WHITE MICHAEL D 4

What Happened

• Michael D. White, a director of Bank of America Corporation (BAC), was granted 5,365.01 phantom stock units on 2026-05-04. The award is recorded as a derivative grant (transaction code A) and represents director compensation rather than an open-market purchase or sale. No per-share price or cash value is listed in the filing.

Key Details

• Transaction date: 2026-05-04; Form 4 filed 2026-05-06 (timely filing under Rule 16b‑3 timeframes).
• Security: Phantom stock units (each unit equals the economic value of one BAC common share) — 5,365.01 units acquired.
• Price: N/A (award/grant; no cash price reported).
• Shares owned after transaction: Not specified in the filing.
• Footnotes:
  • F1: Each phantom stock unit = economic equivalent of one share of BAC common stock.
  • F2: Units were awarded as payment of annual director compensation under the Bank of America Director Deferral Plan; the transaction is exempt under Rule 16b‑3. Units may be settled in cash upon death or termination of service.
  • F3: The total includes 2,122.58 phantom units acquired via dividend reinvestment under the Director Deferral Plan.

Context

• This was a compensation award (routine director pay) rather than a market buy or sell, so it is not a direct bullish/bearish signal. Phantom stock units are derivative awards that track the economic value of shares and may be settled in cash rather than delivering actual shares.