SEC Form 4 · accession 0001225208-15-004287
BANK OF AMERICA CORP /DE/ · BAC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Gary G Lynch
Officer — Gbl Gen Cnsl Hd Cmpl & Reg Rel
Period of report
Feb 13, 2015
Accepted (ET)
Feb 17, 2015 · 5:12 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 Stock | holding | — | — | — | 228,926 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2015 Performance Restricted Stock UnitsF1,F2 | — | Feb 13, 2015 | A | 135,186 | A | — | — | Common Stock | 135,186 | 135,186 | D |
| 2015 Restricted Stock UnitsF3,F4 | — | Feb 13, 2015 | A | 135,186 | A | — | Feb 13, 2018 | Common Stock | 135,186 | 135,186 | D |
Explanation of responses
- F1Each unit is the economic equivalent of one share of Bank of America Corporation common stock.
- F2Award under the Bank of America Corporation 2003 Key Associate Stock 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 reported have performance goals based on the Company's three year average return on assets and one-half of the units reported have performance goals based on the Company's three year average growth in adjusted tangible book value, both beginning on January 1, 2015 and ending December 31, 2017. To the extent earned, the award will be settled 100% in cash based on the closing price of Bank of America Corporation common stock on the settlement date. The reported number of units represents the "target" amount of the award; the actual award upon vesting may range between 0% and 125% of the target, depending upon satisfaction of the performance goals.
- F3Each unit represents a contingent right to receive one share of Bank of America Corporation common stock.
- F4Award under the Bank of America Corporation 2003 Key Associate Stock Plan in a transaction that is exempt under Rule 16b-3(d). These units vest in three equal annual installments commencing on the first anniversary of the February 13, 2015 grant date.