Zions (ZION) director reports 846.405 deferred units; ownership 122,494

Q: What did Stephen D. Quinn report on Form 4 for ZION?

He reported an acquisition of 846.405 deferred compensation phantom stock units on 10/03/2025, increasing direct beneficial ownership to 122,493.706 shares.

Q: Are the reported phantom stock units for ZION settled in stock or cash?

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

Q: Who filed the Form 4 on behalf of the reporting person?

The signature block shows the form was filed By Rena Miller as attorney in fact on 10/06/2025.

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Stephen D. Quinn, a director of Zions Bancorporation, National Association (ZION), reported an acquisition of 846.405 deferred compensation phantom stock units on 10/03/2025. The units are recorded with a $0 per‑unit price and will be settled in cash upon the earlier of death or retirement. After the reported acquisition the filing shows total beneficial ownership of 122,493.706 shares (direct).

Positive

Director ownership increased to 122,493.706 shares, aligning insider interests with shareholders
Grant settled in cash, avoiding immediate share issuance or dilution

Negative

Units recorded at $0 indicate a compensation grant rather than a market purchase
Potential future cash liability exists when phantom units are settled at death or retirement

Insights

Director added deferred compensation units that convert to cash, slightly increasing direct stake.

The filing documents an acquisition of 846.405 phantom stock units granted under deferred compensation, recorded at $0 per unit and payable in cash at death or retirement. This increases the reporting person’s direct beneficial ownership to 122,493.706 shares.

This is a compensation-related grant rather than an open-market purchase, so voting/dilution effects are limited because the units settle in cash rather than issuing new shares. Monitor future disclosures for any cash obligations when units vest or are settled, and check subsequent Forms 4 for exercises or cash payouts within the next 12–36 months.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider QUINN STEPHEN D

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Deferred Comp	846.405	$0.00	$0.00

Holdings After Transaction: Deferred Comp — 122,493.706 shares (Direct)

Footnotes (1)

F1. The phantom stock units are settled in cash upon the earlier of death or retirement.

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

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Form 4 Insider Transactions: What Each Field Means →

Accepted by SEC EDGAR 10/06/2025 - 04:58 PM

FAQ

What did Stephen D. Quinn report on Form 4 for ZION?

He reported an acquisition of 846.405 deferred compensation phantom stock units on 10/03/2025, increasing direct beneficial ownership to 122,493.706 shares.

Are the reported phantom stock units for ZION settled in stock or cash?

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

What price was reported for the derivative/deferred units?

The units are reported with a price of $0 per unit.

Does this Form 4 show a sale of ZION shares by the director?

No. The Form 4 records an acquisition of deferred compensation units, not a sale of common stock.

Who filed the Form 4 on behalf of the reporting person?

The signature block shows the form was filed By Rena Miller as attorney in fact on 10/06/2025.

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^*

QUINN STEPHEN D

(Last)

(First)

(Middle)

ONE SOUTH MAIN ST, 15TH FL

(Street)

SALT LAKE CITY

84133

(City)

(State)

(Zip)

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)

3. Date of Earliest Transaction (Month/Day/Year)
10/03/2025

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

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

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

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	10/03/2025		A		846.405		⁽¹⁾	⁽¹⁾	Common Stock	846.405	$0	122,493.706	D

Explanation of Responses:

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

Remarks:

	By Rena Miller as attorney in fact	10/06/2025
	** 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.

Source: View Original Filing on SEC EDGAR