JPMorgan Chase CEO Jamie Dimon sold about $33 million worth of his stock in the bank, a regulatory filing showed Monday, completing a previously disclosed plan to sell 1 million shares.
Last October, JPMorgan said Dimon and his family planned to sell 1 million of their 8.6 million shares, the first time Dimon had sold shares since becoming CEO of the largest U.S. lender in 2005.
Dimon sold the remaining 178,222 shares, according to the filing Monday, after divesting 821,778 shares in February, which equates to about $150 million.
The sale is being carried out “for financial diversification and tax planning purposes” and is not linked to management succession, a company spokesperson said in October.
JPMorgan did not immediately respond 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 first-quarter profit estimates, but forecasts for interest income fell short of analysts’ expectations.
New York Post
