Zions (ZION) director receives 2,055 cash-settled phantom units

Q: What did ZION director Aaron Skonnard report in this Form 4?

Aaron Skonnard reported receiving a grant of 2,055 deferred compensation units tied to Zions Bancorporation common stock value. This award increases his deferred compensation balance and represents routine, non-market compensation rather than an open-market stock purchase or sale.

Q: How many deferred compensation units does Aaron Skonnard now hold at ZION?

After the latest grant, Aaron Skonnard holds a total of 39,449.911 deferred compensation units . These phantom stock units track Zions Bancorporation common stock value and are eventually settled in cash, providing long-term, stock-linked compensation for his board service.

Q: At what value were Aaron Skonnard’s new ZION deferred comp units granted?

The new 2,055 deferred compensation units were granted at a reference value of $63.26 per unit . This figure reflects the economic value per phantom unit, which is designed to mirror one share of Zions Bancorporation common stock for compensation purposes.

Q: Are the ZION phantom stock units actual shares of common stock?

The units are not actual shares ; they are phantom stock units economically equivalent to one share of common stock each. According to the disclosure, these units are settled in cash rather than stock, upon the earlier of death or retirement.

Q: When will Aaron Skonnard’s ZION phantom stock units be settled?

The phantom stock units will be settled in cash upon the earlier of death or retirement . Until that time, they function as deferred compensation linked to Zions Bancorporation’s common stock value, aligning director pay with long-term shareholder interests.

Q: Does this ZION Form 4 show any stock being bought or sold on the market?

No open-market trades are shown. The filing reports a grant of deferred compensation units , classified as a derivative award. These cash-settled phantom stock units differ from buying or selling actual Zions Bancorporation shares on the open market.

Filing Impact

(Moderate)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Skonnard Aaron reported acquisition or exercise transactions in this Form 4 filing.

Director Aaron Skonnard received a grant of deferred compensation units linked to Zions Bancorporation common stock value. The award covers 2,055 units at a reference value of $63.26 per unit, bringing his deferred comp balance to about 39,449.911 units.

Each unit is economically equivalent to one share of common stock, but the phantom stock units are settled in cash rather than actual shares. Payment occurs upon the earlier of death or retirement, making this a routine, long-term compensation grant rather than an open-market stock purchase or sale.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Skonnard Aaron

Role Director

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

Holdings After Transaction: Deferred Comp — 39,449.911 shares (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 Reference value per unit: $63.26 per unit Deferred comp units after grant: 39,449.911 units +2 more

5 metrics

Deferred comp units granted 2,055 units Grant of deferred compensation units on May 1, 2026

Reference value per unit $63.26 per unit Value used for the 2,055-unit deferred comp grant

Deferred comp units after grant 39,449.911 units Total deferred compensation units following the transaction

Underlying common stock equivalence 2,055 shares Each new unit is economically equivalent to one share

Conversion or exercise price $0.00 Phantom units reflect stock value; no exercise price applies

Key Terms

Deferred Comp, phantom stock units, economic equivalent, Common Stock

4 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."

Common Stock financial

"underlying_security_title: "Common Stock""

Common stock represents ownership shares in a company, giving investors a stake in its success and a say in important decisions through voting rights. It is the most common type of stock traded on markets and can provide income through dividends, as well as potential for value growth. For investors, holding common stock means sharing in the company’s profits and risks.

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

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google

Form 4 Insider Transactions: What Each Field Means →

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

FAQ

What did ZION director Aaron Skonnard report in this Form 4?

Aaron Skonnard reported receiving a grant of 2,055 deferred compensation units tied to Zions Bancorporation common stock value. This award increases his deferred compensation balance and represents routine, non-market compensation rather than an open-market stock purchase or sale.

How many deferred compensation units does Aaron Skonnard now hold at ZION?

After the latest grant, Aaron Skonnard holds a total of 39,449.911 deferred compensation units. These phantom stock units track Zions Bancorporation common stock value and are eventually settled in cash, providing long-term, stock-linked compensation for his board service.

At what value were Aaron Skonnard’s new ZION deferred comp units granted?

The new 2,055 deferred compensation units were granted at a reference value of $63.26 per unit. This figure reflects the economic value per phantom unit, which is designed to mirror one share of Zions Bancorporation common stock for compensation purposes.

Are the ZION phantom stock units actual shares of common stock?

The units are not actual shares; they are phantom stock units economically equivalent to one share of common stock each. According to the disclosure, these units are settled in cash rather than stock, upon the earlier of death or retirement.

When will Aaron Skonnard’s ZION phantom stock units be settled?

The phantom stock units will be settled in cash upon the earlier of death or retirement. Until that time, they function as deferred compensation linked to Zions Bancorporation’s common stock value, aligning director pay with long-term shareholder interests.

Does this ZION Form 4 show any stock being bought or sold on the market?

No open-market trades are shown. The filing reports a grant of deferred compensation units, classified as a derivative award. These cash-settled phantom stock units differ from buying or selling actual Zions Bancorporation shares on the open market.

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^*

Skonnard Aaron

(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	39,449.911	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