MOYNIHAN BRIAN T 4

What Happened
Brian T. Moynihan, Chair and CEO of Bank of America (BAC), had 18,083 stock units (economic equivalent of shares) vest and be converted on May 15, 2026. Those units were then disposed to the issuer in a cash settlement at $49.77 per unit, generating approximately $899,991. This was not an open-market purchase or sale for investment purposes but a routine cash settlement of vested compensation units.

Key Details

• Transaction date: May 15, 2026. Form 4 filed May 19, 2026 (timely within required business days).
• Units/shares involved: 18,083 units converted and cash-settled.
• Price / proceeds: $49.77 per unit; total cash received ≈ $899,991.
• Codes on the filing: M (exercise/conversion of derivative/security) and D (disposition to issuer — cash settlement).
• Footnotes: Each unit equals the economic equivalent of one share. These units were granted Feb 13, 2026 and vest/payable in monthly installments (1/12th each month Mar 2026–Feb 2027).
• Shares owned after the transaction: Not specified in the provided filing data.

Context
This transaction reflects a routine vesting and cash settlement of compensation units rather than a market sale or purchase. For derivative transactions like this, the insider converted vested units and immediately took cash rather than receiving or selling actual shares on the open market. Such events are common for executive pay and do not on their own indicate a change in the insider’s view of the company.