[Form 4] Inverse VIX Short-Term Futures ETNs due March 22, 2045 Insider Trading Activity

Rhea-AI Filing Summary

Insider sale reported by Linda Bammann, a director of JPMorgan Chase & Co. On 09/02/2025 she sold 9,500 shares of JPMorgan common stock at $297.9444 per share under a Rule 10b5-1 plan, reducing her beneficial ownership to 82,207.3407 shares. The Form 4 was signed under power of attorney by Holly Youngwood on 09/02/2025.

Positive

• Transaction executed under a Rule 10b5-1 plan, indicating a prearranged trading plan that can provide an affirmative defense
• Timely disclosure filed on the same date as the transaction (09/02/2025) and signed under POA

Negative

• Reduction in director's beneficial ownership by 9,500 shares to 82,207.3407 shares
• No additional context provided in this filing about the reason for the sale or the 10b5-1 plan adoption date

Insights

Corporate Governance Expert

TL;DR: Routine, prearranged director sale under a 10b5-1 plan; complies with reporting rules and reduces director stake modestly.

This transaction is a typical Section 16 disclosure of an insider sale executed pursuant to a 10b5-1 trading plan, which provides an affirmative defense against insider trading claims when properly adopted. The sale of 9,500 shares at $297.9444 reduces reported beneficial ownership to 82,207.3407 shares. There is no derivative activity reported and no amendment noted. For governance scrutiny, key points are the presence of a 10b5-1 plan and timely reporting.

Securities Analyst

TL;DR: Non-material in isolation for JPMorgan; routine disclosure with clear price and post-transaction holdings.

The Form 4 shows a straightforward disposition by a director rather than company-wide programmatic activity. The transaction size (9,500 shares) should be evaluated relative to the director's total holdings and typical trading patterns, but on its face it is a routine reduction of beneficial ownership without associated derivative transactions or additional context in this filing.

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^*

BAMMANN LINDA

(Last) (First) (Middle)

383 MADISON AVENUE

(Street)

NEW YORK NY 10179-0001

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
09/02/2025

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	09/02/2025		S		9,500	D	$297.9444	82,207.3407	D

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:

	/s/ Holly Youngwood under POA	09/02/2025
	** 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.

FAQ

What did Linda Bammann sell according to the Form 4?

She sold 9,500 shares of JPMorgan Chase & Co. common stock on 09/02/2025 at $297.9444 per share.

Did the filing indicate a 10b5-1 trading plan?

Yes. The filing is marked to indicate the transaction was made pursuant to a Rule 10b5-1(c) plan.

What are Linda Bammann's holdings after the sale?

Her reported beneficial ownership following the transaction is 82,207.3407 shares.

Were any derivative securities reported on this Form 4?

No. Table II (derivative securities) shows no entries in this filing.

Who signed the Form 4?

The Form 4 was signed under power of attorney by Holly Youngwood on 09/02/2025.