Bank of America (NYSE: BAC) co-president exercises RSUs, uses shares for tax
Rhea-AI Filing Summary
BANK OF AMERICA CORP Co‑President James P. DeMare reported a series of equity compensation transactions dated February 15, 2026. He exercised multiple grants of restricted stock units, which convert on a one‑for‑one basis into common stock, including 2022, 2023, 2024 and 2025 awards.
The filing shows related movements in Common Stock held indirectly through a revocable trust. Several transactions coded “M” reflect derivative exercises or conversions, while entries coded “F” and “D” reflect shares delivered to the issuer to cover tax withholding and other obligations rather than open‑market sales. After these transactions, the revocable trust held 324,078 shares of Bank of America common stock.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Buyer: 100,671 shares
Net Buy
21 txns
Insider
DeMare James P
Role
Co-President
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | 2022 Restricted Stock Units | 63,064 | $0.00 | $0.00 |
| Exercise | 2023 Restricted Stock Units | 37,469 | $0.00 | $0.00 |
| Exercise | Restricted Stock Units | 75,000 | $0.00 | $0.00 |
| Exercise | 2024 Restricted Stock Units | 26,324 | $0.00 | $0.00 |
| Exercise | 2024 Restricted Stock Units | 26,324 | $0.00 | $0.00 |
| Exercise | 2025 Restricted Stock Units | 23,365 | $0.00 | $0.00 |
| Exercise | 2025 Restricted Stock Units | 23,365 | $0.00 | $0.00 |
| Exercise | Common Stock | 63,064 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | Common Stock | 34,875 | $52.55 | $1.83M |
| Exercise | Common Stock | 37,469 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | Common Stock | 20,721 | $52.55 | $1.09M |
| Exercise | Common Stock | 75,000 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | Common Stock | 41,476 | $52.55 | $2.18M |
| Exercise | Common Stock | 26,324 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | Common Stock | 14,558 | $52.55 | $765K |
| Exercise | Common Stock | 26,324 | $0.00 | $0.00 |
| Disposition | Common Stock | 26,324 | $52.55 | $1.38M |
| Exercise | Common Stock | 23,365 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | Common Stock | 12,921 | $52.55 | $679K |
| Exercise | Common Stock | 23,365 | $0.00 | $0.00 |
| Disposition | Common Stock | 23,365 | $52.55 | $1.23M |
Holdings After Transaction:
2022 Restricted Stock Units — 0 shares (Direct);
2023 Restricted Stock Units — 37,469 shares (Direct);
Restricted Stock Units — 75,000 shares (Direct);
2024 Restricted Stock Units — 105,296 shares (Direct);
2025 Restricted Stock Units — 140,196 shares (Direct);
Common Stock — 324,078 shares (Indirect, Revocable Trust)
Footnotes (10)
- F1. Each unit represents a contingent right to receive one share of Bank of America Corporation common stock.
- F2. Disposition of shares to the issuer to satisfy a tax withholding obligation.
- F3. Each unit is the economic equivalent of one share of Bank of America Corporation common stock.
- F4. On February 15, 2022, the reporting person was granted units, vesting in four equal annual installments commencing on February 15, 2023.
- F5. On February 15, 2023, the reporting person was granted units, vesting in four equal annual installments commencing on February 15, 2024.
- F6. On February 15, 2023, the reporting person was granted units, vesting in two equal annual installments commencing on February 15, 2026.
- F7. On February 15, 2024, the reporting person was granted units, vesting in shares in four equal annual installments commencing on February 15, 2025.
- F8. On February 15, 2024, the reporting person was granted units, vesting in cash in four equal annual installments commencing on February 15, 2025.
- F9. On February 14, 2025, the reporting person was granted units, vesting in shares in four equal annual installments commencing on February 15, 2026.
- F10. On February 14, 2025, the reporting person was granted units, vesting in cash in four equal annual installments commencing on February 15, 2026.
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FAQ
What did BAC Co-President James P. DeMare report in this Form 4 filing?
James P. DeMare reported exercising several restricted stock unit awards into Bank of America common stock on February 15, 2026. The transactions reflect equity compensation vesting and conversion, along with share dispositions to the issuer to satisfy related tax withholding and other obligations.
Were there open-market stock sales in James P. DeMare’s BAC Form 4?
The Form 4 lists dispositions coded “F” and “D,” which indicate shares delivered to Bank of America to cover tax withholding or as a disposition to the issuer. These codes do not represent open‑market sales but rather administrative transactions tied to equity award exercises.
What types of securities were involved in James P. DeMare’s BAC Form 4?
The filing involves 2022, 2023, 2024 and 2025 restricted stock units, plus Bank of America common stock. Each unit is the economic equivalent of one common share and converts into stock as the awards vest according to their specified multi‑year installment schedules.
How were tax obligations handled in this BAC Form 4 for James P. DeMare?
The Form 4 shows several transactions coded “F,” described as payment of tax liabilities by delivering securities. These entries indicate that a portion of the vested shares was withheld and delivered to Bank of America at $52.55 per share to satisfy withholding obligations.
What do the vesting schedules in James P. DeMare’s BAC awards indicate?
Footnotes explain that different restricted stock unit grants vest in equal annual installments over two or four years, beginning on specified February dates. Some units vest in shares and others in cash, defining when DeMare receives stock or cash value as compensation.