Barnum Jeremy 4

What Happened

• Jeremy Barnum, CFO of JPMorgan Chase & Co., had 38,629.156 performance share units (PSUs) settle into common stock on March 25, 2026.
• To cover tax withholding, 21,362.156 of those shares were surrendered at a withholding price of $295.04/share, generating $6,302,690 in tax withholding. The net shares delivered to Barnum were 17,267.000.
• This was not an open‑market sale — it’s the settlement of a PSU award and share surrender to meet tax obligations.

Key Details

• Transaction date: March 25, 2026; Form 4 filed March 27, 2026 (timely filing).
• PSUs settled into 38,629.156 shares (reported as derivative exercise/conversion).
• 21,362.156 shares withheld for taxes at $295.04/share = $6,302,690.
• Net shares received: 17,267.000.
• Shares must be held for an additional two years per award terms (total five years from the Jan 17, 2023 grant date).
• Footnotes: each PSU equals one contingent share; PSUs were earned for the 3‑year performance period ended Dec 31, 2025.
• Shares owned after the transaction: not specified in this filing.

Context

• These transactions reflect PSU vesting and the company’s share‑withholding to satisfy taxes (transaction code F), not a market sale (code S).
• The withheld shares are routine tax withholding; the remaining shares are subject to an additional holding restriction (five years from the grant date), so this is not an immediate liquidity move by the insider.