JPMorgan Chase CEO Jamie Dimon just sold a massive amount of his company’s stock.
New SEC filings show Dimon sold a total of 866,361 shares at a price of $269.83 on Thursday, worth a whopping $233.77 million.
According to the SEC Form 4 filing, the shares sold are attributed to various entities including his family, GRATs, LLCs, and his spouse.
As Dimon executed the sale on February 20th, shares of JPMorgan Chase (JPM) sank from record highs at around $278 down to $266.
In February of last year, Dimon initiated his first-ever sale of the company’s stock since becoming CEO in 2005.
He then executed another sale in April, completing a combined $182 million in sales in 2024.
Although Dimon has not made public comments on the sales, a company filing said they’re part of a predetermined plan for “financial diversification and tax-planning purposes” and that Dimon “continues to believe the company’s prospects are very strong and his stake in the company will remain very significant.”
Shares of JPMorgan Chase (JPM) have surged 44% in the last year amid a broad spike in bank stocks, driven by a resilient economy and record-breaking earnings.
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