52.55/sh−13,552$712,158→ 427,843 total
Exercise/Conversion
2022 Restricted Stock Units
[F1][F4]
2026-02-15−16,113→ 0 total
Exp: 2026-02-15→ Common Stock (16,113 underlying)
Exercise/Conversion
Restricted Stock Units
[F1][F5]
2026-02-15−25,000→ 0 total
Exp: 2026-02-15→ Common Stock (25,000 underlying)
Exercise/Conversion
2023 Restricted Stock Units
[F1][F6]
2026-02-15−19,775→ 19,776 total
Exp: 2027-02-15→ Common Stock (19,775 underlying)
Exercise/Conversion
2024 Restricted Stock Units
[F1][F7]
2026-02-15−14,478→ 28,957 total
Exp: 2028-02-15→ Common Stock (14,478 underlying)
Exercise/Conversion
2024 Restricted Stock Units
[F3][F8]
2026-02-15−14,478→ 28,956 total
Exp: 2028-02-15→ Common Stock (14,478 underlying)
Exercise/Conversion
2025 Restricted Stock Units
[F1][F9]
2026-02-15−13,552→ 40,657 total
Exp: 2029-02-15→ Common Stock (13,552 underlying)
Exercise/Conversion
2025 Restricted Stock Units
[F3][F10]
2026-02-15−13,552→ 40,657 total
Exp: 2029-02-15→ Common Stock (13,552 underlying)

Footnotes (10)

[F1]Each unit represents a contingent right to receive one share of Bank of America Corporation common stock.
[F10]On February 14, 2025, the reporting person was granted units, vesting in cash in four equal annual installments commencing on February 15, 2026.
[F2]Disposition of shares to the issuer to satisfy a tax withholding obligation.
[F3]Each unit is the economic equivalent of one share of Bank of America Corporation common stock.
[F4]On February 15, 2022, the reporting person was granted units, vesting in four equal annual installments commencing on February 15, 2023.
[F5]On February 15, 2022, the reporting person was granted units, vesting in two equal annual installments commencing on February 15, 2025.
[F6]On February 15, 2023, the reporting person was granted units, vesting in four equal annual installments commencing on February 15, 2024.
[F7]On February 15, 2024, the reporting person was granted units, vesting in shares in four equal annual installments commencing on February 15, 2025.
[F8]On February 15, 2024, the reporting person was granted units, vesting in cash in four equal annual installments commencing on February 15, 2025.
[F9]On February 14, 2025, the reporting person was granted units, vesting in shares in four equal annual installments commencing on February 15, 2026.

Signature

Alastair M. Borthwick / Michael P. Lapp POA|2026-02-18

Documents

1 file

4
form4.xmlPrimary
PRIMARY DOCUMENT