Bank of America preferred shares redeemed at $1K

Bank of America’s chief accounting officer had all of his Series DD preferred depositary shares redeemed by the company and now holds only common stock.

Rhea-AI Filing Summary

BANK OF AMERICA CORP (symbol: BAC) is the issuer of record for a Form 4 filing submitted to the SEC. Okpara Johnbull reported disposition transactions in this Form 4 filing.

BANK OF AMERICA CORP (BAC) reported that Chief Accounting Officer Johnbull Okpara had 50 depositary shares of Preferred Stock, Series DD (each representing a 1/25th interest in a share) redeemed by the issuer on March 10, 2026 at $1,000.00 per depositary share. All shares and depositary shares of this preferred series were redeemed by the company, and dividends on the redeemed depositary shares ceased to accrue on the redemption date. After this redemption, Okpara holds no Preferred Stock, Series DD and directly holds 27,749 shares of Common Stock.

Insider Trade Summary

Other: 50 shares

Other 2 txns

Insider Okpara Johnbull

Role Chief Accounting Officer

Type	Security	Shares	Price	Value
Other	Preferred Stock, Series DD F1, F2	50	$1,000.00	$50K
holding	Common Stock	--	--	--

Holdings After Transaction: Preferred Stock, Series DD — 0 shares (Direct); Common Stock — 27,749 shares (Direct)

Footnotes (2)

1. F1. Depositary shares of Preferred Stock, Series DD each representing a 1/25th interest in a share.
2. F2. All shares and depositary shares of Preferred Stock, Series DD were redeemed by the issuer, including the reported securities. The reported securities were called for redemption by the issuer at a price of $1,000.00 per depositary share. The redemption price did not include any accrued and unpaid dividends. Dividends on the redeemed depositary shares ceased to accrue on the redemption date.

Key Figures

Depositary shares redeemed: 50 depositary shares Redemption price per depositary share: $1,000.00 per depositary share Preferred Stock, Series DD holdings after transaction: 0 shares +2 more

5 metrics

Depositary shares redeemed 50 depositary shares Preferred Stock, Series DD depositary shares redeemed on March 10, 2026

Redemption price per depositary share $1,000.00 per depositary share Issuer redemption of Preferred Stock, Series DD depositary shares

Preferred Stock, Series DD holdings after transaction 0 shares Johnbull Okpara’s holdings of Preferred Stock, Series DD after redemption

Common Stock holdings after transaction 27,749 shares Direct holdings of Bank of America Common Stock as of March 10, 2026

Interest represented by each depositary share 1/25th of a preferred share Each depositary share of Preferred Stock, Series DD

Key Terms

Depositary shares, Preferred Stock, Series DD, redemption date

3 terms

Depositary shares financial

"Depositary shares of Preferred Stock, Series DD each representing a 1/25th interest"

Depositary shares are tradable certificates that represent a fractional piece of a larger security held by a third-party bank, like owning a slice of a single big pie instead of the whole pie. They let companies issue and investors buy smaller, more affordable portions of preferred stock or other instruments; holders usually receive proportional dividends and market pricing similar to ordinary shares, but may have limited voting rights and different liquidity or tax implications, which can affect income and resale value.

Preferred Stock, Series DD financial

"All shares and depositary shares of Preferred Stock, Series DD were redeemed"

redemption date financial

"Dividends on the redeemed depositary shares ceased to accrue on the redemption date"

The redemption date is the specific day when a debt-like security (such as a bond, preferred share, or certificate) must be repaid by the issuer and the investor receives the principal plus any final interest or dividends. It matters to investors because it tells when cash will return, shapes the effective return and price of the security, and creates reinvestment and timing considerations—like knowing when a loan is due so you can plan what to do with the returned money.

FAQ

What did BAC executive Johnbull Okpara report in this Form 4?

He reported that 50 depositary shares of Bank of America Preferred Stock, Series DD were redeemed by the issuer on March 10, 2026 at $1,000.00 per depositary share, leaving him with no holdings of this preferred series.

Was the BAC Preferred Stock, Series DD redemption initiated by Johnbull Okpara?

No. The footnotes state that all shares and depositary shares of Preferred Stock, Series DD were redeemed by the issuer, and that the reported securities were called for redemption by the issuer at $1,000.00 per depositary share.

What price was paid for the redeemed BAC Series DD depositary shares?

The reported securities were redeemed at a price of $1,000.00 per depositary share. The filing notes that this redemption price did not include any accrued and unpaid dividends, and that dividends ceased to accrue on the redemption date.

How many BAC Preferred Stock, Series DD shares does Johnbull Okpara hold after the redemption?

After the reported transaction, Johnbull Okpara holds 0 shares of Preferred Stock, Series DD, including depositary shares, as all such securities were redeemed by the issuer on March 10, 2026.

How many BAC common shares does Johnbull Okpara own after this Form 4 event?

Following the March 10, 2026 transactions, the Form 4 reports that Johnbull Okpara directly owns 27,749 shares of Bank of America Common Stock. This line is presented as a holding entry, not as a new purchase or sale.

Did the BAC Form 4 indicate trades under a Rule 10b5-1 plan?

No. The Form 4’s plan-related checkbox is not marked as a Rule 10b5-1 plan, and the footnotes describing the redemption do not reference any trading plan; the event is described as an issuer redemption of the preferred depositary shares.

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Available on EDGAR 09/04/2026 - 06:29 PM Accepted by SEC EDGAR 09/04/2026 - 06:29 PM Learn about SEC filing dates

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

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Okpara Johnbull

(Last) (First) (Middle)

100 NORTH TRYON STREET

(Street)

CHARLOTTE NORTH CAROLINA 28255

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
BANK OF AMERICA CORP /DE/ [ BAC ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/10/2026

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

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

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

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
Preferred Stock, Series DD(1)	03/10/2026		J(2)		50	D	$1,000	0	D
Common Stock								27,749	D

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. Depositary shares of Preferred Stock, Series DD each representing a 1/25th interest in a share.

2. All shares and depositary shares of Preferred Stock, Series DD were redeemed by the issuer, including the reported securities. The reported securities were called for redemption by the issuer at a price of $1,000.00 per depositary share. The redemption price did not include any accrued and unpaid dividends. Dividends on the redeemed depositary shares ceased to accrue on the redemption date.

	Johnbull Okpara / Michael P. Lapp POA	09/04/2026
	** 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)