Dallas H James 4

What Happened Dallas H. James, a director of KeyCorp (KEY), converted 18,118 deferred share units on May 11, 2026. Per the filing, roughly half of the converted units (9,059 Deferred Shares) were settled for cash at $21.41 each (total $193,953), and the remaining ~9,058 Deferred Shares were settled in KeyCorp common shares (acquired). This was a conversion/settlement of deferred compensation (derivative) rather than an open-market sale or purchase.

Key Details

• Transaction date: May 11, 2026. Form 4 filed May 13, 2026 (timely).
• Actions reported: Exercise/conversion of deferred-share units (derivative code M) and disposition to issuer for cash (code D).
• Cash received: $193,953 for 9,059 Deferred Shares at $21.41 per share (cash settlement based on 30-trading-day average closing price).
• Shares received: ~9,058 KeyCorp common shares issued in settlement of Deferred Shares.
• Footnotes: The Deferred Shares were economic equivalents to common shares; the reported total includes approximately 1,637 dividend-equivalent Deferred Shares accrued between June 2025 and March 2026.
• Shares owned after the transaction: not specified in the summary data provided on this filing.

Context This transaction reflects routine settlement of deferred-compensation units (some cash, some share settlement). It is not an open-market purchase or a market sale by the director; instead, the company settled accrued deferred shares per plan terms. Such settlements are typically administrative and do not by themselves indicate insider sentiment about the stock.