JPMorgan (NYSE: JPM) risk chief settles PSU award into stock

Rhea-AI Filing Summary

JPMorgan Chase & Co.'s Chief Risk Officer Ashley Bacon exercised performance share units that settled into 47,213.4479 shares of common stock on March 25, 2026. These shares came from a PSU award granted on January 17, 2023 for a three-year performance period ended December 31, 2025. To cover tax obligations, 23,957.4479 shares were withheld at a price of 295.0400 per share, leaving Bacon with 260,413.0000 shares of JPM common stock held directly. The delivered shares must be held for an additional two years, giving the award a total five-year vesting and holding period.

Insider Trade Summary

47,213.448 shares exercised/converted

Mixed 3 txns

Insider BACON ASHLEY

Role Chief Risk Officer

Type	Security	Shares	Price	Value
Exercise	Performance Share Units	47,213.448	$0.00	--
Exercise	Common Stock	47,213.448	$0.00	--
Tax Withholding	Common Stock	23,957.448	$295.04	$7.07M

Holdings After Transaction: Performance Share Units — 0 shares (Direct); Common Stock — 284,370.448 shares (Direct)

Footnotes (1)

1. These shares represent JPM common stock acquired on March 25, 2026 upon settlement of a Performance Share Unit (PSU) award granted on January 17, 2023 for the three-year performance period ended December 31, 2025 (as previously disclosed on a Form 4 filed on March 19, 2026), and must be held for an additional two-year period, for a total combined vesting and holding period of five years from the date of grant, as provided under the terms of the PSU award. Each PSU represents a contingent right to receive one share of JPM common stock upon vesting based on the attainment of performance goals. Represents PSUs earned (including reinvested dividend equivalents) based on the Firm's attainment of pre-established performance goals for the three-year performance period ended December 31, 2025, as provided under the terms of a PSU award granted on January 17, 2023, and as previously reported on a Form 4 filed on March 19, 2026. The PSUs settled in shares of common stock on March 25, 2026. Shares delivered, after applicable tax withholding, must be held for an additional two-year period, for a total combined vesting and holding period of five years from the date of grant.

Form 4 Insider Transactions: What Each Field Means →

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

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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 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)
	Chief Risk Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/25/2026

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	03/25/2026		M		47,213.4479(1)	A	$0(2)	284,370.4479	D
Common Stock	03/25/2026		F		23,957.4479	D	$295.04	260,413	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
Performance Share Units	(2)	03/25/2026		M			47,213.4479(3)	(3)	(3)	Common Stock	47,213.4479	$0.0000	0.0000	D

Explanation of Responses:

1. These shares represent JPM common stock acquired on March 25, 2026 upon settlement of a Performance Share Unit (PSU) award granted on January 17, 2023 for the three-year performance period ended December 31, 2025 (as previously disclosed on a Form 4 filed on March 19, 2026), and must be held for an additional two-year period, for a total combined vesting and holding period of five years from the date of grant, as provided under the terms of the PSU award.

2. Each PSU represents a contingent right to receive one share of JPM common stock upon vesting based on the attainment of performance goals.

3. Represents PSUs earned (including reinvested dividend equivalents) based on the Firm's attainment of pre-established performance goals for the three-year performance period ended December 31, 2025, as provided under the terms of a PSU award granted on January 17, 2023, and as previously reported on a Form 4 filed on March 19, 2026. The PSUs settled in shares of common stock on March 25, 2026. Shares delivered, after applicable tax withholding, must be held for an additional two-year period, for a total combined vesting and holding period of five years from the date of grant.

	/s/ Holly Youngwood under POA	03/27/2026
	** 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)

FAQ

What did JPMorgan Chase (JPM) disclose about Ashley Bacon's latest Form 4?

Ashley Bacon exercised performance share units that settled into 47,213.4479 JPM shares on March 25, 2026. The award was granted in January 2023 for a three-year performance period and the resulting stock must be held for an additional two years.

How many JPM shares did Ashley Bacon receive and retain after this PSU settlement?

The PSU settlement delivered 47,213.4479 JPM common shares. After 23,957.4479 shares were withheld to satisfy tax obligations at 295.0400 per share, Ashley Bacon’s direct holdings stood at 260,413.0000 JPM shares following the transactions.

What is the vesting and holding schedule for Ashley Bacon's 2023 JPM PSUs?

The PSUs were granted on January 17, 2023 for a three-year performance period ending December 31, 2025. After settling in stock on March 25, 2026, the delivered JPM shares must be held for an additional two years, totaling five years from grant.

Were Ashley Bacon's JPM transactions open-market buys or tax-related events?

The Form 4 shows a derivative exercise and a tax-withholding disposition, not open-market purchases or sales. PSUs converted into JPM common shares, and 23,957.4479 shares were withheld to satisfy tax liabilities at a reported price of 295.0400 per share.

Does Ashley Bacon still hold JPMorgan performance share units after this transaction?

The filing’s derivative section shows an exercise of 47,213.4479 PSUs into JPM common stock with no remaining derivative holdings listed. After settlement and tax withholding, Ashley Bacon holds 260,413.0000 JPM common shares directly.