Moynihan Brian T. - 15 Feb 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
Issuer symbol
BAC
Transactions as of
15 Feb 2024
Net transactions value
$0
Form type
4
Filing time
16 Feb 2024, 19:05:30 UTC
Previous filing
17 Jan 2024
Next filing
05 Mar 2024
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding BAC Common Stock 2,314,872 15 Feb 2024 Direct
holding BAC Common Stock 3,440 15 Feb 2024 401(k) Plan
holding BAC Common Stock 100,000 15 Feb 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 +248,195 248,195 15 Feb 2024 Common Stock 248,195 Direct F1, F2
transaction BAC 2024 Performance Restricted Stock Units Award +413,659 413,659 15 Feb 2024 Common Stock 413,659 Direct F3, F4
transaction BAC 2024 Restricted Stock Units Award +165,464 165,464 15 Feb 2024 Common Stock 165,464 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.