SEC Form 4 · accession 0001127602-17-010139
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 & Head of GWIM
Period of report
Mar 1, 2017
Accepted (ET)
Mar 3, 2017 · 4:17 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, 2017 | M | 31,585 | $0.00 | A | 743,705 | I | By Revocable Trust |
| Common StockF2 | Mar 1, 2017 | F | 16,289 | $25.50 | D | 727,416 | I | By Revocable Trust |
| Common StockF3 | Mar 1, 2017 | M | 96,977 | $0.00 | A | 824,393 | I | By Revocable Trust |
| Common Stock | Mar 1, 2017 | D | 96,977 | $25.50 | D | 727,416 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2012 Performance Restricted Stock UnitsF1,F5,F4 | — | Mar 1, 2017 | M | 31,585 | D | — | — | Common Stock | 31,585 | 0 | D |
| 2014 Performance Restricted Stock UnitsF3,F5,F6 | — | Mar 1, 2017 | M | 96,977 | D | — | — | Common Stock | 96,977 | 0 | D |
Explanation of responses
- F1Each unit represents a contingent right to receive one share of Bank of America Corporation common stock.
- F2Disposition of shares to the issuer to satisfy a tax withholding obligation.
- F3Each unit is the economic equivalent of one share of Bank of America Corporation common stock.
- F4On 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, 2017 of units based on the attainment of goals for the four quarters ending December 31, 2016.
- F5The units have reached the end of the performance period. No units remain outstanding.
- F6On February 14, 2014, 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, 2014 and ending on December 31, 2016.