Erdoes Mary E. 4

What Happened

• Mary Erdoes, CEO of Asset & Wealth Management at JPMorgan Chase & Co. (JPM), received a grant of 60,214 Restricted Stock Units (RSUs) on June 24, 2026. The award is reported as a derivative grant (price listed $0.00 at grant)—no cash was exchanged at the time of grant.
• This is a Retention and Continuity Award that cliff-vests on June 24, 2029, is subject to a performance condition and continuous employment, and requires shares delivered (after tax withholding) to be held for an additional two years (total combined vesting + holding period of five years).

Key Details

• Transaction date: 2026-06-24; Form 4 filed: 2026-06-26 (timely — two business days).
• Grant: 60,214 RSUs; reported price $0.00 (derivative award, not an open-market purchase).
• Shares owned after transaction: not disclosed in this filing.
• Relevant footnotes:
  • F1: Each RSU converts to one share of JPMC common stock upon vesting/delivery.
  • F2: Awards are subject to the Firm’s Bonus Recoupment Policy and 2026 recapture provisions; Operating Committee awards have additional Protection-based Vesting and possible CEO cancellation (ratified by Compensation & Management Development Committee).
  • F3: Award cliff-vests 6/24/2029; delivery followed by a two-year hold requirement; reported previously in an 8-K on 6/25/2026.
• Filing timeliness: Filed two days after the transaction (within the usual Section 16 reporting window).

Context

• RSUs are conditional grants (not immediate cash or shares). They generally indicate retention/incentive compensation rather than an immediate buy or sell signal; value is realized only if/when RSUs vest and convert to shares.
• Recoupment and protection provisions mean the award can be canceled or value recovered under specified circumstances (e.g., restatement or other contract conditions), and additional vesting protections apply for Operating Committee members.