Tobin Richard J 4

What Happened

• Richard J. Tobin, a director of KeyCorp (KEY), was granted 7,352 Deferred Shares on May 14, 2026. The award is reported as a derivative grant (code A) at $0.00 per share — no cash was paid by the insider.
• The Deferred Shares are the economic equivalent of common shares; under the plan, payment will be made one-half in Common Shares and one-half in cash on May 14, 2029.

Key Details

• Transaction date: 2026-05-14; Form 4 filed 2026-05-18 (filed within the 2-business-day reporting window).
• Reported amount: 7,352 Deferred Shares granted; reported price $0.00 (non-purchase award).
• Notable footnotes: Includes ~832 dividend-equivalent Deferred Shares accrued in March 2026. Award made under KeyCorp’s Amended and Restated Directors’ Deferred Share Sub-Plan of the 2026 Equity Compensation Plan.
• Shares owned after transaction: Not specified in the filing.

Context

• This is an equity award (deferred share grant), not an open-market purchase or sale. Deferred shares typically reflect director compensation and vesting/payment schedules rather than an immediate market view.
• Payment structure (50% stock / 50% cash in 2029) means the economic exposure is delayed and partly cash-settled; the grant itself does not represent a current cash outlay or market trade.