Form 4: KeyCorp Director Devina A. Rankin Reports Acquisition of Deferred Shares

Director Devina A. Rankin reports acquisition of deferred shares in KeyCorp through the Directors' Deferred Share Sub-Plan.

Summary

• Devina A. Rankin, a director of KeyCorp, filed a Form 4 on April 2, 2024, reporting a transaction on March 31, 2024.
• The transaction involved the acquisition of 1,818 deferred shares under the Directors' Deferred Share Sub-Plan to the KeyCorp Amended and Restated 2019 Equity Compensation Plan.
• These deferred shares are the economic equivalent of common shares and were acquired at a price of $15.81 per share.
• Following the reported transaction, Rankin beneficially owns 50,263 derivative securities, which includes approximately 676 dividend-equivalent deferred shares accrued in March 2024.
• Payment of the deferred shares has been deferred until the earlier of October 1, 2028, or the death of the participant.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing related to director compensation, indicating a neutral sentiment.

Future Outlook

Payment of the deferred shares has been deferred until the earlier of October 1, 2028, or the death of the participant.

Industry Context

This filing reflects standard executive compensation practices, where directors receive deferred shares as part of their remuneration, aligning their interests with the long-term performance of the company.

Stakeholder Impact

• The acquisition of deferred shares by a director aligns their interests with shareholders, potentially encouraging long-term value creation.

Key Dates