SEC Filing Reveals JPMorgan CEO Dimon’s $150 Million Share Sell-Off
BollywoodFever, February 22: JPMorgan Chase CEO Jamie Dimon has made headlines by selling approximately $150 million worth of his shares in the bank, as revealed in a recent SEC filing.
This move marks the first time since assuming leadership in 2005 that Dimon has divested shares.
Back in October, the bank had disclosed intentions for Dimon and his family to sell 1 million of their 8.6 million shares.
So far, Dimon, a stalwart figure in the finance industry, has sold off 821,778 shares.
Despite this significant sale, the bank’s market capitalization remains robust, standing at over $527 billion according to LSEG data.
Importantly, the sale is not tied to leadership succession plans, clarified a company spokesperson last October.
Dimon currently has no immediate plans for further stock sales but may consider them in the future.
Meanwhile, his compensation for 2023 increased by approximately 4.3% to $36 million.
JPMorgan’s financial performance has been impressive, with the bank reporting its largest-ever annual profit last year.
Additionally, its acquisition of First Republic Bank in May has contributed to bolstering profits, reflecting ongoing strategic moves within the financial giant.
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