JPMorgan Chase CEO Jamie Dimon has sold 133,639 shares of the banking giant worth approximately $31.5 million, according to a recent SEC filing. The sale was executed at an average price of $235 per share on April 14.
This latest transaction follows Dimon's larger stock sales in February 2024, when he offloaded approximately 821,778 shares valued at $150 million. The recent selling pattern marks a shift for Dimon, who had historically been known as a long-term holder making major purchases during market downturns in 2007, 2009, 2012, and 2016.
After the sale, Dimon retains direct ownership of 1.32 million shares, along with additional indirect holdings through family trusts, 401(k) accounts, grantor retained annuity trusts, and a limited liability company.
The stock sales come as JPMorgan Chase, the largest U.S. bank by assets, reported strong first-quarter profits exceeding expectations, driven by record equities trading and higher fees from debt underwriting and merger advisory services. Despite positive results, the bank remains cautious about economic conditions amid ongoing trade tensions.
The timing of these transactions aligns with succession planning at JPMorgan. Dimon, 69, who has led the bank for 19 years, indicated last May that his tenure was "not five years anymore," suggesting a potential step down by 2025 or 2026. While he plans to continue as CEO for the next few years, he may transition to a chairman role later.
The board has emphasized succession planning as a priority, which Dimon himself has described as his most important task. His 2024 compensation package increased by 8.3% to $39 million, reflecting the bank's continued strong performance under his leadership.