JPMorgan CEO Dimon sells about $150 mln of his shares, SEC filing says (updated)

First Republic Bank

23/02/2024 24:00

(Adds detail, background from paragraph 3-7)
       Feb 22 (Reuters) - JPMorgan Chase  JPM.N  CEO Jamie
Dimon has sold about $150 million of his shares in the bank, a
SEC filing showed on Thursday, marking the first time the head
of the largest U.S. lender has sold shares since taking charge
in 2005.
    Dimon and his family intend to sell 1 million of their 8.6
million shares, the bank had said in a filing last October.
Dimon, one of the longest serving chief executives on Wall
Street, has sold off 821,778 shares of the bank so far.
    The bank has a market capitalization of more than $527
billion, according to LSEG data.
    The sale is not related to leadership succession and the
bank chief had no current plans to sell more stock, but could
consider doing so in the future, a company spokesperson said in
October.
    Dimon's compensation climbed about 4.3% to $36 million for
2023.
    JPMorgan reported its biggest-ever annual profit last year.
It also acquired failed regional lender First Republic Bank in
May, which has helped to bolster profit.

 (Reporting by Nupur Anand and Jonathan Stempel in New York;
Editing by Chris Reese and Jamie Freed)