Company: KEY-PI
Filing Date: 2025-03-28
Form Type: DEF 14A
Source: 0001193125-25-066284
Chunk: 0

Company: KEYCORP /NEW/
Filing Date: 2025-03-28
Form: DEF 14A
Chunk 0
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14AINFORMATION Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 Filed by the Registrant ☒ Filed by a Party other than the Registrant ☐ Check the appropriate box:

| ☐ |     | Preliminary Proxy Statement                                                    |
| ☐ |     | Confidential, for Use of the Commission Only (as permitted by Rule14a-6(e)(2)) |
| ☒ |     | Definitive Proxy Statement                                                     |
| ☐ |     | Definitive Additional Materials                                                |
| ☐ |     | 14a-12                                                                         |

KEYCORP (Name of Registrant as Specified In Its Charter) (Name of Person(s) Filing Proxy Statement, if other than the Registrant) Payment of Filing Fee (Check all boxes that apply):

| ☒ |     | No fee required.                                |
| ☐ |     | Fee paid previously with preliminary materials. |
| ☐ |     | Rules 14a-6(i)(1)                               
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#### 127 PUBLIC SQUARECLEVELAND, OHIO 44114March 28, 2025Message toShareholdersCHRISTOPHER M. GORMANChairman of the Board andChief Executive OfficerDear fellow shareholder:On behalf of your Board of Directors, I am pleased to invite you to KeyCorp’s 2025 Annual Meeting of Shareholders on Thursday, May 15, 2025, beginning at 8:30 a.m., ET. Shareholders will be provided an opportunity to ask questions about KeyCorp’s business and affairs. Information about how to attend the virtual meeting is on page 75 of this proxy statement.I look forward to this opportunity to share my perspective on our company’s performance in 2024. I remain very optimistic about our ability to realize KeyCorp’s earnings potential while concurrently delivering value for you, our shareholders, and every stakeholder we serve.You will be asked to vote on several items including the election of directors, our 2024 executive compensation program (the“say-on-pay”vote), and ratification of Ernst & Young as our independent auditor for 2025.We encourage you to review this year’s notice and proxy statement, which contain important information about proxy voting and the business to be conducted at the meeting. We hope you will attend the virtual meeting and we encourage you to vote your