JPMorgan Chase CEO Jamie Dimon sale of $33 million shares
JPMorgan Chase CEO Jamie Dimon has finalized the sale of approximately $33 million worth of his shares in the bank, as revealed in a regulatory filing on Monday. This sale concludes a previously announced plan to divest 1 million shares.
In October of last year, JPMorgan disclosed that Dimon and his family planned to sell 1 million out of their total 8.6 million shares. This marked the first instance of Dimon selling shares since assuming the role of CEO at the largest U.S. lender in 2005.
According to the filing on Monday, Dimon sold the remaining 178,222 shares after disposing of 821,778 shares in February, totaling approximately $150 million.
Jamie Dimon and his family sold $150 million worth of JPMorgan stock, his first share sale since becoming CEO 18 years ago https://t.co/XHdq3GIU0M
— Bloomberg (@business) February 23, 2024
Source: Twitter/Bloomberg
The sale was attributed to "financial diversification and tax-planning purposes," as clarified by a company spokesperson in October, and is not connected to any leadership succession plans.
As of Monday, JPMorgan had not responded to a request for further comment.
Based on data from LSEG, the bank's market capitalization exceeds $525 billion.
In the previous week, JPMorgan surpassed first-quarter profit estimates, although projections for interest income fell short of analysts' forecasts.
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