CUTLER ALEXANDER M 4

What Happened
Alexander M. Cutler, a director of KeyCorp (KEY), received an award of 732 deferred shares on June 30, 2026. The shares are recorded at $0 (derivative award) because they represent deferred director fees converted into deferred shares rather than a cash purchase. The filing shows these are not immediate common-share transfers but economic equivalents whose payout is deferred.

Key Details

• Transaction date: 2026-06-30; Transaction type/code: Award/Grant (A); Price: $0.00 per share.
• Total granted: 732 deferred shares (derivative interest).
• Includes ~596 dividend-equivalent deferred shares accrued in June 2026 (per footnote).
• Payment of these deferred shares is postponed until the earlier of July 1, 2027, or the participant’s death (Deferred Share Plan terms).
• Shares owned after the transaction: not specified in this Form 4 filing.
• Filing date/accession: Form filed 2026-07-02 (appears timely under the 2-business-day rule).

Context
This is a compensation-related, derivative award (deferred director fees converted into deferred shares), not an open-market purchase or sale. Deferred shares are the economic equivalent of common shares but will not be paid out until the plan’s distribution date, so this action does not represent an immediate buy or sell signal.