Form 4: Zions Bancorporation Director Acquires Deferred Stock Units

Vivian S. Lee, a director at Zions Bancorporation, acquired 488.907 phantom stock units as deferred compensation.

Summary

• Vivian S. Lee, a Director of Zions Bancorporation, National Association (ZION), acquired 488.907 phantom stock units.
• The transaction date for this acquisition was December 30, 2025.
• These phantom stock units are a form of deferred compensation and have a conversion or exercise price of $0.
• Each phantom stock unit represents an underlying common stock equivalent.
• The phantom stock units are settled in cash upon the earlier of the director's death or retirement.
• Following this transaction, Vivian S. Lee beneficially owns a total of 26,364.179 derivative securities (phantom stock units).

Sentiment

Score: 6

Explanation: The sentiment is slightly positive as it indicates a director's continued alignment with the company through deferred compensation, which is a routine and expected event.

Positives

• A director's acquisition of additional phantom stock units, even as deferred compensation, indicates continued alignment of interests with shareholders.

Future Outlook

This filing does not contain any forward-looking statements or guidance regarding the company's future performance or strategic direction.

Industry Context

This insider transaction reflects a routine compensation event for a director within the banking industry, where deferred compensation plans often include equity-linked instruments to align executive and director interests with long-term company performance.

Stakeholder Impact

• Shareholders may view this as a positive signal of continued commitment and alignment from a board member, reinforcing confidence in the company's leadership.

Key Dates

Recommendation

This Form 4 reports a routine acquisition of deferred compensation by a director, which is a minor event and does not significantly alter the investment thesis for Zions Bancorporation. It does not provide new information that would warrant a change in investment recommendation.

Keywords

Zions Bancorporation, ZION, Form 4, insider transaction, beneficial ownership, deferred compensation, phantom stock, director