SEC Form 4 · accession 0001127602-16-044876
BANK OF AMERICA CORP /DE/ · BAC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Terrence P Laughlin
Officer — Vice Chairman, GWIM
Period of report
Mar 1, 2016
Accepted (ET)
Mar 3, 2016 · 5:18 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000070858
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Mar 1, 2016 | M | 75,515 | $0.00 | A | 622,614 | I | By Revocable Trust |
| Common Stock | Mar 1, 2016 | D | 75,515 | $13.19 | D | 547,099 | I | By Revocable Trust |
| Common StockF2 | Mar 1, 2016 | M | 178,982 | $0.00 | A | 726,081 | I | By Revocable Trust |
| Common StockF3 | Mar 1, 2016 | F | 92,302 | $13.19 | D | 633,779 | I | By Revocable Trust |
| Common Stock | holding | — | — | — | 36 | I | By Spouse IRA |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2013 Performance Stock UnitsF1,F5,F4 | — | Mar 1, 2016 | M | 75,515 | D | — | — | Common Stock | 75,515 | 0 | D |
| 2012 Performance Restricted Stock UnitsF2,F6 | — | Mar 1, 2016 | M | 178,982 | D | — | — | Common Stock | 178,982 | 31,585 | D |
Explanation of responses
- F1Each unit is the economic equivalent of one share of Bank of America Corporation common stock.
- F2Each unit represents a contingent right to receive one share of Bank of America Corporation common stock.
- F3Disposition of shares to the issuer to satisfy a tax withholding obligation.
- F4On February 15, 2013, the reporting person was granted units, vesting and payable in cash based on the closing price of Bank of America Corporation common stock on the settlement date, subject to the Company's attainment of 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, 2013 and ending on December 31, 2015.
- F5The units have reached the end of the performance period. No units remain outstanding.
- F6On February 15, 2012, the reporting person was granted units that vest subject to the Company's attainment of return on asset performance goals measured each quarter based on a 12-month rolling period. Represents vesting and settlement on March 1, 2016 of units based on the attainment of goals for the four quarters ending December 31, 2015.