Beer Lori A 4
4 · JPMORGAN CHASE & CO · Filed Mar 19, 2026
Research Summary
AI-generated summary of this filing
JPMorgan (JPM) CIO Lori Beer Receives PSU Award
What Happened
Lori Beer, Chief Information Officer of JPMorgan Chase & Co., received a grant of 28,327.869 performance share units (PSUs) on March 17, 2026 (reported on Form 4 filed 2026-03-19). The award is recorded as a derivative acquisition at $0.00 because PSUs are contingent rights to receive shares upon meeting performance and vesting conditions. The Firm’s Compensation & Management Development Committee certified that the maximum amount of the previously granted PSUs was earned for the three‑year performance period ended December 31, 2025.
Key Details
- Transaction date: 2026-03-17; Form 4 filed: 2026-03-19 (not late).
- Grant: 28,327.869 PSUs; acquisition price reported $0.00 (derivative award).
- PSUs represent contingent rights to receive one share per PSU upon vesting (F1).
- PSUs earned for the three‑year period ended 12/31/2025 and the maximum previously granted amount was certified as earned (F2).
- PSUs are expected to vest and settle in shares on March 25, 2026; settlement and any shares issued will be reported in a later Form 4 (F2).
- Share delivery is subject to tax withholding; after withholding, delivered shares must be held for an additional two years for a total five‑year combined vesting/holding period measured from the original grant date (Jan 17, 2023) (F3).
- Shares owned after this reported transaction are not disclosed in this filing.
Context
PSUs are a form of performance-based compensation (a derivative award) and differ from open-market purchases or sales; they indicate compensation tied to firm performance rather than a personal buy/sell decision. The committee’s certification that the maximum PSUs were earned reflects payout under pre-established performance goals for the applicable period.
Insider Transaction Report
- Award
Performance Share Units
[F1][F2][F3]2026-03-17+28,327.869→ 28,327.869 total→ Common Stock (28,327.869 underlying)
Footnotes (3)
- [F1]Each Performance Share Unit (PSU) represents a contingent right to receive one share of JPM common stock upon vesting based on the attainment of performance goals.
- [F2]Represents PSUs earned (including reinvested dividend equivalents) based on the Firm's attainment of pre-established performance goals for the three-year performance period ended December 31, 2025. The PSUs are expected to vest and settle in shares of common stock on March 25, 2026, which will be reported in a later Form 4 filing. In accordance with the terms of the PSUs, the Board's Compensation & Management Development Committee has certified the Firm's absolute and relative performance against the pre-established performance goals for the performance period and has determined that the maximum amount of the previously granted PSUs has been earned.
- [F3]Shares delivered, after applicable tax withholding, must be held for an additional two-year period, for a total combined vesting and holding period of five years from the date of grant, as provided under the terms of the PSU award granted on January 17, 2023.