Piepszak Jennifer 4

What Happened
Jennifer Piepszak, Chief Operating Officer of JPMorgan Chase & Co., was awarded 57,514.735 performance share units (PSUs) on 2026-03-17. The grant is reported as an award (derivative) at $0.00 per share because PSUs are contingent rights to receive shares upon meeting performance conditions. The Board’s Compensation & Management Development Committee certified that the maximum amount of the previously granted PSUs for the 2023–2025 performance period was earned.

Key Details

• Transaction date: 2026-03-17; Form 4 filed: 2026-03-19 (within normal reporting window).
• Award type/amount: 57,514.735 PSUs; reported price $0.00 (derivative award).
• Expected settlement: PSUs are expected to vest and be settled in shares on March 25, 2026; a later Form 4 will report the actual share delivery.
• Vesting/holding restrictions: Shares delivered after tax withholding must be held an additional two years, for a total five-year combined vesting/holding period measured from the original grant date (January 17, 2023).
• PSUs include earned amounts and reinvested dividend equivalents per committee certification.
• Shares owned after this reported transaction are not listed in this filing.

Context
PSUs are a form of long-term incentive compensation tied to firm performance; this award reflects payoff of a multi-year performance grant rather than an open-market buy or sale. Because these are earned awards (not purchases), they are typically considered routine compensation and not an immediate market sentiment signal. The settlement and final share delivery will be reported separately when the PSUs convert to actual shares.