Beer Lori A 4

What Happened

• Lori A. Beer, Chief Information Officer of JPMorgan Chase & Co. (JPM), was granted 12,725 Restricted Stock Units (RSUs) on 2026-01-20. The award is reported as a derivative grant (Form 4 code "A") with a reported price of $0.00 per unit (standard for RSU grants). This is an equity award rather than a purchase or sale.

Key Details

• Transaction date reported: 2026-01-20 (Period of Report); Form 4 filed: 2026-01-22.
• Grant: 12,725 RSUs; reported price: $0.00 per unit (award/derivative).
• Vesting: 50% on January 13, 2028 and 50% on January 13, 2029 (per footnote F4).
• Additional plan terms: RSUs equal a contingent right to one share each (F2); these RSUs represent 50% of Ms. Beer’s 2025 equity incentive mix, with the other 50% awarded as PSUs (F1).
• Governance and clawback: Awards are subject to JPMorgan Chase Bonus Recoupment Policy and additional recapture/protection-based vesting provisions for senior executives (F3).
• Shares owned after the transaction: not specified in the provided filing excerpt.
• Timeliness: Form was filed two days after the transaction date and appears to be timely.

Context

• RSUs are a deferred equity award that convert to shares (subject to vesting and conditions); they are not an open‑market purchase or sale and do not by themselves signal a buy/sell decision. The award is subject to standard recoupment and committee ratification provisions for certain senior executive awards.