Company: KEY-PI
Filing Date: 2025-03-28
Form Type: DEF 14A
Source: 0001193125-25-066284
Chunk: 40

Company: KEYCORP /NEW/
Filing Date: 2025-03-28
Form: DEF 14A
Chunk 40
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     |          |     |         |     |        |     | 100.6%        |

| (1) | Adjusted EPS and Adjusted ROTCE exclude notable items and any other items agreed to by the Compensation Committee, as well as to remove the impact of the change in loan and lease loss provision and other unplanned items, each as further described below under the heading “Definitions of Certain Financial Goals.” |

| (2) | The Compensation Committee determined that our overall performance relative to peers with respect to Revenue Growth, PPNR Growth, and Net Charge-Offs/Average Loans was in the Middle Quartile for each measure. |

| (3) | Performance against operational excellence metrics was in line with expectations in 2024. With respect to our workforce, workplace and marketplace goals, we either met or exceeded expectations. We also made progress on our goal of achieving risk management excellence, working diligently throughout the year to improve our risk profile by proactively self-identifying and sustainably remediating issues. |

| 34 |

Compensation Discussion and Analysis Results of 2022 Performance Awards In February 2022, each NEO received an award of performance shares as part of their long-term incentive opportunity. The NEOs could earn between 0% and 150% of the performance shares granted based on the achievement of our 2022 long-term incentive plan. However, because our financial performance for the 2022-2024 performance period was below the threshold levels set out in our long-term incentive plan, the Compensation Committee certified a final performance level for our 2022 long-term incentive plan of 0%, as described below.

| 2022-2024 Long-Term Incentive Plan              |     |        |     |                      |     |         |     |         |     |         |     |         |
|                                                 |     |        |     | Performance Required 
           for Payout |     |         |     |         |     |         |     |         |
| Performance Goals (1)                           |     | Weight |     |                 Min. |     |  Target |     |    Max. |     |  Actual 
  Result |     | Final   
 Funding |
| Return on Tangible Common Equity vs. Peer Group |     | 50%    |     |              25% ile |     | 50% ile |     | 75% ile |     | 18% ile |     | 0%      |
| Cumulative Earnings