MCLEAN SCOTT J 4

What Happened

• Scott J. McLean, President & COO of Zions Bancorporation (ZION), exercised stock options to acquire a total of 33,125 shares on 2026-02-02 and sold most of those shares the same day.
• Exercises: 33,125 shares acquired via option exercises at strike prices $51.17 (13,620 shares; $696,935 exercise cost) and $45.65 (19,505 shares; $890,404 exercise cost). Total exercise cash outlay reported: $1,587,339.
• Sales: 11,665 shares sold in an open-market trade at a weighted avg $61.14 for $713,233 (F1), and 17,315 shares sold at a weighted avg $61.15 for $1,058,760 (F2). Total sales proceeds: $1,771,993.
• Net from these transactions (sales proceeds minus exercise cost): $184,654. The filing shows the exercises and same-day sales (a common cashless-exercise pattern).

Key Details

• Transaction date: 2026-02-02; Form 4 filed 2026-02-03 (timely; within Form 4 reporting window).
• Exercise strike prices: $51.17 and $45.65. Sales weighted-average prices: $61.12–$61.20 (first sale, F1) and $61.13–$61.19 (second sale, F2).
• Shares involved: 33,125 exercised; 28,980 sold; net retained from this activity = 4,145 shares (33,125 − 28,980).
• Footnotes: F1 and F2 note the sales were executed in multiple trades and the reported sale prices are weighted averages; full trade-level details are available upon request. F3 notes the granted options have a graded vesting schedule (vesting dates vary by tranche).
• Filing timeliness: Not marked late; submitted the next day.

Context

• This was an option exercise followed by immediate open-market sales of most of the acquired shares — a routine liquidity/tax-management pattern often seen with executive option exercises (commonly called a cashless exercise when shares are sold to cover exercise cost and taxes).
• The filing itself does not state total ZION shares McLean owns after the transactions; the summary above shows only the net shares retained from these trades.