Piepszak Jennifer 4

What Happened

• Jennifer Piepszak, Chief Operating Officer of JPMorgan Chase & Co. (JPM), received an award of 21,289 restricted stock units (RSUs) on January 20, 2026. The award is recorded as a derivative grant (price $0.00) and represents a contingent right to receive one share of JPMC common stock per RSU upon vesting.

Key Details

• Transaction date: January 20, 2026 (Form 4 filed January 22, 2026).
• Transaction type/code: Grant/Award (derivative RSUs).
• Shares granted: 21,289 RSUs; recorded acquisition price $0.00 (typical for equity grants).
• Vesting: 50% vests January 13, 2028 and 50% vests January 13, 2029 (F4).
• What an RSU is: Each RSU represents a contingent right to one share of JPMC common stock upon vesting (F2).
• Other award terms: RSUs represent 50% of Piepszak’s equity incentive for performance year 2025; the other 50% was awarded as Performance Share Units (PSUs) (F1). Awards include recoupment and protection-based vesting provisions subject to the Firm’s Bonus Recoupment Policy and Board committee ratification (F3).
• Shares owned after transaction: Not specified in the filing.
• Filing timeliness: Form 4 was filed two days after the grant date; no late filing flag noted.

Context

• This is a compensation grant—neither a market purchase nor a sale—so it reflects pay structure rather than an immediate trading signal. RSUs convert to shares only if and when they vest, and awards are subject to recapture/cancellation provisions described in the filing.