JPMorgan GC Stacey Friedman sells 5,468 shares

JPMorgan Chase & Co. General Counsel Stacey Friedman reported an open-market sale of 5,468 shares of common stock at $300.2662 per share.

Rhea-AI Filing Summary

JPMorgan Chase & Co. General Counsel Stacey Friedman reported an open-market sale of 5,468 shares of common stock at $300.2662 per share. The transaction was a direct sale, leaving her with 46,428 directly held shares.

She also reports indirect holdings of 16,196 shares held by a trust and 79,468 shares held by a Grantor Retained Annuity Trust. A footnote explains prior transfers among a GRAT, the grantor, and a family trust that were exempt under Rule 16a-13, which are reflected in the reported balances.

Insights

Insider transactions analyst

Filing shows a sizable but routine open-market sale with substantial remaining holdings.

General Counsel Stacey Friedman sold 5,468 shares of JPMorgan Chase & Co. common stock in an open-market transaction at $300.2662 per share. This is a clear discretionary sale rather than a tax or grant-related event, since it uses the S code for open-market disposition.

After the sale, she still directly owns 46,428 shares, and indirectly holds additional shares through a trust and a Grantor Retained Annuity Trust. A detailed footnote describes several exempt transfers among GRATs, a family trust, and the grantor under Rule 16a-13, indicating much of the recent activity involved estate or wealth-planning structures rather than incremental market buying or selling.

Insider Trade Summary 10b5-1

Net Seller: 5,468 shares

Net Sell 3 txns

Insider Friedman Stacey

Role General Counsel

Sold 5,468 shs ($1.64M)

Type	Security	Shares	Price	Value
Sale	Common Stock	5,468	$300.2662	$1.64M
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 46,428 shares (Direct); Common Stock — 79,468 shares (Indirect, By GRAT); Common Stock — 16,196 shares (Indirect, By Trust)

Footnotes (1)

1. F1. Balances reflect a) 9,204 shares transferred from a Grantor Retained Annuity Trust ("GRAT") to the Grantor on May 8, 2026; b) 7,517 shares transferred from a GRAT to the Grantor on May 8, 2026; c) 2,592 shares transferred from a GRAT to a Family Trust on May 11, 2026; d) 17,553 shares transferred from a GRAT to the Grantor on May 14, 2026; and e) 54,385 shares transferred from the Grantor to fund a GRAT on May 15, 2026. These transactions are exempt from Section 16(b) pursuant to Rule 16a-13.

Key Figures

Shares sold: 5,468 shares Sale price per share: $300.2662 per share Direct holdings after sale: 46,428 shares +2 more

5 metrics

Shares sold 5,468 shares Open-market sale of common stock

Sale price per share $300.2662 per share Open-market sale transaction price

Direct holdings after sale 46,428 shares Common stock directly owned following transaction

Trust indirect holdings 16,196 shares Common stock held indirectly by trust

GRAT indirect holdings 79,468 shares Common stock held indirectly by Grantor Retained Annuity Trust

Key Terms

Grantor Retained Annuity Trust, GRAT, Family Trust, Section 16(b), +1 more

5 terms

Grantor Retained Annuity Trust financial

"shares transferred from a Grantor Retained Annuity Trust ("GRAT") to the Grantor"

A grantor retained annuity trust (GRAT) is an estate-planning tool where the person who creates the trust transfers assets into it but receives fixed cash payments (an annuity) from the trust for a set number of years; whatever remains after that term passes to designated beneficiaries. It matters to investors because it can shift future appreciation of assets out of the creator’s taxable estate—like putting an asset into a timed vending machine that pays you fixed amounts while any extra value that grows inside the machine goes to heirs with reduced gift or estate tax consequences.

GRAT financial

"shares transferred from a GRAT to the Grantor on May 8, 2026"

Family Trust financial

"shares transferred from a GRAT to a Family Trust on May 11, 2026"

Section 16(b) regulatory

"These transactions are exempt from Section 16(b) pursuant to Rule 16a-13."

A federal rule that requires company insiders—like officers, directors and large shareholders—to return any profits made from buying and selling the company’s stock within a six-month window. It matters to investors because it discourages short-term trades that could exploit non-public information and helps protect outside shareholders by creating a simple, enforceable way to recover unfair gains, much like a rule stopping someone from flipping a limited-edition item for quick profit after getting early access.

Rule 16a-13 regulatory

"These transactions are exempt from Section 16(b) pursuant to Rule 16a-13."

FAQ

What insider transaction did JPM (JPMorgan Chase & Co.) report for Stacey Friedman?

JPMorgan Chase & Co. reported that General Counsel Stacey Friedman sold 5,468 shares of common stock in an open-market transaction at $300.2662 per share. The filing also updates her remaining direct and indirect shareholdings after this sale.

How many JPM shares does Stacey Friedman hold after this Form 4 filing?

After the reported sale, Stacey Friedman directly holds 46,428 JPMorgan Chase & Co. shares. She also reports 16,196 shares held indirectly by a trust and 79,468 shares held indirectly by a Grantor Retained Annuity Trust, according to the filing’s ownership table.

Was Stacey Friedman’s JPM share transaction a market sale or another type of event?

The filing classifies Stacey Friedman’s transaction as an open-market sale using transaction code S. This means she sold 5,468 JPMorgan Chase & Co. common shares directly into the market, rather than through grants, gifts, or tax-withholding mechanisms.

What does the Form 4 say about Stacey Friedman’s indirect JPM holdings?

The Form 4 lists indirect ownership of 16,196 JPMorgan shares held by a trust and 79,468 shares held by a Grantor Retained Annuity Trust. These balances incorporate several exempt transfers among GRATs, a family trust, and the grantor, as described in the footnote referencing Rule 16a-13.

How are the GRAT and family trust transfers described in the JPM Form 4 footnote?

The footnote explains multiple transfers of JPM shares between Grantor Retained Annuity Trusts, the grantor, and a family trust during May 2026. It states these transactions are exempt from Section 16(b) under Rule 16a-13 and that the reported balances reflect the impact of those transfers.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/20/2026 - 04:54 PM Learn about SEC filing dates

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).

X

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^*

Friedman Stacey

(Last) (First) (Middle)

270 PARK AVENUE

(Street)

NEW YORK NEW YORK 10017-2014

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
JPMORGAN CHASE & CO [ JPM ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	General Counsel

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/20/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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	05/20/2026		S		5,468	D	$300.2662	46,428(1)	D
Common Stock								79,468(1)	I	By GRAT
Common Stock								16,196(1)	I	By 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

Explanation of Responses:

1. Balances reflect a) 9,204 shares transferred from a Grantor Retained Annuity Trust ("GRAT") to the Grantor on May 8, 2026; b) 7,517 shares transferred from a GRAT to the Grantor on May 8, 2026; c) 2,592 shares transferred from a GRAT to a Family Trust on May 11, 2026; d) 17,553 shares transferred from a GRAT to the Grantor on May 14, 2026; and e) 54,385 shares transferred from the Grantor to fund a GRAT on May 15, 2026. These transactions are exempt from Section 16(b) pursuant to Rule 16a-13.

Remarks:

poafriedman.txt

	/s/ Denise G. Connors under POA	05/20/2026
	** 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.
* Form 4: SEC 1474 (03-26)