Zions director granted 2,055 deferred units

Lee Vivian S reported acquisition or exercise transactions in this Form 4 filing.

(Moderate)

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Form Type

Rhea-AI Filing Summary

Lee Vivian S reported acquisition or exercise transactions in this Form 4 filing.

Zions Bancorporation director Vivian S. Lee received a grant of 2,055 Deferred Comp units tied to common stock at an economic value of $63.26 per unit. These phantom stock units are settled in cash upon death or retirement, bringing Lee’s total deferred units to 29,129.717.

Insider Trade Summary

Grant/Award: 2,055 shares

Grant/Award 1 txn

Insider Lee Vivian S

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Deferred Comp	2,055	$63.26	$130K

Holdings After Transaction: Deferred Comp — 29,129.717 contracts (Direct)

Footnotes (2)

F1. Each unit is the economic equivalent of one share of common stock.
F2. The phantom stock units are settled in cash upon the earlier of death or retirement

Key Figures

Deferred Comp units granted: 2,055 units Grant unit value: $63.26 per unit Total deferred units after grant: 29,129.717 units

3 metrics

Deferred Comp units granted 2,055 units Grant of phantom stock units on 2026-05-01

Grant unit value $63.26 per unit Economic value per phantom stock unit

Total deferred units after grant 29,129.717 units Deferred Comp units held following transaction

Key Terms

Deferred Comp, phantom stock units, economic equivalent

3 terms

Deferred Comp financial

"security_title: "Deferred Comp""

phantom stock units financial

"The phantom stock units are settled in cash upon the earlier of death or retirement"

Phantom stock units are company promises that pay a cash or stock-equivalent award tied to the firm’s share price or value growth, but they do not issue actual shares. Think of them as a bonus check that moves with the stock like a mirror rather than handing over an ownership slice. Investors care because these awards can affect a company’s future cash obligations, executive incentives and reported expenses without causing share dilution.

economic equivalent financial

"Each unit is the economic equivalent of one share of common stock."

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did ZIONS BANCORPORATION (ZION) director Vivian S. Lee report on this Form 4?

Vivian S. Lee reported receiving 2,055 Deferred Comp phantom stock units tied to Zions common stock. The units were granted at an economic value of $63.26 each and increase Lee’s total deferred units holding to 29,129.717 after the transaction.

Is the ZION Form 4 transaction a stock purchase or sale by Vivian S. Lee?

The Form 4 reflects a grant of Deferred Comp phantom stock units, not an open-market stock purchase or sale. It is a compensation-related acquisition classified under code A, meaning a grant, award, or other acquisition rather than a discretionary trade.

How many phantom stock units did Vivian S. Lee receive in this ZION filing?

Vivian S. Lee received 2,055 phantom stock units under a Deferred Comp arrangement. Each unit is the economic equivalent of one share of Zions common stock, and the grant increased her total deferred units position to 29,129.717 after the reported transaction.

At what value were the ZION Deferred Comp phantom stock units granted to Vivian S. Lee?

The phantom stock units were granted at an economic value of $63.26 per unit. Each unit is structured to mirror one share of Zions common stock in value, providing cash-settled compensation aligned with the company’s share price performance over time.

How and when are ZION phantom stock units for Vivian S. Lee settled?

The phantom stock units are settled in cash rather than shares. According to the filing footnotes, settlement occurs upon the earlier of Vivian S. Lee’s death or retirement, meaning the value will be paid out in cash at that future event.

What is Vivian S. Lee’s total Deferred Comp position in ZION after this grant?

After receiving 2,055 additional phantom stock units, Vivian S. Lee holds a total of 29,129.717 Deferred Comp units. Each unit is economically equivalent to one share of Zions common stock, giving her a sizeable cash-settled, share-linked compensation balance.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/04/2026 - 04:52 PM

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Lee Vivian S

(Last)

(First)

(Middle)

ONE SOUTH MAIN STREET, 11TH FLOOR

(Street)

SALT LAKE CITY

UTAH

84133-1109

(City)

(State)

(Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
ZIONS BANCORPORATION, NATIONAL ASSOCIATION /UT/ [ ZION ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
	Officer (give title below)	Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/01/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Deferred Comp	$0⁽¹⁾	05/01/2026		A		2,055		⁽²⁾	⁽²⁾	Common Stock	2,055	$63.26	29,129.717	D

Explanation of Responses:

1. Each unit is the economic equivalent of one share of common stock.

2. The phantom stock units are settled in cash upon the earlier of death or retirement

Remarks:

	By Rena Miller as attorney in fact	05/04/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR