Zions Bancorporation (ZION) EVP Stephens sells shares, exercises stock options

Rhea-AI Filing Summary

Zions Bancorporation executive Steven Dan Stephens reported exercising stock options and selling common shares on 02/06/2026. He sold 4,000 common shares at a weighted average price of $65.91 and later sold 4,769 and 6,707 shares at weighted average prices around $65.90.

On the same date, he exercised stock options for 2,106 and 4,769 shares at an exercise price of $51.17, and 6,707 shares at $45.65. After these transactions, he directly owned 43,233 shares of common stock.

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

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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^*

STEPHENS STEVEN DAN

(Last) (First) (Middle)

ONE SOUTH MAIN, 11TH FLOOR

(Street)

SALT LAKE CITY UT 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)

	Director		10% Owner
X	Officer (give title below)	X	Other (specify below)
	Executive Vice President		Division CEO

3. Date of Earliest Transaction (Month/Day/Year)
02/06/2026

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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	02/06/2026		S		4,000	D	$65.91	41,127	D
Common Stock	02/06/2026		M		2,106	A	$51.17	43,233	D
Common Stock	02/06/2026		M		4,769	A	$51.17	48,002	D
Common Stock	02/06/2026		S		4,769	D	$65.902(1)	43,233	D
Common Stock	02/06/2026		M		6,707	A	$45.65	49,940	D
Common Stock	02/06/2026		S		6,707	D	$65.901(2)	43,233	D

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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option (right to buy)	$51.17	02/06/2026		M			2,106	(3)	02/28/2026	Common Stock	2,106	$51.17	4,769	D
Stock Option (right to buy)	$51.17	02/06/2026		M			4,769	(3)	02/28/2026	Common Stock	4,769	$51.17	0	D
Stock Option (right to buy)	$45.65	02/06/2026		M			6,707	(3)	02/09/2027	Common Stock	6,707	$45.65	2,190	D

Explanation of Responses:

1. This transaction was executed in multiple trades at prices ranging from $65.88 to $65.95. The price reported above reflects the weighted average sales price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was affected.

2. This transaction was executed in multiple trades at prices ranging from $65.89 to $65.95. The price reported above reflects the weighted average sales price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was affected.

3. Grant has a graded vesting schedule. Date exercisable will vary for each vesting tranche.

Remarks:

	By Rena Miller as attorney in fact	02/09/2026
	** 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.

FAQ

What insider transactions did Zions Bancorporation (ZION) report for Steven Dan Stephens?

Zions Bancorporation reported that Executive Vice President Steven Dan Stephens exercised multiple stock options and sold common shares on 02/06/2026. The filing details several option exercises and same-day sales, all held directly, with 43,233 common shares owned afterward.

How many Zions Bancorporation (ZION) shares did Steven Dan Stephens sell?

Steven Dan Stephens sold common shares in several transactions on 02/06/2026, including 4,000 shares at a weighted average price of $65.91. Additional sales of 4,769 and 6,707 shares occurred at weighted average prices around $65.90 per share.

What stock options did Steven Dan Stephens exercise at Zions Bancorporation (ZION)?

On 02/06/2026, Stephens exercised stock options for 2,106 and 4,769 shares at an exercise price of $51.17, and 6,707 shares at $45.65. These options relate to common stock grants with graded vesting schedules and specified expiration dates.

How many Zions Bancorporation (ZION) shares does Steven Dan Stephens own after these trades?

After the reported transactions on 02/06/2026, Steven Dan Stephens directly owned 43,233 shares of Zions Bancorporation common stock. This figure reflects the combination of his option exercises and subsequent sales disclosed in the Form 4 filing.

What prices were reported for Steven Dan Stephens’s Zions Bancorporation (ZION) stock sales?

The filing shows weighted average sale prices around $65.90 per share. One transaction for 4,000 shares used $65.91, while other sales of 4,769 and 6,707 shares used weighted average prices of about $65.90, based on multiple trades within narrow price ranges.

What do the footnotes in Steven Dan Stephens’s Zions Bancorporation (ZION) Form 4 explain?

The footnotes explain that certain sales were executed in multiple trades within price ranges around $65.88–$65.95, with reported figures as weighted averages. They also note that the option grants have graded vesting schedules, so the dates when individual tranches become exercisable vary.