Company: KEY-PI
Filing Date: 2025-01-03
Form Type: 8-K/A
Source: 0001193125-25-001536
Chunk: 1

Company: KEYCORP /NEW/
Filing Date: 2025-01-03
Form: 8-K/A
Chunk 1
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 |     | New York Stock Exchange |
| Depositary Shares (each representing a 1/40th interest in a share of Fixed Rate Perpetual Non-Cumulative Preferred Stock, Series G)             |     | KEY PrK   |     | New York Stock Exchange |
| Depositary Shares (each representing a 1/40th interest in a share of Fixed Rate Reset Perpetual Non-Cumulative Preferred Stock, Series H)       |     | KEY PrL   |     | New York Stock Exchange |

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2of the Securities Exchange Act of 1934 (§240.12b-2of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

EXPLANATORY NOTE KeyCorp (the “Company”) is filing this amendment (this “Amendment”) to the Current Report on Form 8-Koriginally filed by the Company with the Securities and Exchange Commission on December 31, 2024 (the “Original Form 8-K”)solely for the purpose of correcting a scrivener’s error contained in the table set forth under the caption “Capital and Earnings Improvement Awards” under Item 5.02 of the Original Form 8-K.The error related to the value of the Capital and Earnings Improvement Awards granted to each of Andrew J. “Randy” Paine and Angela G. Mago. No other changes are being made to any other disclosure contained in the Original Form 8-K.All defined terms used in this Amendment and not otherwise defined herein shall have the meanings set forth in the Original Form 8-K.

| Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |

Capital and Earnings Improvement Awards On December 30, 2024, the Compensation and Organization Committee of the Board (the “Compensation Committee”) granted share-settled performance-based equity awards (the “Capital and Earnings Improvement Awards” or, the “Awards”) under the Company’s Amended and Restated 2019 Equity Plan