Company: KEY-PI
Filing Date: 2025-03-28
Form Type: DEF 14A
Source: 0001193125-25-066284
Chunk: 62

Company: KEYCORP /NEW/
Filing Date: 2025-03-28
Form: DEF 14A
Chunk 62
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|                             |     | Second Excess Cash Balance Pension Plan |     |       18 |     |     802,844 |     |                 | — |
| Andrew J. “Randy” Paine III |     | Consolidated Cash Balance Pension Plan  |     |       16 |     |     244,900 |     |                 |   |
|                             |     | Second Excess Cash Balance Pension Plan |     |       16 |     |     559,960 |     |                 | — |
| Angela G. Mago              |     | Consolidated Cash Balance Pension Plan  |     |       22 |     |     432,379 |     |                 |   |
|                             |     | Second Excess Cash Balance Pension Plan |     |       22 |     |     111,340 |     |                 | — |

KeyCorp previously maintained both a qualified Consolidated Cash Balance Pension Plan (the “Pension Plan”) and a nonqualified Second Excess Cash Balance Pension Plan (the “Excess Plan”) in which employees, including NEOs, could participate. Credited service for Pension Plan and Excess Plan purposes was frozen as of December 31, 2009. Vesting service, however, continues to accrue. Pension Plan Effective December 31, 2009, KeyCorp froze the Pension Plan. Benefits accrued through December 31, 2009, will continue to be credited with interest until the participant commences distribution of benefits. The Pension Plan’s interest crediting rate is established annually and is based on the rate for 30-yearU.S. Treasury securities. For 2024, the Pension Plan’s interest crediting rate was 4.00%. Participants’ Pension Plan distributions may be made upon the participant’s retirement, termination of employment, or death. Distributions may be made in the form of a single lump sum payment, in the form of an annuity, or in a series of actuarially equivalent installments. Excess Plan KeyCorp established the Excess Plan effective January 1, 2005, and the Excess Plan was frozen on December 31, 2009. Benefits that accrued through December 31, 2009, continue to be credited with interest until distribution. The Excess Plan’s interest crediting rate is the same as the interest crediting rate for the Pension Plan. Distributions are in the form of an annuity or actuarially equivalent installments. Ms. Mago and