Gopalkrishnan Hari 4

What Happened

• Gopalkrishnan Hari, Chief Technology & Information Officer at Bank of America, exercised a series of contingent units (derivative conversions) on February 15, 2026 that converted into 128,483 shares of BAC common stock. To cover tax withholding obligations, 65,527 of those shares were surrendered to the issuer (disposition) at a withholding valuation of $52.55 per share, yielding approximately $3,443,443 in tax withholdings. Net new shares received by the insider were 62,956.

Key Details

• Transaction date: February 15, 2026; Form 4 filed February 18, 2026.
• Exercises (code M): total 128,483 units converted to shares (multiple grant tranches).
• Tax-related dispositions (code F): 65,527 shares withheld at $52.55/share, total ~$3,443,443.
• Net shares retained after withholding: 62,956 (128,483 acquired − 65,527 withheld).
• Footnotes: F1 clarifies each unit is a contingent right to one share. F2 confirms the share disposals were to the issuer to satisfy tax withholding. Other footnotes (F3–F9) show these units came from multiple awards granted 2022–2025 with various vesting schedules.
• Shares owned after the transactions are not disclosed in the provided excerpt of the filing.
• Transaction codes: M = exercise/conversion of derivative; F = payment of exercise price or tax liability (share withholding).

Context

• This was effectively a cashless exercise: units were converted to shares and a portion of those shares were surrendered to cover withholding taxes rather than sold on the open market. Such withholdings are routine and reflect tax obligations rather than an open-market sale indicating sentiment.
• The filing does not indicate a 10% owner or any 10b5-1 plan. No late-filing flag is provided in the excerpt.