Alastair M. Borthwick - Feb 15, 2022 Form 4 Insider Report for BANK OF AMERICA CORP /DE/ (BAC)

Role
Chief Financial Officer
Signature
Alastair M. Borthwick / Michael P. Lapp POA
Stock symbol
BAC
Transactions as of
Feb 15, 2022
Transactions value $
$0
Form type
4
Date filed
2/15/2022, 08:02 PM
Previous filing
Jan 27, 2022
Next filing
Jan 27, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding BAC Common Stock 149K Feb 15, 2022 Direct

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 2022 Performance Restricted Stock Units Award +64.5K 64.5K Feb 15, 2022 Common Stock 64.5K Direct F1, F2
transaction BAC 2022 Restricted Stock Units Award +64.5K 64.5K Feb 15, 2022 Common Stock 64.5K Direct F1, F3
transaction BAC Restricted Stock Units Award +50K 50K Feb 15, 2022 Common Stock 50K Direct F1, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each unit represents a contingent right to receive 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 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, 2022 and ending December 31, 2024. To the extent earned, the award will be settled in shares on March 1, 2025. 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.
F3 Award under the Bank of America Corporation Equity Plan in a transaction that is exempt under Rule 16b-3(d). These units vest in four equal annual installments commencing February 15, 2023.
F4 Award under the Bank of America Corporation Equity Plan in a transaction that is exempt under Rule 16b-3(d). These units vest in two equal annual installments commencing February 15, 2025.