CUTLER ALEXANDER M 4

What Happened
Alexander M. Cutler, a director of KeyCorp (KEY), was granted 7,352 deferred shares on 2026-05-14. The award is recorded at $0.00 per share (total reported value $0) and is a derivative award rather than an open‑market purchase or sale.

Key Details

• Transaction type: Award/Grant (code A) of Deferred Shares.
• Transaction date: 2026-05-14; Form 4 filed: 2026-05-18 (filed within SEC’s two-business-day reporting window).
• Price per share: $0.00; total reported value: $0.
• Shares after transaction: Not specified in this filing.
• Footnotes:
  • F1: Each Deferred Share is the economic equivalent of one common share.
  • F2: Payment of the deferred shares is deferred until July 1, 2029 under the Directors’ Deferred Share Sub‑Plan.
  • F3: The award was made under KeyCorp’s Deferred Share Plan.

Context
Director deferred share awards are a form of compensation and are not the same as a purchase (which might signal personal investment) or a sale. These deferred shares represent future economic value tied to common stock but will not be delivered or sold immediately; they are scheduled for payment on July 1, 2029.