Alastair M. Borthwick - Feb 15, 2024 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, 2024
Transactions value $
$0
Form type
4
Date filed
2/16/2024, 07:18 PM
Previous filing
Jul 26, 2023
Next filing
Feb 23, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding BAC Common Stock 312K Feb 15, 2024 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 2024 Performance Restricted Stock Units Award +116K 116K Feb 15, 2024 Common Stock 116K Direct F1, F2
transaction BAC 2024 Restricted Stock Units Award +57.9K 57.9K Feb 15, 2024 Common Stock 57.9K Direct F1, F3
transaction BAC 2024 Restricted Stock Units Award +57.9K 57.9K Feb 15, 2024 Common Stock 57.9K Direct F4, F5
* 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, 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.
F3 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.
F4 Each unit is the economic equivalent of one share of Bank of America Corporation common stock.
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 cash and vest in four equal annual installments commencing February 15, 2025.