CUTLER ALEXANDER M 4

What Happened
Alexander M. Cutler, a director of KeyCorp (KEY), reported a conversion/exercise of 26,893 derivative units on 2026-07-01. The filing shows an acquisition (conversion) of 26,893 shares and a same‑day disposition of 26,893 shares reported at $0.00. No cash consideration or dollar value for the conversion was reported in the Form 4.

Key Details

• Transaction date: 2026-07-01; Form 4 filed 2026-07-06 (reporting period 2026-07-01).
• Transaction code: M (exercise or conversion of a derivative).
• Shares acquired (converted): 26,893; Shares disposed: 26,893 at $0.00.
• Price reported for acquisition: N/A; disposition price reported as $0.00; no total dollar value disclosed.
• Shares owned after the transaction: not specified in the provided filing.
• Footnote: Each deferred share is the economic equivalent of one common share (F1).
• No late‑filing indication provided in the submission.

Context
This filing reflects a derivative conversion (code M) — the conversion of deferred share units into common stock — with a simultaneous disposition reported at zero cash consideration. The Form 4 does not explain the reason for the $0 disposition (the filing does not state whether this reflects a transfer, plan settlement, tax withholding, or other administrative action). As with other insider filings, this is a factual record of the transaction and not a statement about Cutler’s view of the company.