Bank of America (NYSE: BAC) grants major stock unit awards to top lawyer
Rhea-AI Filing Summary
Mogensen Lauren A reported acquisition or exercise transactions in this Form 4 filing.
Bank of America Corporation’s Global General Counsel, Lauren A. Mogensen, reported equity awards tied to the company’s stock. On 02/13/2026 she received 76,909 2026 Performance Restricted Stock Units, which can pay out between 0% and 150% of target based on three-year performance from January 1, 2026 through December 31, 2028, with any earned shares settling on March 1, 2029.
She also received two time-based 2026 Restricted Stock Unit grants covering 38,454 and 38,455 units, which vest in four equal annual installments starting February 15, 2027; one grant is settled in cash and the other in shares. After these awards, she directly beneficially owns 501,789 shares of Bank of America common stock.
Positive
- None.
Negative
- None.
Insider Trade Summary
4 transactions reported
Mixed
4 txns
Insider
Mogensen Lauren A
Role
Global General Counsel
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | 2026 Performance Restricted Stock Units | 76,909 | $0.00 | $0.00 |
| Grant/Award | 2026 Restricted Stock Units | 38,454 | $0.00 | $0.00 |
| Grant/Award | 2026 Restricted Stock Units | 38,455 | $0.00 | $0.00 |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
2026 Performance Restricted Stock Units — 76,909 shares (Direct);
2026 Restricted Stock Units — 76,909 shares (Direct);
Common Stock — 501,789 shares (Direct)
Footnotes (5)
- F1. Each unit represents a contingent right to receive one share of Bank of America Corporation common stock.
- F2. Award under the Bank of America Corporation Equity Plan in a transaction that is exempt under Rule 16b-3(d). These units are subject to the attainment of pre-established performance goals. One-half of the units have performance goals based on the Company's three-year average return on assets and one-half of the units have performance goals based on the Company's three-year average growth in adjusted tangible book value, both beginning on January 1, 2026 and ending December 31, 2028. To the extent earned, the award will be settled in shares on March 1, 2029. The reported number of units represents the "target" amount of the award (i.e., 100%); the actual award upon vesting may range between 0% and 150% of the target, depending upon satisfaction of the performance goals.
- F3. Each unit is the economic equivalent of one share of Bank of America Corporation common stock.
- F4. Award under the Bank of America Corporation Equity Plan in a transaction that is exempt under Rule 16b-3(d). These units are settled in cash and vest in four equal annual installments commencing February 15, 2027.
- F5. Award under the Bank of America Corporation Equity Plan in a transaction that is exempt under Rule 16b-3(d). These units are settled in shares and vest in four equal annual installments commencing February 15, 2027.
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FAQ
What insider transactions did BAC’s Global General Counsel report on this Form 4?
Lauren A. Mogensen reported receiving three equity awards tied to Bank of America common stock: 76,909 2026 Performance Restricted Stock Units and two 2026 Restricted Stock Unit grants for 38,454 and 38,455 units, all awarded on February 13, 2026 under the company’s equity plan.
How do the 2026 Performance Restricted Stock Units for BAC’s Lauren Mogensen work?
The 76,909 2026 Performance Restricted Stock Units represent a target award. Actual payout, in shares on March 1, 2029, can range from 0% to 150% of target based on Bank of America’s three-year average return on assets and adjusted tangible book value growth from 2026-2028.
When do Lauren Mogensen’s 2026 Restricted Stock Units at BAC vest?
Both 2026 Restricted Stock Unit grants, for 38,454 and 38,455 units, vest in four equal annual installments beginning February 15, 2027. One award is settled in cash and the other in shares, all under Bank of America’s equity plan exempt under Rule 16b-3(d).
Are Lauren Mogensen’s BAC equity awards open-market purchases or grants?
They are grants, not open-market purchases. The Form 4 lists transaction code “A” for all derivative transactions, indicating awards or other acquisitions under Bank of America’s equity plan, rather than stock bought on the market, and notes Rule 16b-3(d) exemptions for these transactions.
What performance metrics determine Lauren Mogensen’s BAC performance stock unit payout?
Half of the 2026 Performance Restricted Stock Units depend on Bank of America’s three-year average return on assets, and half on three-year average growth in adjusted tangible book value, measured from January 1, 2026 through December 31, 2028, determining between 0% and 150% of target payout.