JPMorgan CEO Dimon, Family to Sell 1 Million Shares of Bank
October 27 2023 - 6:07AM
Dow Jones News
By Rob Curran
JPMorgan Chase Chairman and Chief Executive Jamie Dimon and his
family plan to sell roughly 12% of their stake in the nation's
largest bank by assets, as Dimon begins to cash in his holdings
after years of accumulating stock in his employer.
In a Securities and Exchange Commission filing, Dimon said he
and his family plan to sell 1 million of their roughly 8.6 million
in JPMorgan shares for "financial diversification and tax-planning
purposes," starting in 2024.
The Dimon family's stake in the bank is worth about $1.21
billion, based on Thursday's closing price. JPMorgan sports a
market capitalization of about $408 billion.
Dimon, 67 years old, has led the bank since 2005. In addition to
the shares Dimon already owns, he may be awarded over 2 million
additional shares, based on performance criteria and the length of
time he stays at the helm.
This would be the first time Dimon has sold any of his shares in
the bank, according to the filing.
Write to Rob Curran at rob.curran@wsj.com
(END) Dow Jones Newswires
October 27, 2023 06:52 ET (10:52 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
JP Morgan Chase (NYSE:JPM)
Historical Stock Chart
From Apr 2024 to May 2024
JP Morgan Chase (NYSE:JPM)
Historical Stock Chart
From May 2023 to May 2024
