Richards Robert Ryan 4

What Happened

• Robert Ryan Richards, Controller of ZIONS BANCORPORATION (ZION), exercised 2,004 option-derived shares (Form 4 code M) at an exercise price of $52.90 and the same 2,004 shares were disposed of the same day. The reported value for both the acquisition and the disposal is $106,012. Because the acquired and disposed amounts match, there is no net increase in his share count from this transaction.

Key Details

• Transaction date: 2026-05-06; Filing date: 2026-05-07 (filed promptly)
• Exercise price / sale price reported: $52.90 per share
• Shares involved: 2,004 shares acquired and 2,004 shares disposed; aggregate value $106,012
• Transaction type: M = exercise or conversion of a derivative security (options)
• Shares owned after transaction: not specified in the provided filing data
• Footnote: Grant has a graded vesting schedule; exercisability dates vary by tranche (F1)

Context

• The paired "acquired" and "disposed" entries indicate Richards exercised options and disposed of the resulting shares the same day (commonly a cashless exercise or sell-to-cover pattern). This is a routine insider liquidity event and does not necessarily signal a change in his bullish/bearish view.