JPMorgan CEO Dimon sells about $33 mln shares, completes planned sale

Author Logo | Mon, 15 Apr 2024 22:10:03 GMT

April 15 (Reuters) – JPMorgan Chase CEO Jamie Dimon has sold about $33 million of his shares in the bank, a regulatory filing showed on Monday, completing a previously disclosed plan to sell 1 million shares.

Last October, JPMorgan had said Dimon and his family intended to sell 1 million of their 8.6 million shares, the first time Dimon was selling shares since becoming the CEO of the largest U.S. lender in 2005.

Dimon sold the remaining 178,222 shares, according to the filing on Monday, after offloading 821,778 shares in February, equating to about $150 million.

The sale is for “financial diversification and tax-planning purposes,” and not related to leadership succession, a company spokesperson had said in October.

JPMorgan did not immediately respond on Monday to a request for additional comment.

The bank has a market capitalization of more than $525 billion, according to LSEG data.

Last week, JPMorgan beat estimates for first-quarter profit, but forecasts for interest income fell short of analysts’ expectations.


(Reporting by Pritam Biswas in Bengaluru; Editing by Sriraj Kalluvila)

(c) Copyright Thomson Reuters 2024. Click For Restrictions –