Company: KEY-PI
Filing Date: 2025-03-28
Form Type: DEF 14A
Source: 0001193125-25-066284
Chunk: 32

Company: KEYCORP /NEW/
Filing Date: 2025-03-28
Form: DEF 14A
Chunk 32
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,773 |     |                   | 18.73 |     |                      | 31,436,754 |
| Equity compensation plans not approved by security holders |     |                |         — |     |                   |     — |     |                      |          — |
| Total                                                      |     |                | 4,378,773 |     |                   | 18.73 |     |                      | 31,436,754 |

| (1) | The table does not include 24,152,793 unvested shares of time-lapsed and performance-based restricted stock units awarded under the Equity Plan and the 2013 Plan. These unvested restricted stock units were issued when awarded and consequently are included in KeyCorp’s common shares outstanding. |

| (2) | The Compensation Committee of the Board has determined that KeyCorp may not grant options to purchase KeyCorp common shares, shares of restricted stock, or other share grants under its long-term compensation plans in an amount that exceeds six percent of KeyCorp’s outstanding common shares in any rolling three-year period. |

More information about these awards can be found in Note 17 (“Stock-Based Compensation”) to the Consolidated Financial Statements beginning on page 162 of our Annual Report on Form 10-Kfor the year ended December 31, 2024 (the “2024 Annual Report”), which was filed with the SEC on February 21, 2025.

| 28 |

Compensation Discussion and Analysis Compensation Discussion and Analysis This Compensation Discussion and Analysis provides information regarding the compensation of our executive officers. Table of Contents The contents of the Compensation Discussion and Analysis are organized as follows:

| Objectives of Our Compensation Program     |     | 29 |
| Overview of 2024 Performance               |     | 32 |
| Total Pay for our Named Executive Officers |     | 32 |
| CEO Proxy Reported Pay vs. Realized Pay    |     | 39 |

| Other Elements of Compensation                                       |     | 40 |
| How We Make Pay Decisions                                            |     | 42 |
| Policies and Practices Related to the Grant of Certain Equity Awards |     | 47 |

Objectives of Our Compensation Program Our success depends on the ability to attract, retain, motivate, and develop our teammates. We provide competitive total rewards, including pay and benefits, that support these efforts. Competition for talent in our business is strong, and we increasingly compete for talent outside of the core financial services industry. We make investments to hire, develop, motivate, and retain