Source: Finance Federation Author: Zhou Ziyi
① According to regulatory documents submitted by J.P. Morgan Chase on Monday (April 15), CEO Jamie Dimon has completed the 1 million share sale plan previously disclosed; ② This is the first time that Dimon has sold shares since becoming CEO of Komo in 2005; ③ When the plan was first disclosed in October last year, a company spokesperson stated that the sale was due to “financial diversification and tax planning purposes.”
According to regulatory documents submitted by J.P. Morgan Chase on Monday (April 15), the company's CEO Jamie Dimon (Jamie Dimon) has sold approximately $33 million of J.P. Morgan shares and completed the previously disclosed plan to sell a total of 1 million shares.
In October of last year, J.P. Morgan said that Dimon and his family intend to sell 1 million shares of the 8.6 million shares they hold. This is the first time that Dimon has sold shares since becoming CEO of J.P. Morgan in 2005.
A company spokesperson said in October that the sale was due to “financial diversification and tax planning purposes” and had nothing to do with leadership succession. Furthermore, the company also firmly stated, “Dimon still believes that the company's prospects are very strong, and his shares in the company are still very large.”
According to this document submitted on Monday, after reducing his holdings by 821,778 shares in February, Dimon recently sold the remaining 178,222 shares, which is equivalent to how he has cashed out about 150 million US dollars by selling off 1 million shares.
It's worth mentioning that when Dimon took over as CEO 18 years ago, the company's stock price was around $40 per share. As of Monday, the bank's stock price closed at $182.90 per share, with a market capitalization of about $525 billion.
After last year's regional banking turmoil, J.P. Morgan outperformed most of its peers under Dimon's leadership as it reached an agreement to acquire First Republic Bank. Later, the bank also announced the largest annual profit in the history of the US banking industry.
Last week, J.P. Morgan Chase announced that profit for the first quarter exceeded expectations, but the net interest spread revenue forecast fell short of expectations: Xiaomo's net interest margin revenue for the first quarter was US$23.08 billion. Although it rose 11% year over year, the net interest spread was reduced by 4% month-on-month while the benchmark interest rate remained unchanged.
Dimon then explained the mixed earnings report that the main reason was the pressure on deposit interest rates and the decline in deposit size.
At the same time, Dimon did not forget to warn that “we remain alert to a series of major uncertainties,” including the “disturbing global situation,” “massive and continuing inflationary pressure,” and “we have never experienced the full effects of such large-scale quantitative austerity policies.”
edit/lambor