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JPMorgan Chase<\/a> Chairman and CEO Jamie Dimon on Monday sold $32.8 million in the bank\u2019s stock, bringing the total proceeds from shaving off a portion of his ownership stake to nearly $183 million this year.\u00a0<\/p>\n In February, he offloaded more than 800,000<\/a> shares worth $150 million, marking the first time he sold JPMorgan stock since becoming CEO 19 years ago.<\/p>\n Dimon is known to be a strong believer in eating your own cooking and holding onto equity. But the company said last year that he and his family planned to sell 1 million shares of JPMorgan for financial diversification and tax planning purposes.\u00a0<\/p>\n As of last year, Dimon held 8.6 million shares of JPMorgan stock and stock appreciation rights relating to 1.5 million shares. His compensation in 2023 was valued at $36 million, with $29.5 million in the form of stock awards. The board\u2019s compensation committee introduced a policy in 2022 that caps Dimon\u2019s annual cash bonus at 25% of his annual comp. In 2023, the board gave Dimon a bonus of $5 million, which the company says is well under the $10 million median of total cash amounts for CEOs at the bank\u2019s peers. Until this year, he had never sold stock in JPMorgan. The share price was $182.89 today, up 6.3% year to date.\u00a0<\/p>\n Another member of Dimon\u2019s inner circle at JPMorgan, global chief information officer Lori Beer, also sold stock recently. In March, Beer sold 3,920 shares worth $765,811 after previously selling on the same day as Dimon\u2019s first sale. On Feb. 22, Beer sold off 3,920 shares at a slightly lower stock price for $716,340.\u00a0<\/p>\n February saw a parade of high-profile executives unload stock<\/a>, including Jeff Bezos of Amazon<\/a>, Meta CEO Mark Zuckerberg and Leon Black, cofounder and former CEO of Apollo Global Management<\/a>.<\/p>\n In an earnings announcement last week, JPMorgan reported first-quarter profits of $13.4 billion, or $4.44 per share, on revenues of $42.5 billion. That included a $725 million increase in the special assessment that came from the FDIC\u2019s estimate of expected losses from last year\u2019s closures of Silicon Valley Bank<\/a> and Signature Bank<\/a>.<\/p>\n \u201cWe\u2019re earning a lot of money,\u201d said Dimon during the earnings call in response to a question. \u201cOur capital cup runneth over and that\u2019s why we increased the dividend.\u201d<\/p>\n<\/div>\n\nSubscribe to the CFO Daily newsletter to keep up with the trends, issues, and executives shaping corporate finance. Sign up<\/a> for free.<\/div>\n<\/div>\n