Brian T. Moynihan - Feb 15, 2024 Form 4 Insider Report for BANK OF AMERICA CORP /DE/ (BAC)

Role
Chair and CEO, Director
Signature
Brian T. Moynihan / Michael P. Lapp POA
Stock symbol
BAC
Transactions as of
Feb 15, 2024
Transactions value $
$0
Form type
4
Date filed
2/16/2024, 07:05 PM
Previous filing
Jan 17, 2024
Next filing
Mar 5, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding BAC Common Stock 2.31M Feb 15, 2024 Direct
holding BAC Common Stock 3.44K Feb 15, 2024 401(k) Plan
holding BAC Common Stock 100K Feb 15, 2024 By Trust

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction BAC 2024 Cash Settled Restricted Stock Units Award +248K 248K Feb 15, 2024 Common Stock 248K Direct F1, F2
transaction BAC 2024 Performance Restricted Stock Units Award +414K 414K Feb 15, 2024 Common Stock 414K Direct F3, F4
transaction BAC 2024 Restricted Stock Units Award +165K 165K Feb 15, 2024 Common Stock 165K Direct F3, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each unit is the economic equivalent of one share of Bank of America Corporation common stock.
F2 Award under the Bank of America Corporation Equity Plan in a transaction that is exempt under Rule 16b-3(d). These units vest and are payable solely in cash as follows: 1/12th on the 15th day of each month during the 12-month period beginning March 2024 and ending in February 2025.
F3 Each unit represents a contingent right to receive one share of Bank of America Corporation common stock.
F4 Award under the Bank of America Corporation Equity Plan in a transaction that is exempt under Rule 16b-3(d). These units are subject to the attainment of pre-established 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, 2024 and ending December 31, 2026. To the extent earned, the award will be settled in shares on March 1, 2027. The reported number of units represents the "maximum" amount of the award (i.e., 100%); the actual award upon vesting may range between 0% and 100% of the maximum, depending upon satisfaction of the performance goals.
F5 Award under the Bank of America Corporation Equity Plan in a transaction that is exempt under Rule 16b-3(d). These units are settled in shares and vest in four equal annual installments commencing February 15, 2025.