Petno Douglas B 4

What Happened

Douglas B. Petno, Co-CEO of the Corporate & Investment Bank at JPMorgan Chase (JPM), was granted 50,647.544 performance share units (PSUs) on 2026-03-17. The grant is reported as a derivative award (code A) with a reported acquisition price of $0.00 (no cash paid). The PSUs represent contingent rights to receive one share of JPM common stock per PSU if pre-established performance goals were met.

Key Details

• Transaction date: 2026-03-17; Form 4 filed 2026-03-19 (timely filing).
• Award: 50,647.544 PSUs; reported acquisition price $0.00 (derivative award).
• PSUs represent contingent rights to one share each upon vesting (per footnote F1).
• Performance outcome: Board committee certified that maximum PSUs were earned for the 3‑year performance period ended 12/31/2025 (footnote F2).
• Expected settlement: PSUs are expected to vest and settle in shares on 2026-03-25 and will be reported in a later Form 4 (footnote F2).
• Tax/holding terms: Shares delivered after applicable tax withholding must be held an additional two years, for a total combined vesting + holding period of five years from the original grant date (per footnote F3).
• No post-transaction total shares owned are provided in the supplied filing excerpt.

Context

This transaction is a compensation award tied to firm performance, not an open-market purchase or sale. PSUs are commonly used to align executive pay with multi-year performance and are subject to vesting and holding restrictions, so they do not represent immediately liquid stock. The Board certified performance and granted the maximum payout for the performance period; settlement and any share delivery (after withholding) will be reported later.