JPMorgan Chase Chairman and CEO Jamie Dimon made headlines recently by selling shares of his bank for the first time. The move included selling 683,038 JPMorgan shares for a total of $125 million, with an average price of $182.73 per share. This transaction was disclosed in a form filed with the Securities and Exchange Commission and was executed through trusts controlled by Dimon.
Strategic Stock Sales
In addition to Dimon’s sales, his spouse Judith Kent also sold 138,740 JPMorgan shares for $25.3 million at the same average price per share. These sales were part of a Rule 10b5-1(c) plan, which automatically executes trades based on preset conditions to avoid any potential insider bias from nonpublic information.
Remaining Holdings
Despite the recent sales, Dimon still retains ownership of 311,861 JPMorgan shares in a personal account, 8,707 shares in a 401(k) plan, and 152,940 shares through a limited liability company. The trusts now hold 6.6 million JPMorgan shares, while Kent owns 595,316 shares.
Growth and Plans
JPMorgan stock hit a record high of $183.42 in recent trading sessions, reflecting a year-to-date gain of 7.6%. Dimon’s planned selling includes up to 1 million shares, with the arrangement set to be effective until Aug. 23, according to the company’s recent 10-K filing.
Inside Scoop
Inside Scoop covers notable stock transactions by corporate executives, board members, and other insiders. These individuals are required to disclose their trades with regulatory groups like the Securities and Exchange Commission.
