[8-K] KEYCORP /NEW/ Reports Material Event

Rhea-AI Filing Summary

KeyCorp filed a prospectus supplement registering 161,968,762 common shares, par value $1.00 per share, that were issued to The Bank of Nova Scotia under an Investment Agreement dated August 12, 2024. These shares were issued previously and are now covered by KeyCorp’s existing shelf Registration Statement on Form S-3 (No. 333-272573) through this supplement filed on December 23, 2025. The Investment Agreement required KeyCorp to file this prospectus supplement no later than December 27, 2025. In connection with the supplement, KeyCorp is also filing a legal opinion from Squire Patton Boggs (US) LLP and related consent as exhibits.

KEYCORP /NEW/ Depositary Shares (each representing a 1/40th interest in a share of Fixed-to-Floating Rate Perpetual Non-Cumulative Preferred Stock, Series E) false 0000091576 0000091576 2025-12-23 2025-12-23 0000091576 key:CommonShares1ParValueMember 2025-12-23 2025-12-23 0000091576 key:DepositarySharesEachRepresentingA140thInterestInAShareOfFixedToFloatingRatePerpetualNonCumulativePreferredStockSeriesEMember 2025-12-23 2025-12-23 0000091576 us-gaap:SeriesFPreferredStockMember 2025-12-23 2025-12-23 0000091576 us-gaap:SeriesGPreferredStockMember 2025-12-23 2025-12-23 0000091576 us-gaap:SeriesHPreferredStockMember 2025-12-23 2025-12-23

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): December 23, 2025

KeyCorp

(Exact name of registrant as specified in charter)

Ohio		001-11302		34-6542451
State or other jurisdiction of incorporation or organization:		Commission File Number		I.R.S. Employer Identification Number:

127 Public Square, Cleveland, Ohio		44114-1306
Address of principal executive offices:		Zip code:

(216) 689-3000

Registrant’s telephone number, including area code:

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities Registered Pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Shares, $1 par value		KEY		New York Stock Exchange
Depositary Shares (each representing a 1/40th interest in a share of Fixed-to-Floating Rate Perpetual Non-Cumulative Preferred Stock, Series E)		KEY PrI		New York Stock Exchange
Depositary Shares (each representing a 1/40th interest in a share of Fixed Rate Perpetual Non-Cumulative Preferred Stock, Series F)		KEY PrJ		New York Stock Exchange
Depositary Shares (each representing a 1/40th interest in a share of Fixed Rate Perpetual Non-Cumulative Preferred Stock, Series G)		KEY PrK		New York Stock Exchange
Depositary Shares (each representing a 1/40th interest in a share of Fixed Rate Reset Perpetual Non-Cumulative Preferred Stock, Series H)		KEY PrL		New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 8.01 Other Events.

On December 23, 2025, KeyCorp (the “Company”) filed a prospectus supplement to its Registration Statement on Form S-3 (No. 333-272573) (the “Registration Statement”) filed with the U.S. Securities and Exchange Commission under the Securities Act of 1933, as amended, with respect to the registration of 161,968,762 common shares, par value $1.00 per share, of the Company that were issued to The Bank of Nova Scotia (“BNS”) pursuant to the Investment Agreement, dated as of August 12, 2024, by and between the Company and BNS. Pursuant to the terms of the Investment Agreement, the Company was required to file this prospectus supplement no later than December 27, 2025.

In connection with the filing of the prospectus supplement, the Company is filing a legal opinion as Exhibit No. 5.1 to this Current Report on Form 8-K, which is incorporated by reference into the Registration Statement.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.		Description of Exhibit
5.1		Opinion of Squire Patton Boggs (US) LLP.
23.1		Consent of Squire Patton Boggs (US) LLP (included in Exhibit 5.1).
104		Cover Page Interactive Data File (embedded within Inline XBRL document).

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

				KEYCORP
				(Registrant)
Date: December 23, 2025
				/s/ Andrea R. McCarthy
				Name:		Andrea R. McCarthy
				Title:		Assistant Secretary