Bank of America SEC Filings

Bank of America Corporation (BAC) reported insider equity transactions by an officer, the President of Merrill Wealth Management, on 11/15/2025 via a Form 4 filing. The officer exercised 1,234 restricted stock units, receiving the same number of Bank of America common shares as they vested. To cover tax withholding obligations, 524 shares were automatically withheld and disposed of back to the issuer at a price of $52.61 per share. Following these transactions, the officer directly owned 61,850 common shares, with an additional 988 shares held indirectly by a child and 988 shares held indirectly under a UTMA account. The filing also shows 1,235 restricted stock units remaining outstanding, scheduled to vest through 02/15/2026 based on a prior grant made on 02/15/2022.

Bank of America Corporation (BAC) reported an insider equity transaction by an officer. On 11/15/2025, the President of Merrill Wealth Management exercised 975 restricted stock units into common stock and then disposed of 471 common shares to Bank of America to cover tax withholding at a price of $52.61 per share. After these transactions, the reporting person directly beneficially owned 39,621 shares of Bank of America common stock and 975 restricted stock units. Each restricted stock unit represents a contingent right to receive one share of common stock, and the units were originally granted on February 15, 2022, vesting in sixteen equal quarterly installments starting May 15, 2022.

Bank of America Corporation (BAC) reported an insider equity transaction by its Chief Technology & Information Officer. On 11/15/2025, the executive exercised 2,703 restricted stock units, each convertible into one share of Bank of America common stock. As part of the same event, 1,383 shares were withheld and disposed of at $52.61 per share to satisfy tax withholding obligations, a common administrative step rather than an open-market sale. Following these transactions, the executive directly beneficially owns 4,055 shares of Bank of America common stock.

Bank of America Corporation reported an insider transaction by Chair and CEO Brian T. Moynihan. On 11/15/2025, he exercised 17,891 2025 cash-settled restricted stock units, each economically equivalent to one share of common stock, and disposed of 17,891 shares of common stock at $52.61 per share. Following these transactions, he directly beneficially owned 2,651,313 shares of common stock, plus 3,568.159 shares held through a 401(k) plan and 100,000 shares held by a trust. He also continued to hold 53,675 cash-settled restricted stock units, originally granted on February 14, 2025 and scheduled to vest in twelve equal monthly installments from March 2025 through February 2026.

BofA Finance LLC is offering senior unsecured 8.00% Issuer Callable Daily Range Accrual Notes linked to the 10‑Year Constant Maturity Treasury (CMT) rate, due November 28, 2035, fully and unconditionally guaranteed by Bank of America Corporation.

Interest is paid quarterly and is variable: it equals a Base Rate of at least 8.00% per year multiplied by the fraction of U.S. Government Securities Business Days in each period when the CMT Rate is between 0.00% and 5.00%, inclusive. If the CMT Rate stays below 0.00% or above 5.00% for an entire period, no interest is paid. The rate for any period cannot exceed 8.00% or fall below 0.00%.

The notes are callable at the issuer’s option at 100% of principal plus accrued interest on each quarterly interest payment date from November 28, 2026 through August 28, 2035. If not called, holders receive principal at maturity plus any accrued interest. The notes are offered at $1,000 denominations, will not be listed on an exchange, and carry an initial estimated value between $920 and $970 per $1,000, reflecting internal funding and hedging costs. They are not bank deposits or FDIC insured and are subject to the credit risk of both BofA Finance and BAC.

BofA Finance LLC, guaranteed by Bank of America Corporation (BAC), is offering $50,000,000 of senior unsecured Fixed to Floating Rate Notes linked to compounded SOFR, maturing on December 18, 2026. The notes are issued at 100% of principal in minimum denominations of $1,000, with an underwriting discount of 0.05% and proceeds to BofA Finance of $49,975,000 before expenses.

From the issue date on November 18, 2025 to May 18, 2026, the notes pay a fixed interest rate of 4.05% per annum, with interest paid monthly. From May 18, 2026 to maturity, they switch to a floating rate equal to compounded SOFR plus 0.30% per annum, reset monthly, with a floor of 0.00% per annum. Interest is calculated on an ACT/360 basis using a rate cut-off convention.

The notes are senior unsecured obligations of BofA Finance, fully and unconditionally guaranteed on a senior unsecured basis by BAC, but are not deposits, are not guaranteed by Bank of America, N.A., and are not insured by the FDIC or any government agency. They are not redeemable or putable before maturity and will not be listed on any securities exchange, so liquidity will depend on any secondary market that develops. The investment is subject to the credit risk of both BofA Finance and BAC and to interest rate fluctuations in SOFR.

Bank of America Corporation received an updated ownership report on its common stock from Warren E. Buffett, Berkshire Hathaway Inc. and a broad group of Berkshire insurance and finance subsidiaries. The group reports beneficial ownership of 568,070,012 Bank of America common shares, representing 7.8% of the outstanding class, with shared voting and dispositive power over these shares and no sole power. Major holding entities include National Indemnity Company, GEICO-related companies, Columbia Insurance Company and others within the Berkshire group. The filers certify that the shares were not acquired and are not held for the purpose of changing or influencing control of Bank of America, indicating a passive investment position under Schedule 13G/A.

BofA Finance LLC, fully and unconditionally guaranteed by Bank of America Corporation (BAC), is offering senior unsecured fixed rate callable notes due November 26, 2027. The notes pay a fixed interest rate of 4.15% per annum, with interest paid quarterly on February 26, May 26, August 26 and November 26 of each year, beginning February 26, 2026.

The issuer may redeem all of the notes at 100% of principal plus accrued interest on any interest payment date from May 26, 2026 through August 26, 2027, so investors must be willing to have the notes called early. The notes are offered at 100.00% of principal, with an underwriting discount of 0.20%, resulting in proceeds to BofA Finance of 99.80%. For certain fee-based accounts and eligible institutional investors, the price may be as low as $998.00 per $1,000.

The minimum denomination is $1,000 and integral multiples of $1,000. The notes are not insured by the FDIC, will not be listed on any exchange, and may have limited or no secondary market liquidity. Investors are exposed to the credit risk of both BofA Finance and BAC and to potential conflicts of interest arising from BAC affiliates’ underwriting, hedging, and market-making activities.

Bank of America (BAC) filed an amended preliminary pricing supplement for BofA Finance’s Contingent Income Issuer Callable Yield Notes linked to the least performing of Meta (META), Alphabet Class C (GOOG) and NVIDIA (NVDA). The notes target a monthly contingent coupon of $8.00 per $1,000 of principal (0.80% per month; 9.60% per annum) if on each observation date all three stocks are at or above 80.00% of their starting values. The issuer may redeem the notes in whole on specified monthly call dates at $1,000 per note plus the applicable contingent coupon.

Key terms include an approximately 5-year term (pricing date November 18, 2025; issue date November 21, 2025; valuation date November 18, 2030; maturity date November 21, 2030), $1,000 minimum denominations, and monthly observation and payment schedules. The public offering price is $1,000.00, the underwriting discount is $11.25, and proceeds to BofA Finance are $988.75 per note before expenses. The initial estimated value is expected between $930.00 and $980.00 per $1,000, reflecting BAC’s internal funding rate and hedging-related charges. Payments depend on the credit risk of BofA Finance (issuer) and BAC (guarantor). The notes are not intended for retail investors in the EEA or UK.