SEC Form 4 · accession 0001225208-17-001354
JPMORGAN CHASE & CO · JPM
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Gordon Smith
Officer — Executive Vice President
Period of report
Jan 17, 2017
Accepted (ET)
Jan 19, 2017 · 4:58 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000019617
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock | Jan 18, 2017 | S | 65,865 | $83.6711 | D | 237,466 | D | |
| Common Stock | holding | — | — | — | 57,370 | I | By GRAT |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitsF2,F3,F5 | — | Jan 17, 2017 | A | 64,986 | A | — | Jan 13, 2020 | Common Stock | 64,986 | 64,986 | D |
Explanation of responses
- F1Sale pursuant to 10b5-1 Plan dated November 14, 2016.
- F2Restricted Stock Units (RSUs) represent 50% of the Reporting Person's equity-based compensation for performance year 2016, with the remaining 50% awarded in the form of Performance Share Units (PSUs), consistent with last year.
- F3Each restricted stock unit represents a contingent right to receive one share of JPMC common stock.
- F4Equity incentives are subject to the JPMorgan Chase Bonus Recoupment Policy which applies in the event of a material restatement of the Firm's financials. In addition, all equity awards granted in 2017 contain recapture provisions that enable the Firm to cancel an unvested or unexercisable award and/or recover the value of certain stock distributed under the award in specified circumstances. In addition to recapture provisions, portions of equity awards awarded to Operating Committee members are also subject to additional Protection-based Vesting provisions under which awards may be cancelled, any determination with respect to which is subject to ratification by the Compensation & Management Development Committee of the Board of Directors (Committee). In the case of an award to the CEO, all such determinations shall be made by the Committee.
- F5Restricted stock units vest 50% on January 13, 2019 and 50% on January 13, 2020.