Law Scott A. 4

What Happened

• Scott A. Law, Executive Vice President of Zions Bancorporation (ZION), reported exercising options to acquire 913 shares on Feb 4, 2026. The exercise is reported at $51.17 per share (total value shown $46,718).
• The filing also shows 732 shares were disposed to pay the exercise price or tax liability (tax withholding) at $63.87 per share (total ~$46,753).
• A separate derivative disposition of 913 shares at $51.17 is reported in the same filing; the filing does not specify the ultimate disposition (sale vs. surrender) beyond the reporting codes.

Key Details

• Transaction date: 2026-02-04.
• Exercise: 913 shares acquired via derivative exercise (code M) at $51.17 — $46,718 reported.
• Tax/payment withholding: 732 shares disposed (code F) at $63.87 — $46,753 reported.
• Derivative disposition: 913 shares reported disposed (code M) at $51.17.
• Shares owned after the transaction: not disclosed in the provided extract of the filing.
• Footnote: Grant has a graded vesting schedule; dates exercisable vary by tranche (F1).
• Filing timeliness: no late filing indicator shown in the provided data.

Context

• This filing reports an option exercise (derivative transaction). The combination of an acquisition entry and a tax-withholding/disposition entry commonly reflects a cashless exercise or partial share surrender to cover taxes/costs, but the filing does not explicitly state the mechanics.
• Such exercises are routine for employees realizing vested option value and do not by themselves indicate a change in insider sentiment.