Petno Douglas B 4

What Happened Douglas B. Petno, Co-CEO of the Corporate & Investment Bank at JPMorgan Chase & Co., was granted 25,938 restricted stock units (RSUs) on January 20, 2026 (reported as a derivative award, grant price $0). The filing also reports a disposal by gift of 811 shares on January 21, 2026 (reported value $0). The RSUs represent half of his 2025 equity incentive award and each RSU is a contingent right to receive one share upon vesting.

Key Details

• Transactions: 25,938 RSUs granted (A) on 2026-01-20; 811 shares gifted/disposed (G) on 2026-01-21. Both reported on Form 4 filed 2026-01-22.
• Prices/values: RSUs reported at $0 (derivative award); gift reported at $0. No cash purchase or open-market sale reported.
• Vesting: RSUs vest 50% on Jan 13, 2028 and 50% on Jan 13, 2029 (F4).
• Award structure: RSUs comprise 50% of his 2025 equity-based incentive compensation; the other 50% are Performance Share Units (PSUs) (F1–F2).
• Protections/recoupment: Awards are subject to the Firm’s Bonus Recoupment Policy and 2026 awards contain recapture and Protection-Based Vesting provisions (F3).
• Shares owned after transaction: not disclosed in the provided filing.

Context

• RSUs are a deferred, derivative form of compensation (a contingent right to receive shares at vesting) rather than an immediate market purchase — they do not signal an immediate buying or selling decision.
• Gifts are personal disposals and typically do not indicate the insider’s view of the stock price.
• Filing appears timely (transactions in Jan 20–21; Form 4 filed Jan 22, 2026).