[Form 4] JPMORGAN CHASE & CO Insider Trading Activity

Rhea-AI Filing Summary

Phebe N. Novakovic, a director of JPMorgan Chase & Co., acquired 118.8853 shares of the company's common stock on 09/30/2025 at a price of $315.43 per share. After the reported transaction she beneficially owned 12,119.7681 shares, and an additional 45 shares are reported as indirectly owned by her spouse. The filing explains the shares represent a deferral of a quarterly director retainer payable in common stock upon termination of service as a director.

Insights

Corporate Governance Expert

TL;DR: Director deferred compensation converted to 118.8853 shares, modestly increasing insider alignment with shareholders.

The Form 4 shows a routine director compensation deferral into common stock rather than a market purchase or sale. The incremental holding (118.8853 shares) is small relative to typical institutional positions and does not signal a major change in insider conviction, but it does increase the director's ownership stake and aligns compensation with shareholder returns. The filing is signed under power of attorney, indicating administrative handling of the reporting obligation.

Securities Analyst

TL;DR: Transaction is administrative and non-material for valuation, showing standard retainer deferral into equity.

The transaction was coded as an acquisition resulting from a deferred retainer, priced at $315.43 per share. The net increase to beneficial ownership is 118.8853 shares, bringing total reported beneficial ownership to 12,119.7681 shares. There is no derivative activity reported and no indication of trading intent beyond compensation deferral. Investors should view this as a routine disclosure rather than a material corporate event.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

NOVAKOVIC PHEBE N

(Last) (First) (Middle)

383 MADISON AVENUE

(Street)

NEW YORK NY 10179-0001

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
JPMORGAN CHASE & CO [ JPM ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
09/30/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	09/30/2025		A(1)		118.8853	A	$315.43	12,119.7681	D
Common Stock								45	I	By Spouse

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Deferral of quarterly retainer, payable in common stock following termination of service as director.

	/s/ Holly Youngwood under POA	10/01/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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