Bank One Chairman Bought 2 Million Shares 2 Days Before Elected
Dow Jones Online News, 04/5/2000 18:17
WASHINGTON -(Dow Jones)- Two days before James Dimon was elected chairman and chief executive of Bank One Corp. (ONE), he bought 2 million shares of the company's stock, according to a proxy filed with the Securities and Exchange Commission Wednesday.
Dimon purchased the shares March 25 and was elected chairman March 27.
He bought the stock at a price of about $28.38 a share, which was equal to the closing price on the New York Stock Exchange the previous day.
The total price of the shares was $56.75 million, according to the filing.
Before assuming the role of chairman, Dimon had been a private investor since November 1998. Before that, he was president of Citigroup Inc. (C) and president and chief operating officer of Travelers Group Inc.
Based in Chicago, Bank One manages banks, with about 2,000 offices in 14 states.
-Cameron Huddleston; Dow Jones Newswires/Federal Filings
Business News; 202-393-7859
(This story was originally published by Dow Jones Newswires)
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