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Jamie Dimon just dropped $26 million on JPMorgan shares
Jamie Dimon just dropped $26 million on JPMorgan shares
Matt TurnerFeb 12, 2016, 03:42 IST
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AP ImagesJPMorgan chief executive Jamie Dimon has bought 500,000 shares in the bank, according to a person familiar with the matter.
The share purchase cost around $26 million, according to the person. The news was first reported by Dow Jones.
Bank stocks have taken a hammering of late, with JPMorgan falling around 20% since the turn of the year.
The purchase is likely intended as a sign of confidence in the bank.JPMorgan's share price jumped 2% in after-hours trading following the report, up to around $54.00. Dimon received $27 million in total compensation for 2015. Broken down, it's $1.5 million in salary, $5 million in cash bonus and $20.5 million in performance share units, or PSUs, according to an SEC filing.
