Company: KEY-PI
Filing Date: 2025-03-28
Form Type: DEF 14A
Source: 0001193125-25-066284
Chunk: 39

Company: KEYCORP /NEW/
Filing Date: 2025-03-28
Form: DEF 14A
Chunk 39
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. Mago’s first full year as Key’s Chief Human Resources Officer, during which Ms. Mago led important work around culture, talent, and teammate engagement in a challenging environment. In light of her performance, Ms. Mago received actual total pay for 2024 of $3,000,000, or 100% of target. Ms. Mago’s actual total pay for 2024 reflected the downward adjustments to her target pay opportunity reflecting the change in her role from Head of Commercial Bank to Chief Human Resources Officer. Ms. Brady, Chief Information Officer As head of our technology, operations and servicing businesses, Ms. Brady focused in 2024 on continuing to strengthen Key’s data management and governance practices. In addition, Ms. Brady oversaw continued migration to the cloud, including our contact center technology and our consumer online banking portal. In recognition of her efforts in 2024, the Compensation Committee approved actual total pay of $3,400,000, a 9% increase from her 2023 actual total pay of $3,110,000.

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Compensation Discussion and Analysis 2024 Annual Incentive Plan Performance & Funding All executive officers, along with most Key employees who are not paid from a business-unit specific incentive plan, were eligible to receive discretionary cash incentive pay under our 2024 Annual Incentive Plan.

| • |     | Funding of annual incentives is based on achievement of financial and strategic goals, shown below for the 2024 performance year, compared to pre-established targets approved by the Compensation Committee in the first quarter of 2024. Funding under the 2024 Annual Incentive Plan is capped at 150%, with 0% funding for executive officers if a threshold level of performance was not achieved. |

| • |     | Actual incentives awarded to our executive officers may and do vary from this funding level. Our practices generally do not allow an executive officer to receive more than 200% of the annual incentive target to be paid in cash. |

For the 2024 performance period, the Compensation Committee approved a funding rate of 100.6%. Adjusted EPS and ROTCE performed slightly below target levels, offset by favorable performance on CET1, driven by lower risk-weighted assets combined with material reductions in loans, and relative performance to peers and operational excellence in line with expected results. The Compensation Committee believes this funding rate recognizes the actions taken by Management to deliver this level of performance.

| KeyCorp 2024 Annual Incentive Plan