Bank of America (BAC) director Sharon Allen granted 5,365 phantom stock units
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Bank of America director Sharon L. Allen reported a routine update to her holdings. She now directly owns 99,927 shares of common stock. She also acquired 5,365.010 phantom stock units, economically equivalent to common shares, as annual director compensation under the Director Deferral Plan, bringing her phantom stock balance to 45,355.490 units, which may be settled in cash after her board service ends or upon death.
Positive
- None.
Negative
- None.
Insights
Routine director compensation grant with no open‑market trading.
This filing shows director Sharon L. Allen receiving 5,365.010 phantom stock units as annual compensation under the Director Deferral Plan. Each unit is the economic equivalent of one share of common stock and may be settled in cash after service ends.
The transaction is a grant/award acquisition, not an open‑market buy or sell, and is exempt under Rule 16b-3. Allen now holds 99,927 common shares directly and 45,355.490 phantom units, indicating this is standard board compensation rather than a change in investment stance.
Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
Allen Sharon L.
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Phantom Stock | 5,365.01 | $0.00 | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Phantom Stock — 45,355.49 shares (Direct);
Common Stock — 99,927 shares (Direct)
Footnotes (1)
- Each phantom stock unit is the economic equivalent of one share of Bank of America Corporation common stock. 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. Includes 861.08 phantom stock units acquired in dividend reinvestment transactions under the Bank of America Corporation Director Deferral Plan.
Key Figures
Common shares held: 99,927 shares
Phantom stock grant: 5,365.010 units
Total phantom stock units: 45,355.490 units
+1 more
4 metrics
Common shares held
99,927 shares
Direct ownership after transactions on 2026-05-04
Phantom stock grant
5,365.010 units
Annual director compensation under Director Deferral Plan
Total phantom stock units
45,355.490 units
Balance following 2026-05-04 grant and reinvestment
Dividend reinvestment units
861.08 units
Phantom units from dividend reinvestment 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
"under the Bank of America Corporation Director Deferral Plan in transactions exempt under Rule 16b-3."
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 861.08 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
What did Bank of America (BAC) director Sharon L. Allen report on this Form 4?
Sharon L. Allen reported her updated holdings, including a grant of phantom stock units as director compensation. She did not buy or sell shares on the market; the filing reflects routine, compensation-related equity accrual under Bank of America’s Director Deferral Plan.
How many phantom stock units did Sharon L. Allen receive from Bank of America (BAC)?
Sharon L. Allen received 5,365.010 phantom stock units as annual director compensation. These units, plus dividend reinvestment amounts, brought her total phantom stock holdings to 45,355.490 units, each economically equivalent to one Bank of America common share under the Director Deferral Plan.
What is Bank of America’s phantom stock for directors and how is it settled?
Bank of America’s phantom stock units track the value of one common share but are not actual shares. For directors like Sharon L. Allen, these units are awarded as compensation and may be settled in cash upon death or termination of service under the Director Deferral Plan.
Does this Bank of America (BAC) Form 4 show any open-market stock purchases or sales?
No, this Form 4 does not show open-market purchases or sales. It reports a grant of phantom stock units as director compensation and an updated common stock holding balance, indicating routine compensation-related changes rather than discretionary trading in Bank of America shares.
How are dividends handled on Sharon L. Allen’s Bank of America phantom stock units?
Dividends on Sharon L. Allen’s phantom stock units are reinvested into additional phantom units. The filing notes that 861.08 units were acquired through dividend reinvestment under the Director Deferral Plan, increasing her total phantom stock holdings in line with Bank of America dividend activity.