MOYNIHAN BRIAN T 4

What Happened
Brian T. Moynihan, Chair and CEO of Bank of America (BAC), converted/exercised 18,083 derivative units and those 18,083 shares were disposed to the issuer at $55.87 per share, generating gross proceeds of $1,010,297. The Form 4 shows an exercise/conversion (transaction code M) paired with a disposition to the issuer (code D), meaning the converted shares were immediately transferred back to the company.

Key Details

• Transaction date: June 15, 2026; Form 4 filed June 17, 2026 (timely filing).
• Disposition: 18,083 shares sold/transferred to issuer at $55.87 per share = $1,010,297.
• Derivative activity: 18,083 units were exercised/converted (codes M) and then disposed (code D).
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Footnotes: F1 — each unit equals the economic equivalent of one common share; F2 — these were units granted Feb 13, 2026 that vest/payable in cash monthly (1/12th each month Mar 2026–Feb 2027).

Context
The sequence—conversion/exercise immediately followed by disposition to the issuer—is consistent with a cash-settlement or withholding-type transaction (common when restricted stock/units vest and shares are withheld or sold to cover taxes or cash payment obligations). This appears to be a routine settlement of vested units rather than an open-market investment sale; the filing itself does not state the insider’s motive.