Company: KEY-PI
Filing Date: 2025-01-06
Form Type: SCHEDULE 13D
Source: 0000950157-25-000042
Chunk: 0

Company: KEYCORP /NEW/
Filing Date: 2025-01-06
Form: SCHEDULE 13D
Chunk 0
---
, to the extent permitted under the Investment Agreement and applicable laws, the Reporting Person may propose or take one or more of the actions described in subsections (a) through (j) of Item 4 of Schedule 13D and may discuss such actions with management of the Issuer, the board of directors of the Issuer (the "Key Board"), other shareholders of the Issuer and other relevant parties, including extraordinary corporate transactions involving the Issuer, such as: mergers; sales or acquisitions of assets or businesses; changes to the capitalization or dividend policy of the Issuer; or other material changes to the Issuer's business, governance or corporate structure. 
 As further described in Item 6 below, pursuant to the Investment Agreement, the Reporting Person has the right to designate individuals to be elected or nominated for election to the Key Board. The directors designated by BNS may influence the corporate activities of the Issuer, including activities that may relate to transactions or other matters described in clauses (a) through (j) of Item 4 of Schedule 13D, and therefore, the Reporting Person may indirectly have such influence through the Issuers' directors that it has designated. However, as described in Item 6 below, in no event will BNS have a right to designate a number of nominees that, upon election to the Key Board, would cause BNS to be presumed to "control" the Issuer pursuant to the Bank Holding Company Act of 1956 (the "BHC Act").                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
 Other than as described in this Item 4, the Reporting Person does not have any current plans or proposals that relate to or that would result in any of the transactions or other matters specified in clauses (a) through (j) of Item 4 of Schedule 13D; provided that, depending on the factors discussed herein, the Reporting Person may change its purpose or formulate different plans or proposals with respect thereto at any time.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| Item 5.                                                                                                                                                                                                                                                                                         | Interest in Securities of the Issuer                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
| (a)                                                                                                                                                                                                                                                                                             | The information set forth in or incorporated by reference in Item 2, Item 3 and Item 6 of this Schedule 13D is hereby incorporated by reference in its entirety into this Item 5.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
 The aggregate number and percentage of Common Shares