Bank of America Chair & CEO Brian Moynihan Settles Monthly Cash RSU Tranche

Executive Summary

On October 19, 2026, Bank of America Corporation ($BAC) filed a Form 4 detailing equity transactions by Chair and Chief Executive Officer Brian T. Moynihan. The filing reflects the scheduled monthly vesting and cash settlement of 18,083 cash-settled restricted stock units (RSUs) on October 15, 2026, at an effective price of $51.70 per share, representing a total cash-settled value of approximately $934,891.10.

Transaction Analysis

• Mechanism: The transactions involve the exercise/conversion (Code M) and simultaneous cash disposition (Code D) of 18,083 cash-settled RSUs from a grant awarded on February 13, 2026.
• Vesting Schedule: Under the award terms, the units vest and are payable solely in cash in 1/12th increments on the 15th of each month from March 2026 through February 2027.
• Net Change in Equity: Because the award is settled strictly in cash upon vesting, there was zero net change in Moynihan's direct common stock holdings, which remain at 2,699,612 shares.
• Indirect Ownership: In addition to direct holdings, Moynihan holds 100,000 shares indirectly through a trust and approximately 3,648.364 share equivalents through a 401(k) plan.

Market & Trading Significance

This filing carries Low informational significance for investors. It represents a routine, pre-established programmatic monthly vesting event settled entirely in cash rather than a discretionary open-market sale or purchase. Moynihan maintains substantial equity exposure to Bank of America with over 2.79 million total shares held directly and indirectly.