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KeyCorp's 8-K Amendment: Ensuring Accurate Executive Compensation Reporting

$KEY
Form 8-K/A
Filed on: 2025-01-03
Source
KeyCorp's 8-K Amendment: Ensuring Accurate Executive Compensation Reporting

Based on the provided financial report section, here are the key pieces of information and insights:

  1. Entity Information:
  • Company Name: KeyCorp
  • CIK Code: 0000091576
  • SEC File Number: 001-11302
  • Location: 127 Public Square, Cleveland, OH 44114-1306
  • Phone: 216-689-3000
  1. Filing Details:
  • Filing Type: Amendment to Current Report on Form 8-K
  • Original Filing Date: December 31, 2024
  • Amendment Date: December 27, 2024
  • Purpose of Amendment: To correct a scrivener's error in the table under "Capital and Earnings Improvement Awards" related to the values granted to executives Andrew J. "Randy" Paine and Angela G. Mago.
  1. Stock Information:
  • Common Shares: $1 par value
  • Ticker Symbol: KEY (NYSE)
  • Depositary Shares: Representing 1/40th interest in various series of Fixed-to-Floating Rate Perpetual Non-Cumulative Preferred Stock:
    • Series E (Ticker: KEY PrI)
    • Series F (Ticker: KEY PrJ)
    • Series G (Ticker: KEY PrK)
    • Series H (Ticker: KEY PrL)
  1. Context and Period:
  • The report is contextualized for a specific duration from December 27, 2024, to December 27, 2024, indicating it pertains to a single day or event.
  1. Capital and Earnings Improvement Awards:
  • The filing specifically addresses and corrects a prior error related to awards given to two executives, which is significant for transparency and accuracy in executive compensation reporting.

Insights:

  • The amendment indicates that KeyCorp is committed to maintaining accurate reporting standards, especially concerning executive compensation, which is critical for investor trust and regulatory compliance.
  • The presence of various series of preferred stock highlights KeyCorp's capital structure and may be of interest to investors seeking income through dividends.
  • The filing serves as a reminder of the importance of precise disclosures in SEC filings, as errors can affect shareholder perceptions and regulatory scrutiny.

Overall, this report illustrates KeyCorp's financial governance practices and its ongoing commitment to transparency in its communications with investors and regulators.