Friedman Stacey 4

What Happened Stacey Friedman, General Counsel of JPMorgan Chase & Co. (JPM), was awarded 18,108 restricted stock units (RSUs) on January 20, 2026. The award is reported as a derivative acquisition (code A) with an acquisition price of $0 (i.e., a grant, not a purchase). These RSUs represent contingent rights to receive one share of JPMC common stock per RSU upon vesting.

Key Details

• Transaction date: January 20, 2026; filing date: January 22, 2026.
• Award: 18,108 RSUs; reported acquisition price $0 (grant).
• Vesting: 50% vests January 13, 2028; remaining 50% vests January 13, 2029 (Footnote F4).
• Footnotes: RSUs constitute 50% of the reporting person’s 2025 equity award (the other 50% were PSUs) (F1); each RSU equals one share upon vesting (F2); awards are subject to the firm’s Bonus Recoupment Policy and additional recapture and Protection-Based Vesting provisions for senior officers (F3).
• Shares owned after transaction: not specified in this Form 4.
• Timeliness: Filing appears timely (transaction 1/20/2026, Form 4 filed 1/22/2026).

Context RSU grants are routine components of executive compensation and do not involve an immediate cash outlay or open-market purchase; they convert to actual shares only if and when vesting conditions are met. The award is subject to clawback/recapture and special vesting protections, which can cancel or recover value in specified circumstances. For investors, grants signal compensation alignment with long-term performance but are not direct indicators of insider buying or selling.