Form 4: KeyCorp Executive Angela G. Mago Reports Stock Transactions
SEC Form 4 Filing
Angela G. Mago, Chief Human Resources Officer of KeyCorp, reports acquisition and disposal of common shares and restricted stock units.
Summary
- On February 17, 2025, Angela G. Mago, Chief Human Resources Officer of KeyCorp, reported transactions involving KeyCorp's common shares and derivative securities.
- Mago acquired 32,765 common shares and disposed of 10,188 common shares at a price of $17.72.
- She also acquired 22,009 restricted stock units that vest in four equal annual installments beginning on February 17, 2026.
- Additionally, Mago acquired an option to buy 26,369 common shares at an exercise price of $19.49, which vests in four equal annual installments beginning on February 17, 2026.
- Several restricted stock units granted in previous years also vested on February 17, 2025.
- Following these transactions, Mago directly owns 257,158 common shares, 22,009 unvested restricted stock units, an option to buy 26,369 shares, and varying amounts of restricted stock units from prior grants.
Sentiment
Score: 5
Explanation: This is a neutral regulatory filing. It simply reports transactions and doesn't inherently indicate positive or negative sentiment about the company's prospects.
Future Outlook
The document does not contain specific forward-looking statements about KeyCorp's future performance, but it does detail the vesting schedules for restricted stock units and stock options, indicating future equity compensation payouts to the reporting person.
Industry Context
This Form 4 filing is a routine disclosure required by the SEC for corporate insiders, providing transparency into their transactions in the company's stock. It allows investors to monitor the actions of key executives and their alignment with shareholder interests.
Comparison to Industry Standards
- Form 4 filings are standard practice across all publicly listed companies in the US.
- Companies like JP Morgan Chase, Bank of America, and Citigroup also have executives who regularly file Form 4s to report their transactions.
- The vesting schedules and option grants are typical forms of executive compensation in the financial services industry.
Stakeholder Impact
- The transactions reported may have a minor impact on shareholders by slightly altering the ownership structure of the company.
- Employees may be interested in the details of executive compensation, including the vesting schedules of restricted stock units and stock options.
- The filing provides transparency to creditors and other stakeholders regarding insider transactions.
Key Dates
| Date | Description |
|---|---|
| 02/15/2021 | Grant date of restricted stock units that vest in four equal annual installments, with the final installment vesting on February 17, 2025. |
| 02/14/2022 | Grant date of restricted stock units that vest in four equal annual installments beginning on February 17, 2023. |
| 02/17/2023 | Grant date of restricted stock units that vest in four equal annual installments beginning on February 17, 2024. |
| 02/16/2024 | Grant date of restricted stock units that vest in four equal annual installments beginning on February 17, 2025. |
| 02/17/2025 | Date of reported transactions including acquisition/disposal of shares and vesting of restricted stock units and grant of new options and restricted stock units. |
| 02/17/2026 | First vesting date for restricted stock units and stock options granted on February 17, 2025. |
| 02/17/2035 | Expiration date for the option to buy shares granted on February 17, 2025. |
| 02/19/2025 | Date of signature on the Form 4 filing. |
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