Erdoes Mary E. 4

What Happened

• Mary E. Erdoes, CEO of Asset & Wealth Management at JPMorgan Chase & Co., had Performance Share Units (PSUs) settle on March 25, 2026, converting into 84,983.501 shares of JPM common stock (exercise/conversion of derivative, code M).
• To satisfy tax withholding, 46,996.501 of those shares were disposed at $295.04 per share, generating $13,865,848 (transaction code F). The net shares retained from the settlement equal 37,987.000 shares.
• This was not an open-market sale for cash gain; the disposition was to cover tax liabilities associated with the PSU settlement.

Key Details

• Transaction date: March 25, 2026; Form 4 filed March 27, 2026 (appears timely).
• Conversion: 84,983.501 PSUs → 84,983.501 shares at $0.00 (PSU settlement).
• Tax withholding: 46,996.501 shares sold at $295.04 = $13,865,848.
• Net shares retained from the settlement: 37,987.000 shares.
• Footnotes: PSUs were granted Jan 17, 2023 for the 3-year performance period ending Dec 31, 2025; the earned PSUs (including dividend equivalents) settled in shares and are subject to an additional two‑year holding requirement (total 5 years from grant).
• Filing timeliness: No late filing flag in the report.

Context

• These entries reflect PSU settlement (an award converting to stock) and share withholding to pay taxes — common and administrative, not necessarily a judgement on the company's outlook.
• The $0.00 exercise price indicates conversion of performance awards (not purchase of options), and the share disposal was a tax-related withholding rather than an investment-motivated sale.
• Investors should note the retained shares remain subject to the award’s holding restrictions (two more years).