Form 4: KeyCorp Director Todd J. Vasos Reports Changes in Beneficial Ownership

Director Todd J. Vasos reports acquisition of deferred shares in KeyCorp through a deferred compensation plan.

Summary

• On March 31, 2025, Todd J. Vasos, a director of KeyCorp, acquired 2,032 deferred shares through the Directors' Deferred Share Sub-Plan at a price of $15.99 per share.
• These deferred shares are the economic equivalent of common shares and are part of KeyCorp's Amended and Restated 2019 Equity Compensation Plan.
• Payment of these deferred shares is deferred until the earlier of January 1, 2027, or the death of the participant.
• Following this transaction, Vasos beneficially owns 25,529 common shares and 58,666 deferred shares, which includes approximately 731 dividend-equivalent deferred shares accrued in March 2025.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive as it reflects a director's continued investment in the company through a standard compensation mechanism.

Positives

• The acquisition of deferred shares indicates the director's continued investment and alignment with the company's long-term performance.

Future Outlook

Payment of the deferred shares is scheduled for the earlier of January 1, 2027, or the death of the participant.

Industry Context

Directors often participate in deferred compensation plans as part of their overall compensation package, aligning their interests with the long-term success of the company. This is a common practice in the financial services industry.

Comparison to Industry Standards

• Deferred compensation plans for directors are a common practice among publicly traded companies, particularly in the financial sector.
• Companies like JPMorgan Chase and Bank of America also offer similar deferred compensation plans to their directors, allowing them to defer fees into company stock or equivalent units.
• The specific terms of these plans, such as the deferral period and payout conditions, can vary but generally aim to align director compensation with long-term shareholder value.

Stakeholder Impact

• The transaction signals to shareholders that the director is invested in the long-term success of the company.

Key Dates

Keywords

KeyCorp, Director, Deferred Shares, Beneficial Ownership, Form 4, Equity Compensation Plan, Vasos, KEY