Bank of America (BAC) Chief Accounting Officer Okpara Redeems 50 Depositary Shares

What Happened

• Johnbull Okpara, Chief Accounting Officer of Bank of America, had 50 depositary shares of Preferred Stock, Series DD redeemed by the issuer on March 10, 2026. Each depositary share was redeemed at $1,000.00, for total proceeds of $50,000. This was a disposition via issuer redemption (Form 4 transaction code J), not an open‑market sale by the insider.

Key Details

• Transaction date: 2026-03-10; Redemption price: $1,000.00 per depositary share; Total: $50,000.
• Transaction code: J — “Other acquisition or disposition” (issuer redemption in this case).
• Shares owned after transaction: Not specified in the filing.
• Footnotes: F1 — Each depositary share represents a 1/25th interest in a full preferred share. F2 — The issuer called and redeemed the Series DD depositary shares at $1,000.00 each; the redemption price did not include any accrued and unpaid dividends, and dividends ceased to accrue on the redemption date.
• Filing timeliness: The Form 4 was filed on 2026-09-04 for a transaction dated 2026-03-10, indicating a late filing.

Context

• Depositary shares are fractional interests in preferred stock; an issuer redemption is a company action that retires those securities at the stated call price. This disposition resulted from the issuer calling the securities and does not necessarily reflect the insider’s personal decision to sell.