JPMorgan (JPM) Chief Risk Officer awarded 18,108 RSUs with 2028–2029 vesting

Rhea-AI Filing Summary

JPMorgan Chase & Co. granted Chief Risk Officer Ashley Bacon 18,108 restricted stock units (RSUs) on January 20, 2026. Each RSU represents a contingent right to receive one share of JPMorgan Chase common stock. The award reflects 50% of Bacon's equity-based incentive compensation for performance year 2025, with the remaining 50% granted as performance share units.

The 18,108 RSUs vest in two equal installments: 50% on January 13, 2028 and 50% on January 13, 2029. The equity incentives are subject to the firm's bonus recoupment policy, recapture provisions that allow cancellation or recovery of value in specified circumstances, and additional protection-based vesting provisions for Operating Committee members that may lead to cancellation subject to board committee ratification.

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

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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^*

BACON ASHLEY

(Last) (First) (Middle)

270 PARK AVENUE

(Street)

NEW YORK NY 10017-2014

(City) (State) (Zip)

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)
	Chief Risk Officer

3. Date of Earliest Transaction (Month/Day/Year)
01/20/2026

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

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
Restricted Stock Units(1)	(2)	01/20/2026		A(3)		18,108		(4)	01/13/2029	Common Stock	18,108	$0.0000	18,108	D

Explanation of Responses:

1. Consistent with last year, Restricted Stock Units (RSUs) represent 50% of the Reporting Person's equity-based incentive compensation for performance year 2025, with the remaining 50% awarded in the form of Performance Share Units (PSUs).

2. Each RSU represents a contingent right to receive one share of JPMC common stock.

3. Equity incentives are subject to the JPMorgan Chase Bonus Recoupment Policy which applies in the event of a material restatement of the Firm's financial statements. In addition, all equity awards granted in 2026 contain recapture provisions that enable the Firm to cancel outstanding awards and/or recover the value of certain stock distributed under the award in specified circumstances. In addition to recapture provisions, portions of equity awards granted to Operating Committee members are also subject to additional Protection-Based Vesting provisions under which awards may be cancelled, any determination with respect to which is subject to ratification by the Compensation & Management Development Committee of the Board of Directors.

4. RSUs vest 50% on January 13, 2028 and 50% on January 13, 2029.

	/s/ Holly Youngwood under POA	01/22/2026
	** Signature of Reporting Person	Date
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FAQ

What insider transaction did JPM (JPMorgan Chase & Co.) report for Ashley Bacon?

The company reported that Chief Risk Officer Ashley Bacon received an award of 18,108 restricted stock units (RSUs) on January 20, 2026, recorded as an acquisition of derivative securities at a price of $0.0000 per unit.

How many JPM restricted stock units did Ashley Bacon receive in this Form 4 filing?

Ashley Bacon was granted 18,108 restricted stock units, with 18,108 derivative securities beneficially owned following the reported transaction, all held in direct ownership form.

What does each JPM RSU in Ashley Bacon’s award represent?

Each RSU in this award represents a contingent right to receive one share of JPMorgan Chase common stock, meaning the shares will be delivered only if the vesting conditions are met.

When do Ashley Bacon’s JPM RSUs vest?

The 18,108 RSUs vest in two equal tranches: 50% on January 13, 2028 and 50% on January 13, 2029, assuming the vesting conditions are satisfied.

How is Ashley Bacon’s 2025 equity incentive at JPM structured between RSUs and PSUs?

For performance year 2025, the filing states that RSUs represent 50% of the reporting person’s equity-based incentive compensation, with the remaining 50% awarded as Performance Share Units (PSUs).

What recoupment or cancellation provisions apply to these JPM RSU awards?

The equity incentives are subject to JPMorgan Chase’s Bonus Recoupment Policy in the event of a material financial restatement, recapture provisions allowing the firm to cancel awards or recover stock value in specified circumstances, and protection-based vesting provisions for Operating Committee members that may result in cancellation subject to Compensation & Management Development Committee ratification.