Source: WallStreetOnParade.com
According to Form 4 filed with the Securities and Exchange Commission by corporate insiders, ten of the key executives at the largest bank in the United States, JPMorgan Chase, have dumped more than $150 million in common stock in the bank this year. The sales come as the bank’s stock has been hitting all time highs while the scandals at the bank are also hitting unprecedented levels.
The largest seller by far was the Chairman and CEO of the bank, Jamie Dimon. According to his Form 4, on February 22 of this year, Dimon sold 737,420 shares of the bank’s common stock for $135 million.
The newly promoted Troy Rohrbaugh, who is now Co-CEO of JPMorgan Chase’s Commercial and Investment Bank (CIB), sold 75,000 shares on February 22 of this year for $13.7 million.
Stacey Friedman, General Counsel at the bank, sold 6,030 shares on February 22 for $1.1 million.
Peter Scher, Vice Chairman, sold 1,812 shares on January 16 and another 1,810 shares on February 16 of this year for proceeds of approximately $626,000.
Jennifer Piepszak, Co-CEO, Commercial and Investment Bank (CIB), on February 16, 2024, sold 1,648 shares for $295,000. Piepszak has been selling large chunks of the bank’s stock since 2019.
Marianne Lake, CEO of the Consumer and Community Bank (CCB), on Feb 16 sold 4,459 shares for $798,000.
Ashley Bacon, Chief Risk Officer (at a bank that is ranked by its regulators as the riskiest bank in the U.S.) sold 3,368 shares on February 16 of this year for approximately $602,856. Bacon has been selling large chunks of JPMorgan Chase stock since 2013….