BACON ASHLEY 4

What Happened

• Ashley Bacon, Chief Risk Officer at JPMorgan Chase & Co., received an award of 18,108 restricted stock units (RSUs) on January 20, 2026. The RSUs were granted at $0.00 (no cash paid) and are derivative awards representing a contingent right to receive shares upon vesting. This is an equity award (grant), not an open-market purchase or sale.

Key Details

• Transaction date: 2026-01-20; filing date: 2026-01-22.
• Award type/code: A (Grant/Award — RSUs); reported amount: 18,108 RSUs; reported acquisition price: $0.00.
• Shares owned after transaction: not specified in the Form 4 filing.
• Notable footnotes:
  • F1: These RSUs are 50% of Bacon’s equity-based incentive for performance year 2025 (the other 50% are PSUs).
  • F2: Each RSU equals a contingent right to one share of JPMC common stock.
  • F3: Awards are subject to the Firm’s Bonus Recoupment Policy and other recapture/protection-based vesting provisions.
  • F4: Vesting schedule — 50% on Jan 13, 2028 and 50% on Jan 13, 2029.
• Timeliness: Filed within the typical Form 4 window (transaction 1/20/2026; Form 4 filed 1/22/2026).

Context

• RSUs are deferred equity compensation: they have no immediate cash value until they vest and convert into shares. They are routinely used for senior executive pay and do not, by themselves, indicate a buy or sell signal. Recoupment and protection provisions mean the awards can be canceled or clawed back under certain circumstances.