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

Company: KEYCORP /NEW/
Filing Date: 2025-03-28
Form: DEF 14A
Chunk 14
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’s independent Lead Director for 2024. Among his specific responsibilities, the independent Lead Director:

| • |     | presides at all meetings of the Board at which the Chairman is not present, including executive sessions of the independent directors held after each regularly scheduled Board meeting; |

| • |     | serves as liaison between the Chairman and the independent directors; |

| • |     | approves Board meeting schedules as well as meeting materials and agendas for each full Board meeting and executive sessions of independent directors; |

| • |     | has the authority to call meetings of the independent directors or the full Board at any time; |

| • |     | participates in discussions with major shareholders regarding governance matters as part of KeyCorp’s proactive shareholder engagement; |

| • |     | is in frequent contact with the Chairman with respect to major issues and strategic opportunities before KeyCorp, and any significant actions contemplated by KeyCorp are discussed with the Lead Director at an early stage; |

| • |     | advises on the retention of independent consultants to the Board; |

| • |     | interviews all candidates for election to the Board; |

| • |     | oversees changes to the composition of Board committees; |

| • |     | assists the Board and management in assuring compliance with applicable securities laws and fiduciary duties to shareholders; |

| • |     | oversees initiatives to implement enhancements to KeyCorp’s governance policies, including the Corporate Governance Guidelines; |

| • |     | serves as a focal point for independent Committee Chairs, providing guidance, coordination, and advice for the committees; |

| • |     | together with the Chair of the Compensation and Organization Committee, facilitates the evaluation of the performance of KeyCorp’s Chief Executive Officer; and |

| • |     | is available for additional duties as they may arise. |

The Lead Director seeks input from independent directors during executive sessions with respect to items to be included on the agenda for each Board meeting and provides feedback from the independent directors while engaging in the agenda-building process. Each standing committee of the Board is chaired by an independent director and consists solely of independent directors. Our independent directors have extensive corporate governance and leadership experience, and many have significant public company experience. Five of our 14 independent directors are or have been chief executive officers of public companies. Christopher M. Gorman is the Chairman and Chief Executive Officer of KeyCorp. The Board believes that KeyCorp has been and will continue to be well served by Mr. Gorman’s combined role as Chairman and Chief Executive Officer. Mr.