Nguyen Thong M 4

What Happened

• Nguyen Thong M, Vice Chair, Global Strategy & Enterprise Platforms at Bank of America, exercised/converted vested units into common stock (total underlying shares ~160,764) on Feb 15, 2026.
• To satisfy tax-withholding obligations and issuer withholding, he surrendered/sold approximately 89,705 shares at $52.55 per share, producing total proceeds of about $4,713,997. This is a routine sell-to-cover associated with vesting, not an open-market investment purchase.

Key Details

• Transaction date: February 15, 2026; Form 4 filed February 18, 2026 (timely).
• Exercise/conversion: ~160,764 units converted to company common stock (multiple grants/vesting schedules).
• Shares surrendered/sold for tax/issuer withholding: ~89,705 shares at $52.55 each, total ≈ $4,713,997.
• Footnotes: units are contingent rights to receive one share (or cash equivalent) (F1, F3); some grants vest in cash vs shares and vest on staggered schedules from 2022–2026 (F4–F10). F2 notes dispositions to the issuer were to satisfy tax withholding.
• Filing does not state total shares retained by the insider after these transactions in the provided excerpt.

Context

• This is effectively a cashless exercise / sell-to-cover: vested units were converted and a portion of the resulting shares were surrendered or sold to pay taxes and withholding. Such transactions are common for executives receiving restricted stock/unit vesting and do not necessarily indicate a change in conviction about the company.