Company: KEY-PI
Filing Date: 2025-03-28
Form Type: DEF 14A
Source: 0001193125-25-066284
Chunk: 66

Company: KEYCORP /NEW/
Filing Date: 2025-03-28
Form: DEF 14A
Chunk 66
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 compensation limits, subject to a maximum cap and a three-year vesting requirement. DSP account balances are invested on a bookkeeping basis in investment funds that mirror the funds offered under the 401(k) Savings Plan as well as in an interest-bearing fund with a monthly interest rate equal to 120% of the applicable long-term federal rate as published by the Internal Revenue Service. Distributions of vested DSP benefits are made following the employee’s separation from service. Long-Term Incentive Deferral Plan Beginning with performance share awards granted in 2019, executive officers are eligible to participate in our non-qualifiedLong-Term Incentive Deferral Plan, which provides our executive officers the ability to defer receipt of between 25% and 80% of their performance share award beyond the original vesting date to a date not sooner than their termination date. Performance share awards deferred under the Long-Term Incentive Deferral Plan are credited to participant accounts after the awards are earned and vested. Participant accounts under the Long-Term Incentive Deferral Plan are credited with earnings on a bookkeeping basis based on the value of notional KeyCorp common shares, plus dividend equivalents to be credited (where applicable) consistent with the manner of crediting dividend equivalents pursuant to the terms of the applicable performance share award. Potential Payments Upon Termination or Change of Control The following table describes the compensation and benefit enhancements that generally would be provided to the NEOs in various scenarios involving a termination of employment, other than compensation and benefits generally available to all salaried employees. We may also negotiate other benefits in connection with the termination of a NEO’s employment. The table describes our 2024 equity grant practices. To the extent relevant, prior practices are described in the footnotes.

| Termination Event (1) |     | Severance Pay  |     | Annual Incentive (2) |     | Stock Options      |     | Restricted Stock Units (3) |     | Performance Awards       |     | Nonqualified Pension Benefits (4) |     | Nonqualified Deferred  Compensation  (5) |
| Death                 |     | None           |     | Forfeited unless     
 employed on          
 payment date         |     | Full vesting; all  
 expire at earlier  
 of four years or   
 normal expiration  |     | Full vesting and           
 immediate                  
 distribution               |     | Full vesting and         
 immediate                
 distribution at          
 target                   |     | Full vesting of                   
 unvested                          
 balance with