Form 4: KeyCorp Executive James L. Waters Reports Stock Transactions

James L. Waters, General Counsel and Secretary of KeyCorp, reports acquisition and disposal of common shares and restricted stock units.

Summary

• On February 17, 2025, James L. Waters, General Counsel and Secretary of KeyCorp, reported transactions involving KeyCorp's common shares and derivative securities.
• Waters acquired 17,596 common shares through the vesting of restricted stock units.
• He also disposed of 5,586 common shares at a price of $17.72.
• Following these transactions, Waters directly owns 68,401 common shares.
• Waters was granted 22,009 restricted stock units that vest in four equal annual installments beginning February 17, 2026.
• Waters was also granted an option to buy 26,369 common shares at $19.49, vesting in four equal annual installments beginning February 17, 2026.
• Waters also reported transactions related to restricted stock units granted in previous years (2022, 2023 and 2024) that vested on February 17, 2025.
• Following these transactions, Waters directly owns 25,296 restricted stock units.

Sentiment

Score: 5

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

Future Outlook

The newly granted restricted stock units and options will vest in four equal annual installments beginning on February 17, 2026.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. These filings are closely watched by investors seeking insights into management's perspective on the company's stock.

Comparison to Industry Standards

• Executive compensation packages often include a mix of salary, stock options, and restricted stock units.
• The vesting schedules and terms of these equity grants are generally in line with industry standards for executive compensation at financial institutions.
• Comparing the size and structure of these grants to those of executives at peer banks like Bank of America, Citigroup, and Wells Fargo would provide a more detailed assessment of KeyCorp's compensation practices.

Stakeholder Impact

• The transactions may have a minor impact on shareholders by slightly diluting the value of existing shares as new shares are issued upon vesting of restricted stock units and exercise of options.
• The transactions provide transparency to stakeholders regarding executive compensation and alignment of interests with shareholders.

Key Dates