Scrivener Thomas M 4

What happened

• Thomas M. Scrivener, Chief Operations Executive of Bank of America (BAC), exercised 101,523 contingent equity units on February 15, 2026. The underlying units convert 1-for-1 to common shares per the filing footnotes.
• To satisfy tax withholding obligations, a total of 52,057 shares were withheld or surrendered to the issuer at $52.55 per share, producing aggregate cash amounts of about $2,735,595 (individual withholding dispositions range from ~$140k to ~$1.15M).
• After withholding, roughly 49,466 shares remained attributable to the reporting person (101,523 exercised minus ~52,057 withheld). These transactions are routine award vesting/exercise and tax-withholding actions rather than open-market investment purchases.

Key details

• Transaction date: February 15, 2026; Form 4 filed February 18, 2026 (appears timely).
• Exercise amount: 101,523 units exercised (multiple grant vintages; units generally vest over multi-year schedules per footnotes).
• Withheld/surrendered: 38,743 shares listed as tax-withholding payments (code F) plus 13,314 shares surrendered to issuer (code D) = 52,057 total withheld.
• Withholding price: $52.55 per share (used to calculate cash value of withheld shares).
• Approx. cash value surrendered for taxes: ~$2.74 million total (sum of reported disposition amounts).
• Notable footnotes: units are contingent rights to receive shares or cash (F1, F3); grants date and vesting schedules span 2022–2025 (F4–F9, F10). Footnote F2 confirms dispositions to the issuer were to satisfy tax withholding.
• Filing timeliness: filed 3 days after the transaction date; no late filing flag provided.

Context

• These entries are derivative exercises (Code M) followed by tax withholding (Codes F and D). That pattern — exercising previously granted units and surrendering shares to cover taxes — is a common, administrative transaction and does not necessarily signal a buy or sell opinion by the insider. Purchases are generally more informative about insider sentiment; here the net effect is receipt of vested shares after tax withholding.