MOYNIHAN BRIAN T 4

What Happened
Brian T. Moynihan, Chair and CEO of Bank of America, exercised/converted derivative units and disposed of 18,083 shares on April 15, 2026. The disposition was to the issuer at $54.32 per share for proceeds of $982,269. The filing shows the exercise/conversion (transaction code M) followed by a disposition to the issuer (code D) of the same 18,083 shares.

Key Details

• Transaction date: 2026-04-15. Form 4 filed 2026-04-17 (within the typical 2-business-day reporting window).
• Exercise/conversion (M): 18,083 unit/shares acquired via derivative conversion.
• Disposition to issuer (D): 18,083 shares sold at $54.32 each; proceeds $982,269.
• Shares owned after the transactions: not specified in the information provided.
• Footnotes of note:
  • F1: Each unit reported is the economic equivalent of one share of BAC common stock.
  • F2: 401(k) share equivalents increased by 30.135 shares from dividend reinvestment and NAV changes.
  • F3: On Feb 13, 2026, Moynihan was granted units that vest/payable solely in cash monthly (1/12th each month Mar 2026–Feb 2027).

Context
This was effectively a sell following an exercise/conversion of derivative units; when exercised units are immediately transferred to the issuer, that often reflects a sell-to-issuer transaction rather than an open-market buy. The filing is factual and does not state the insider’s motivation. The presence of cash-settled/vested units (F3) and the “to issuer” disposition are important details for understanding the mechanics of this transaction.