Bank of America director awarded phantom stock
Bank of America director Michael D. White received a grant of 5,365.01 phantom stock units, representing annual compensation for board service under the Bank of America Corporation Director Deferral Plan.
Rhea-AI Filing Summary
Bank of America director Michael D. White received a grant of 5,365.01 phantom stock units, representing annual compensation for board service under the Bank of America Corporation Director Deferral Plan. Each phantom stock unit is the economic equivalent of one share of Bank of America common stock and may be settled in cash upon death or termination of service as a director.
Following this award, White holds 103,942.38 phantom stock units, which include 2,122.58 units acquired through dividend reinvestment transactions. He also reports ownership of 79,150 shares of common stock held directly and 6,500 shares held indirectly through an IRA.
Positive
- None.
Negative
- None.
Insider Trade Summary
Grant/Award: 5,365.01 shares
Grant/Award
3 txns
Insider
WHITE MICHAEL D
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Phantom Stock | 5,365.01 | $0.00 | $0.00 |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Phantom Stock — 103,942.38 contracts (Direct);
Common Stock — 79,150 shares (Direct);
Common Stock — 6,500 shares (Indirect, IRA)
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 2,122.58 phantom stock units acquired in dividend reinvestment transactions under the Bank of America Corporation Director Deferral Plan.
Key Figures
Phantom stock units granted: 5,365.01 units
Total phantom stock units held: 103,942.38 units
Phantom units from dividend reinvestment: 2,122.58 units
+3 more
6 metrics
Phantom stock units granted
5,365.01 units
Annual director compensation grant on May 4, 2026
Total phantom stock units held
103,942.38 units
Balance following the reported grant
Phantom units from dividend reinvestment
2,122.58 units
Accumulated via dividend reinvestment under Director Deferral Plan
Direct common stock holdings
79,150 shares
Common stock held directly after transactions
Indirect common stock holdings (IRA)
6,500 shares
Common stock held indirectly through an IRA
Phantom stock unit price
$0.00 per unit
Grant price for phantom stock acquisition
Key Terms
phantom stock units, Bank of America Corporation Director Deferral Plan, Rule 16b-3, dividend reinvestment transactions, +1 more
5 terms
phantom stock units financial
"Each phantom stock unit is the economic equivalent of one share of Bank of America Corporation common stock."
Phantom stock units are company promises that pay a cash or stock-equivalent award tied to the firm’s share price or value growth, but they do not issue actual shares. Think of them as a bonus check that moves with the stock like a mirror rather than handing over an ownership slice. Investors care because these awards can affect a company’s future cash obligations, executive incentives and reported expenses without causing share dilution.
Bank of America Corporation 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"
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 transactions financial
"Includes 2,122.58 phantom stock units acquired in dividend reinvestment transactions under the Bank of America Corporation Director Deferral Plan."
phantom stock financial
"Phantom stock units may be settled in cash upon death or termination of service as a director."
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.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did BAC director Michael D. White report in this Form 4 filing?
Michael D. White reported receiving 5,365.01 phantom stock units as annual director compensation. These units are tied to Bank of America’s Director Deferral Plan and are economically equivalent to common shares, but are typically settled in cash at or after service termination.
How many phantom stock units does BAC director Michael D. White now hold?
After the reported grant, Michael D. White holds 103,942.38 phantom stock units. This balance includes units granted as compensation and 2,122.58 units accumulated through dividend reinvestment transactions under the Bank of America Corporation Director Deferral Plan.
What are phantom stock units in the Bank of America (BAC) Director Deferral Plan?
Each phantom stock unit is the economic equivalent of one Bank of America common share. Units are credited as compensation or via dividend reinvestment and may be settled in cash upon the director’s death or termination of service, rather than delivered as actual company stock.
How much Bank of America common stock does Michael D. White own directly and indirectly?
Michael D. White reports 79,150 Bank of America common shares held directly and 6,500 shares held indirectly through an IRA. These holdings are separate from his 103,942.38 phantom stock units, which track the stock’s value but are typically settled in cash.
How were some of Michael D. White’s BAC phantom stock units acquired?
The filing notes that 2,122.58 of Michael D. White’s phantom stock units were acquired through dividend reinvestment transactions. These occurred under the Bank of America Corporation Director Deferral Plan, where dividends on deferred amounts are reinvested into additional phantom stock units.
Is Michael D. White’s phantom stock award treated as routine compensation at Bank of America (BAC)?
The filing describes the 5,365.01 phantom stock units as payment of annual compensation for services as a director. The transactions are made under the Bank of America Corporation Director Deferral Plan and are identified as exempt under Rule 16b-3, reflecting a structured compensation arrangement.
AI-generated analysis. How Rhea-AI works. Not financial advice.
