JPM 8-K: Smart Summary

On June 25, 2026, JPMorgan Chase & Co. announced the election of Doug Petno and Troy Rohrbaugh as Co-Presidents of the Firm, with expanded CEO responsibilities, while Marianne Lake, CEO of Consumer & Community Banking, announced her retirement after more than 25 years of service.

• Co-President and CEO, Commercial & Investment Bank Doug Petno — appointed Co-President of the Firm and sole CEO of the Commercial & Investment Bank, effective June 25, 2026
• Co-President and CEO, Consumer & Community Banking Troy Rohrbaugh — appointed Co-President of the Firm and CEO of Consumer & Community Banking, effective June 25, 2026

• Doug Petno — one-time Retention and Continuity equity-based award of $30M in RSUs, approved June 24, 2026; 100% cliff-vest after three years; subject to a Vesting Performance Condition requiring three-year average ROTCE of 12% for calendar years 2026, 2027, and 2028; net shares subject to a two-year hold; vesting requires continuous employment with limited exceptions; no vesting for retirement, job elimination, or government service; subject to JPMorgan Chase Bonus Recoupment Policy, recapture provisions, and Protection-based Vesting provisions
• Troy Rohrbaugh — one-time Retention and Continuity equity-based award of $30M in RSUs, approved June 24, 2026; same terms as above including 100% cliff-vest after three years, three-year average ROTCE of 12% performance condition, two-year hold on net shares, continuous employment requirement, and all recoupment and recapture provisions
• Mary Erdoes — one-time Retention and Continuity equity-based award of $20M in RSUs, approved June 24, 2026; same vesting, performance, hold, and recoupment terms as described above
• Jennifer Piepszak — one-time Retention and Continuity equity-based award of $20M in RSUs, approved June 24, 2026; same vesting, performance, hold, and recoupment terms as described above

• CEO, Consumer & Community Banking Marianne Lake — retiring from the Firm after more than 25 years of leadership and service; will work with Troy Rohrbaugh and other senior executives over the coming weeks to help guide a smooth transition; no specific effective date stated beyond the transition period

• Co-President Doug Petno, 61 — elected Co-President of JPMorgan Chase & Co., effective immediately (June 25, 2026); also becomes sole CEO of the Commercial & Investment Bank; part of the Board's ongoing succession planning
• Co-President Troy Rohrbaugh, 56 — elected Co-President of JPMorgan Chase & Co., effective immediately (June 25, 2026); also becomes CEO of Consumer & Community Banking; part of the Board's ongoing succession planning