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Bank of America (NYSE: BAC) grants 2026 stock unit awards to co-president

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Bank of America Corporation Co-President James P. DeMare reported equity awards tied to future performance and service. On 02/13/2026, he acquired 192,273 2026 Performance Restricted Stock Units, each representing a contingent right to one share of common stock. These units are subject to performance goals measured from January 1, 2026 through December 31, 2028 and, to the extent earned, will be settled in shares on March 1, 2029, with the actual payout ranging from 0% to 150% of the 192,273-unit target.

He also acquired two service-based awards of 2026 Restricted Stock Units: 96,136 units that are settled in cash and 96,137 units that are settled in shares, each vesting in four equal annual installments commencing February 15, 2027. Separately, the filing notes indirect beneficial ownership of 223,407 shares of Bank of America common stock held through a revocable trust.

Positive

  • None.

Negative

  • None.
Insider DeMare James P
Role Co-President
Type Security Shares Price Value
Grant/Award 2026 Performance Restricted Stock Units 192,273 $0.00 $0.00
Grant/Award 2026 Restricted Stock Units 96,136 $0.00 $0.00
Grant/Award 2026 Restricted Stock Units 96,137 $0.00 $0.00
holding Common Stock -- -- --
Holdings After Transaction: 2026 Performance Restricted Stock Units — 192,273 shares (Direct); 2026 Restricted Stock Units — 192,273 shares (Direct); Common Stock — 223,407 shares (Indirect, Revocable Trust)
Footnotes (5)
  1. F1. Each unit represents a contingent right to receive one share of Bank of America Corporation common stock.
  2. F2. Award under the Bank of America Corporation Equity Plan in a transaction that is exempt under Rule 16b-3(d). These units are subject to the attainment of pre-established performance goals. One-half of the units have performance goals based on the Company's three-year average return on assets and one-half of the units have performance goals based on the Company's three-year average growth in adjusted tangible book value, both beginning on January 1, 2026 and ending December 31, 2028. To the extent earned, the award will be settled in shares on March 1, 2029. The reported number of units represents the "target" amount of the award (i.e., 100%); the actual award upon vesting may range between 0% and 150% of the target, depending upon satisfaction of the performance goals.
  3. F3. Each unit is the economic equivalent of one share of Bank of America Corporation common stock.
  4. F4. Award under the Bank of America Corporation Equity Plan in a transaction that is exempt under Rule 16b-3(d). These units are settled in cash and vest in four equal annual installments commencing February 15, 2027.
  5. F5. Award under the Bank of America Corporation Equity Plan in a transaction that is exempt under Rule 16b-3(d). These units are settled in shares and vest in four equal annual installments commencing February 15, 2027.

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FAQ

What does the BAC Form 4 for James P. DeMare report?
The Form 4 reports equity awards granted to Bank of America Co-President James P. DeMare. He received 2026 performance-based and time-based restricted stock units, plus the filing lists 223,407 common shares held indirectly through a revocable trust.

How many 2026 Performance Restricted Stock Units did BAC grant to James P. DeMare?
James P. DeMare was granted 192,273 2026 Performance Restricted Stock Units. Each unit represents a contingent right to one share of Bank of America common stock, with actual payout between 0% and 150% of this target based on performance goals.

What performance goals apply to James P. DeMare’s 2026 BAC performance units?
The 2026 performance units are tied to two three-year metrics. Half depend on the company’s three-year average return on assets, and half on three-year average growth in adjusted tangible book value, measured from January 1, 2026 through December 31, 2028.

When will James P. DeMare’s 2026 BAC performance units be settled?
The 2026 Performance Restricted Stock Units will be settled on March 1, 2029. To the extent earned under the performance goals covering 2026–2028, the award will be delivered in Bank of America common shares on that settlement date.

How do the 2026 BAC Restricted Stock Units for James P. DeMare vest and settle?
Two 2026 Restricted Stock Unit grants vest in four annual installments. The 96,136-unit award is settled in cash and the 96,137-unit award in shares, with both beginning vesting on February 15, 2027 under the company’s equity plan.

How many BAC common shares does James P. DeMare hold through a revocable trust?
The filing reports 223,407 Bank of America common shares beneficially owned indirectly through a revocable trust. This reflects indirect ownership as of the reported date and is separate from the newly granted 2026 performance and restricted stock unit awards.
SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response: 0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
1. Name and Address of Reporting Person*
DeMare James P
(Last) (First) (Middle)
100 NORTH TRYON STREET
(Street)
CHARLOTTE NC 28255
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
BANK OF AMERICA CORP /DE/ [ BAC ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
Co-President
3. Date of Earliest Transaction (Month/Day/Year)
02/13/2026
4. If Amendment, Date of Original Filed (Month/Day/Year)
 6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 223,407 I Revocable Trust
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
2026 Performance Restricted Stock Units (1) 02/13/2026 A 192,273 (2) (2) Common Stock 192,273 (1) 192,273 D
2026 Restricted Stock Units (3) 02/13/2026 A 96,136 (4) 02/15/2030 Common Stock 96,136 (3) 96,136 D
2026 Restricted Stock Units (1) 02/13/2026 A 96,137 (5) 02/15/2030 Common Stock 96,137 (1) 96,137 D
Explanation of Responses:
1. Each unit represents a contingent right to receive one share of Bank of America Corporation common stock.
2. Award under the Bank of America Corporation Equity Plan in a transaction that is exempt under Rule 16b-3(d). These units are subject to the attainment of pre-established performance goals. One-half of the units have performance goals based on the Company's three-year average return on assets and one-half of the units have performance goals based on the Company's three-year average growth in adjusted tangible book value, both beginning on January 1, 2026 and ending December 31, 2028. To the extent earned, the award will be settled in shares on March 1, 2029. The reported number of units represents the "target" amount of the award (i.e., 100%); the actual award upon vesting may range between 0% and 150% of the target, depending upon satisfaction of the performance goals.
3. Each unit is the economic equivalent of one share of Bank of America Corporation common stock.
4. Award under the Bank of America Corporation Equity Plan in a transaction that is exempt under Rule 16b-3(d). These units are settled in cash and vest in four equal annual installments commencing February 15, 2027.
5. Award under the Bank of America Corporation Equity Plan in a transaction that is exempt under Rule 16b-3(d). These units are settled in shares and vest in four equal annual installments commencing February 15, 2027.
James P. DeMare / Michael P. Lapp POA 02/13/2026
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

Source: View Original Filing on SEC EDGAR