Form 4: KeyCorp CFO Clark H. Khayat Reports Stock Transactions

KeyCorp's CFO, Clark H. Khayat, reported the vesting and subsequent disposition of restricted stock units, along with adjustments to his holdings of common shares.

Summary

• On February 24, 2024, Clark H. Khayat, the Chief Financial Officer of KeyCorp, reported transactions involving KeyCorp common shares and restricted stock units.
• 4,504 restricted stock units vested, converting into 4,504 common shares.
• Simultaneously, 2,043 common shares were disposed of at a price of $14.26.
• Following these transactions, Khayat directly owns 112,374 common shares.
• The restricted stock units were granted on February 24, 2020, and vested in four equal annual installments, with the final installment vesting on February 24, 2024.
• The reported transactions also include approximately 300 dividend-equivalent restricted stock units accrued between March and December 2023.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing stock transactions by a company executive. It doesn't inherently convey positive or negative sentiment, but rather provides factual information.

Industry Context

This Form 4 filing is a routine disclosure required by the SEC for corporate insiders, providing transparency into their trading activities. It's a standard practice for executives to receive and manage stock-based compensation as part of their overall remuneration.

Stakeholder Impact

• The transactions have a minimal direct impact on stakeholders, as they represent routine executive compensation and trading activities.
• The disclosure provides transparency to shareholders regarding insider transactions.

Key Dates