WASHINGTON - Bank One Corp. registered 2 million common shares on behalf of chairman James Dimon and his wife, Judith, according to a registration statement filed Tuesday with the Securities and Exchange Commission.
The filing states that the Dimons bought the shares in a private placement on March 25. The stock from the company's treasury was bought for about $28.38 a share - a total of $56.75 million. Bank One's shares were recently trading at about $38.
Under the purchase agreement, Mr. Dimon and his wife cannot sell, pledge, give, transfer, dispose, or alienate the shares or any interest in the shares before Sept. 24, or Mr. Dimon's termination of employment with Bank One. Mr. Dimon became chairman and chief executive of Bank One on March 27.
The Dimons do not currently intend to sell the shares, the filing said. As of Sept. 1, they owned 2,035,242 shares of Bank One common stock.