Zions Bancorporation (NASDAQ: ZION) director awarded cash-settled units

(Moderate)

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Form Type

Rhea-AI Filing Summary

CRITTENDEN GARY L reported acquisition or exercise transactions in this Form 4 filing.

Zions Bancorporation director Gary L. Crittenden received a compensation award of 2,055 deferred compensation units tied to the company’s common stock. The award was valued at $63.26 per unit and increases his directly held deferred comp balance to 31,748.67 units.

Each unit is economically equivalent to one share of common stock but is a phantom stock unit settled in cash rather than stock. The units are payable in cash upon the earlier of his death or retirement, making this a non‑market, cash‑settled compensation grant rather than an open‑market share purchase.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider CRITTENDEN GARY L

Role Director

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

Holdings After Transaction: Deferred Comp — 31,748.67 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 Grant value per unit: $63.26 per unit Deferred comp units after grant: 31,748.67 units +1 more

4 metrics

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

Grant value per unit $63.26 per unit Reference value for new deferred compensation units

Deferred comp units after grant 31,748.67 units Total deferred compensation units held following transaction

Underlying security shares 2,055 shares Common stock equivalents underlying new deferred comp units

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."

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 05/04/2026 - 04:52 PM

FAQ

What did ZION director Gary L. Crittenden report on this Form 4?

Director Gary L. Crittenden reported receiving 2,055 deferred compensation units. These phantom stock units are tied to Zions Bancorporation’s common stock value and represent a compensation award, not an open-market stock purchase or sale.

How large is Gary L. Crittenden’s deferred comp position in ZION after this grant?

After the grant, Gary L. Crittenden holds 31,748.67 deferred compensation units. Each unit is economically equivalent to one share of Zions Bancorporation common stock but will ultimately be settled in cash instead of delivering actual shares.

At what value were the new ZION deferred compensation units granted?

The 2,055 deferred compensation units were granted at $63.26 per unit. This value is used to determine the notional size of the award, which tracks Zions Bancorporation’s common stock performance for compensation purposes.

Are Gary L. Crittenden’s ZION phantom stock units settled in stock or cash?

The phantom stock units are settled in cash, not stock. According to the disclosure, they are payable in cash upon the earlier of Gary L. Crittenden’s death or retirement, based on the value of Zions Bancorporation common stock.

Does this ZION Form 4 indicate any open-market buying or selling by the director?

No, the Form 4 reflects a grant of deferred compensation units, not open-market trading. The transaction is coded as a grant or award acquisition and represents non-market, cash-settled compensation linked to Zions Bancorporation stock value.

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^*

CRITTENDEN GARY L

(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	⁽¹⁾	05/01/2026		A		2,055		⁽²⁾	⁽²⁾	Common Stock	2,055	$63.26	31,748.67	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