KEYCORP director Barbara R. Snyder reported on October 1, 2026, the distribution of 1,526 Deferred Shares as 1,526 Common Shares and a separate conversion of 1,417 Deferred Shares into 1,417 Common Shares. The 1,526 Deferred Shares include approximately 80 dividend-equivalent deferred shares accrued in September 2026; the 1,526 Common Shares include approximately 133 shares acquired through September dividend reinvestments. The 1,417 Deferred Shares are each economically equivalent to one Common Share and include approximately 1,417 dividend-equivalent deferred shares accrued under the Amended and Restated Directors’ Deferred Share Sub-Plan to the KeyCorp 2026 Equity Compensation Plan.
KEYCORP director Todd J. Vasos acquired 1,930 Deferred Shares on September 30, 2026. His reported Deferred Share balance following the award was 53,006, including approximately 478 dividend-equivalent deferred shares accrued in September 2026; his reported Common Shares position was 62,640. Under the Deferred Share Plan, deferred directors’ fees are converted into deferred shares that are economic equivalents of common shares.
KeyCorp director Devina A. Rankin acquired 1,557 deferred shares on September 30, 2026, under the Deferred Share Plan. Her reported deferred-share balance following the transaction was 93,706 shares, including approximately 862 dividend-equivalent deferred shares accrued in September 2026; she also held 13,430 common shares directly. The plan converts deferred directors' fees into shares that are the economic equivalent of common shares.
KeyCorp director Robin Hayes acquired 1,557 deferred shares on September 30, 2026, under the Directors' Deferred Share Sub-Plan. Under the plan, deferred directors' fees convert into deferred shares that are the economic equivalent of common shares, with payment deferred until the earlier of January 1, 2030, or the participant's death.
After the acquisition, Hayes directly held 54,809 deferred shares and 35,519 common shares.
KeyCorp director Alexander M. Cutler acquired 840 Deferred Shares on September 30, 2026, under the directors’ deferred-fee plan. Deferred fees are converted into shares economically equivalent to common shares, and payment is deferred until the earlier of July 1, 2027, or the participant’s death. After the transaction, Cutler held 40,823 Deferred Shares, including approximately 374 dividend-equivalent shares accrued in September 2026, and 325,309 Common Shares directly.
KeyCorp posted a September 2026 investor presentation outlining 2Q26 and first-half results, business priorities and targets. For 1H26, taxable-equivalent revenue was $3,917 million, up 8% from 1H25; diluted EPS was $0.88, up 28%, and taxable-equivalent net interest income was $2,488 million, up 10%. 2Q26 revenue was $1,964 million.
Assets under management reached a record $74 billion as of June 30, 2026. KeyCorp reported a 9.8% marked CET1 ratio and net charge-offs of 42 basis points of average loans in 2Q26. It repurchased $341 million of common shares in 2Q26 at an average $21.95 per share. In May 2026, the Board authorized up to $3 billion of repurchases; KeyCorp expects at least $1.3 billion in 2026. Its planned technology budget is about $1 billion, up about $200 million from 2024.
For FY2026, KeyCorp projects taxable-equivalent revenue growth of about 8%, net interest income growth of 9–11%, and a 4Q26 exit net interest margin of 3.00–3.05%. It projects average loan growth of 4–5% and net charge-offs to average loans of 40–45 basis points. Its 4Q27 targets are net interest margin of 3.25%+ and ROTCE of 15%+.
KEYCORP (symbol: KEY) is the issuer of record for a Form 4 filing submitted to the SEC. Gorman Christopher M. reported disposition transactions in this Form 4 filing.
KEYCORP Chairman and CEO Christopher M. Gorman reported that 29,821 common shares were transferred from a grantor retained annuity trust to his children when the trust terminated on September 21, 2026. The remaining shares in the trust were returned to Gorman and are reported as directly owned; his direct holding was 929,451 shares, including approximately 191 shares acquired under the KeyCorp Second Amended and Restated Discounted Stock Purchase Plan since March 2026.
A separate indirect holding of 5,443 shares in the 401(k) Plan was reported as of September 22, 2026.
KeyCorp (KEY) used a Barclays Global Financial Services Conference presentation to outline its 2026 outlook and provide context on recent results. Management expects full-year 2026 revenue to grow by roughly 8% from a 2025 baseline of $7.5 billion on an operating, taxable-equivalent basis, with net interest income projected to rise 9–11% from a $4.7 billion baseline.
The outlook assumes 4Q 2026 net interest margin of 3.00–3.05%, average earning assets up $1–2 billion from 2Q 2026, and 2026 noninterest income growth of 4–5% (or 6–7% on an adjusted basis). Adjusted noninterest expense is expected to increase about 4% from a $4.7 billion 2025 baseline. Average loans are guided to grow 4–5% from a $105.7 billion 2025 average, including 8–10% growth in average commercial loans from a $74.5 billion baseline. Guidance incorporates a GAAP tax rate of about 22% and a tax-equivalent effective rate near 23%, and is presented using several non-GAAP measures with reconciliations described in the presentation.
KeyCorp plans to redeem all outstanding Series D Fixed-to-Floating Rate Perpetual Non-Cumulative Preferred Stock represented by depositary shares. The redemption covers 525,000 depositary shares, representing 21,000 preferred shares with an aggregate liquidation preference of $525,000,000, effective on September 15, 2026.
Each preferred share will be redeemed for $25,312.50 (or $1,012.50 per depositary share), equal to the $25,000 per share liquidation preference plus accumulated and unpaid dividends and distributions through the redemption date. After redemption, the Series D preferred stock will no longer be outstanding, with only the right to receive the redemption price remaining.
KeyCorp generated $472 million of net income from continuing operations attributable to common shareholders in the second quarter of 2026, equal to $0.44 of diluted EPS. Taxable-equivalent net interest income was $1.26 billion with a 2.89% net interest margin, both higher than a year earlier.
Average loans reached $110.1 billion, driven by commercial growth, while consumer balances declined as low-yielding loans were run off. Total loans were $110.4 billion and deposits $153.1 billion at June 30, 2026; uninsured deposits were 45% of total. The provision for credit losses fell to $92 million as prior-year reserve builds were not repeated, with net charge-offs of 42 basis points. Assets under management rose to $74.2 billion, up 15.5% year-over-year, supporting fee income growth.
Capital remained strong, with a Common Equity Tier 1 ratio of 11.17%. KeyCorp repurchased $341 million of common shares in the quarter under a new $3.0 billion authorization and raised its 2026 outlook for revenue, net interest income, and average loans, reflecting stronger commercial loan demand and ongoing client acquisition.