QUINN STEPHEN D 4

What Happened
Stephen D. Quinn, a director of Zions Bancorporation (ZION), was granted 2,055 phantom stock units on 2026-05-01. The units were recorded at $63.26 each, for a total economic value of $129,999. This filing reports an award (code A) of derivative units rather than an outright purchase of common stock.

Key Details

• Transaction date and value: 2026-05-01 — 2,055 units at $63.26 each = $129,999.
• Nature of award: Phantom stock units (derivative), each unit is the economic equivalent of one share (Footnote F1).
• Settlement: Units are settled in cash upon the earlier of death or retirement (Footnote F2) — these are not currently issued common shares.
• Shares/units owned after transaction: Not disclosed in the filing.
• Timeliness: Filed 2026-05-04 (within the standard two-business-day window), so the Form 4 appears timely.

Context
Phantom stock units are a form of compensation that track the economic value of shares but are typically paid in cash when they vest or upon a triggering event (here, death or retirement). Because they are derivative awards settled in cash, they do not convey immediate share ownership, voting rights, or dividend payments in the form of actual stock. This type of grant is generally a routine compensation action for directors rather than an open-market purchase or sale.