Bank of America (BAC) executive logs equity award vesting and share disposition
Rhea-AI Filing Summary
Bank of America executive Bernard A. Mensah, President, International, reported several equity compensation events on March 1, 2026. He exercised or converted derivative awards, including 1,432 vested phantom stock units, 17,521 2023 performance restricted stock units, and 17,521 vested restricted stock units, all at a stated price of $0.00 per share as they settled into common stock. Following these transactions, his directly held common stock position was 264,184 shares. The filing also shows a disposition of 1,432 common shares to the issuer at $49.83 per share, reflecting shares delivered back to Bank of America rather than an open-market sale.
Positive
- None.
Negative
- None.
Insider Trade Summary
36,474 shares exercised/converted
Exercise
5 txns
Insider
Mensah Bernard A
Role
President, International
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Vested Phantom Stock Units | 1,432 | $0.00 | $0.00 |
| Exercise | 2023 Performance Restricted Stock Units | 17,521 | $0.00 | $0.00 |
| Exercise | Vested Restricted Stock Units | 17,521 | $0.00 | $0.00 |
| Exercise | Common Stock | 1,432 | $0.00 | $0.00 |
| Disposition | Common Stock | 1,432 | $49.83 | $71K |
Holdings After Transaction:
Vested Phantom Stock Units — 0 shares (Direct);
2023 Performance Restricted Stock Units — 70,087 shares (Direct);
Vested Restricted Stock Units — 17,521 shares (Direct);
Common Stock — 264,184 shares (Direct)
Footnotes (4)
- F1. Each phantom stock unit is the economic equivalent of one share of Bank of America Corporation common stock.
- F2. On March 1, 2018, the reporting person was granted phantom units, vesting in five equal annual installments commencing on March 1, 2021. The net amount of each installment after any applicable tax withholding is subject to an additional twelve-month holding period after vesting.
- F3. Each unit represents a contingent right to receive one share of Bank of America Corporation common stock.
- F4. On February 15, 2023, the reporting person was granted units, subject to the Company's attainment of 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, 2023 and ending December 31, 2025. For the performance period, an amount equaling 100% of the target was earned. All units earned will be settled in shares and vest in five equal annual installments commencing on March 1, 2026. The net amount of each installment after any applicable tax withholding is subject to an additional twelve-month holding period after vesting.
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FAQ
What insider transactions did BAC executive Bernard Mensah report?
Bernard A. Mensah reported equity compensation activity, including exercises of phantom and restricted stock units and a small share disposition to Bank of America. These transactions largely reflect vesting and settlement of existing awards, not open‑market buying or selling.
What are the 2023 performance restricted stock units mentioned for BAC?
The 2023 performance restricted stock units represent a contingent right to receive Bank of America common shares, earned based on three‑year performance goals. For the performance period beginning January 1, 2023 and ending December 31, 2025, 100% of the target amount was earned.
How do Bank of America phantom stock units work in this Form 4?
Each Bank of America phantom stock unit is economically equivalent to one share of common stock. The Form 4 notes these units were granted in 2018, vesting in five equal annual installments, with each installment subject to a further twelve‑month holding period after vesting.