Bank of America director granted phantom stock units
Bank of America director Lionel L. Nowell III received a grant of phantom stock units as annual board compensation.
Rhea-AI Filing Summary
Bank of America director Lionel L. Nowell III received a grant of phantom stock units as annual board compensation. He acquired 8,718.15 phantom stock units, each economically equivalent to one share of Bank of America common stock, under the company’s Director Deferral Plan in a transaction exempt under Rule 16b-3.
The phantom stock units, which may be settled in cash upon death or termination of service as a director, brought his total phantom stock holdings to 201,594.93 units. A separate entry shows he directly holds 3,930 shares of common stock. The filing also notes that 4,153.04 of the phantom units stem from dividend reinvestment within the plan.
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Insider Trade Summary
Grant/Award: 8,718.15 shares
Grant/Award
2 txns
Insider
NOWELL LIONEL L III
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Phantom Stock | 8,718.15 | $0.00 | $0.00 |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Phantom Stock — 201,594.93 contracts (Direct);
Common Stock — 3,930 shares (Direct)
Footnotes (3)
- F1. Each phantom stock unit is the economic equivalent of one share of Bank of America Corporation common stock.
- F2. Phantom stock units acquired represent payment of annual compensation for services as a director under the Bank of America Corporation Director Deferral Plan in transactions exempt under Rule 16b-3. Phantom stock units may be settled in cash upon death or termination of service as a director.
- F3. Includes 4,153.04 phantom stock units acquired in dividend reinvestment transactions under the Bank of America Corporation Director Deferral Plan.
Key Figures
Phantom stock units granted: 8,718.15 units
Phantom stock holdings after grant: 201,594.93 units
Common stock held directly: 3,930 shares
+2 more
5 metrics
Phantom stock units granted
8,718.15 units
Annual compensation grant on May 4, 2026
Phantom stock holdings after grant
201,594.93 units
Total phantom stock units following transaction
Common stock held directly
3,930 shares
Direct Bank of America common stock holdings
Dividend reinvestment phantom units
4,153.04 units
Phantom units from dividend reinvestment in the plan
Grant price per phantom unit
$0.0000 per unit
Compensation award under Director Deferral Plan
Key Terms
Phantom stock, Director Deferral Plan, Rule 16b-3, dividend reinvestment
4 terms
Phantom stock financial
"Each phantom stock unit is the economic equivalent of one share of Bank of America Corporation common stock."
A phantom stock is a form of compensation that gives employees or executives the benefits of stock ownership, such as the increase in stock value, without actually giving them real shares. It acts like a promise to pay the employee the equivalent value of company stock later, often as a bonus or incentive. This allows companies to motivate and reward staff without diluting ownership or transferring actual shares.
Director Deferral Plan financial
"Phantom stock units acquired represent payment of annual compensation for services as a director under the Bank of America Corporation Director Deferral Plan"
A director deferral plan lets board members delay receiving part or all of their pay—typically fees or equity—until a later date, with the deferred amount converted to cash or units that are paid out on a set future date or event. For investors, it signals how a company manages present cash flow and aligns directors’ interests with long-term performance, while creating future payment obligations or possible share dilution when those deferred amounts are settled—like choosing to take a future pension or stock grant instead of a paycheck today.
Rule 16b-3 regulatory
"in transactions exempt under Rule 16b-3."
Rule 16b-3 is a Securities and Exchange Commission regulation that exempts certain routine, pre-approved transactions by company insiders from automatic liability for short-term trading profits. It acts like a safe harbor: if an insider follows a formal plan or the board approves specific transactions in advance, profits from buying and selling company stock within six months are not automatically reclaimed. Investors care because the rule clarifies when insider trades are permissible and reduces uncertainty about potential clawbacks.
dividend reinvestment financial
"Includes 4,153.04 phantom stock units acquired in dividend reinvestment transactions under the Bank of America Corporation Director Deferral Plan."
Dividend reinvestment is when the money earned from a company's profit sharing, called dividends, is automatically used to buy more shares of that company instead of being received as cash. This process helps investors grow their holdings over time without extra effort, much like using earned interest to buy more of a savings account. It encourages long-term investment growth by continuously increasing the amount of shares owned.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did BANK OF AMERICA (BAC) director Lionel L. Nowell III report on this Form 4?
Lionel L. Nowell III reported receiving 8,718.15 phantom stock units as annual director compensation. These units are tied to Bank of America’s common stock value and were credited under the Director Deferral Plan in a transaction exempt under Rule 16b-3.
Is the BAC Form 4 for Lionel L. Nowell III an open-market stock purchase or sale?
The Form 4 shows a grant of 8,718.15 phantom stock units, not an open-market trade. The award represents deferred director compensation credited at a zero price per unit under the Director Deferral Plan, rather than a voluntary buy or sell in the market.
How many Bank of America phantom stock units does Lionel L. Nowell III hold after this transaction?
After the reported grant, Lionel L. Nowell III holds 201,594.93 phantom stock units. This total includes the newly acquired 8,718.15 units and 4,153.04 units accumulated through dividend reinvestment within the Bank of America Director Deferral Plan.
What are phantom stock units in the context of BAC’s Director Deferral Plan?
Each phantom stock unit is the economic equivalent of one Bank of America common share. Under the Director Deferral Plan, units track the stock’s value and may be settled in cash upon a director’s death or termination of board service, rather than delivering actual shares.
When can Lionel L. Nowell III’s Bank of America phantom stock units be settled?
The phantom stock units may be settled in cash upon his death or termination of service as a director. Until then, the units remain as deferred compensation tied to Bank of America’s common stock value under the Director Deferral Plan.
AI-generated analysis. How Rhea-AI works. Not financial advice.
