Maria Martinez at Bank of America (NYSE: BAC) receives 5,365 shares
Rhea-AI Filing Summary
Martinez Maria reported acquisition or exercise transactions in this Form 4 filing.
Bank of America director Maria Martinez received a grant of 5,365 shares of common stock as annual compensation for board service under the Bank of America Corporation Equity Plan, in a transaction exempt under Rule 16b-3. The award was recorded at a price of $0.00 per share and increased her direct holdings to 13,984 common shares. A separate entry reports 465 common shares held indirectly by a trust.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Buyer: 5,365 shares
Net Buy
2 txns
Insider
Martinez Maria
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 5,365 | $0.00 | $0.00 |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 13,984 shares (Direct);
Common Stock — 465 shares (Indirect, by Trust)
Footnotes (1)
- F1. Shares represent payment of annual compensation for services as a director under the Bank of America Corporation Equity Plan in transactions exempt under Rule 16b-3.
Key Figures
Director equity grant: 5,365 shares
Grant price: $0.00 per share
Direct holdings after grant: 13,984 shares
+1 more
4 metrics
Director equity grant
5,365 shares
Common stock grant as annual director compensation
Grant price
$0.00 per share
Recorded price for equity compensation award
Direct holdings after grant
13,984 shares
Bank of America common stock held directly by Martinez
Indirect trust holdings
465 shares
Bank of America common stock held indirectly by trust
Key Terms
Rule 16b-3, Equity Plan, grant, award, or other acquisition, indirect ownership
4 terms
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.
Equity Plan financial
"under the Bank of America Corporation Equity Plan"
An equity plan is a company program that gives employees, executives or directors a stake in the business through stock, stock options or similar ownership awards, like handing out slices of a pie to people who help bake it. It matters to investors because these grants can motivate key personnel and align their interests with shareholders, but they also increase the number of shares over time and can dilute existing ownership and affect reported earnings.
grant, award, or other acquisition financial
"transaction code description: Grant, award, or other acquisition"
indirect ownership financial
"direct_or_indirect: I, nature_of_ownership: by Trust"
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What did Bank of America (BAC) director Maria Martinez report in this Form 4?
Maria Martinez reported receiving 5,365 Bank of America common shares as annual director compensation. The shares were granted under the Bank of America Corporation Equity Plan and are recorded at $0.00 per share as a compensation award, not as an open-market stock purchase.
What is the significance of Rule 16b-3 in Maria Martinez’s Bank of America Form 4?
Rule 16b-3 allows certain insider transactions, like equity compensation awards, to be exempt from short-swing profit rules. The footnote explains Martinez’s 5,365-share grant represents annual director compensation under the Equity Plan in transactions specifically exempt under Rule 16b-3’s provisions.