WATERS JAMES L (General Counsel and Secretary) exercised options at KEYCORP /NEW/

Option exercise — a mechanical event triggered by vesting or expiry. Not a discretionary conviction trade.

M · 1 exercise

WATERS JAMES L

Filed: 2/18/2026ACC: 0001733701-26-000001

InsiderWATERS JAMES LCIK 1733701

→

IssuerKEYCORP /NEW/CIK 91576

Officer· General Counsel and Secretary

Since Jul 2021

+30.25K

Net shares

Net buyer

$160.3K

Total sold

Open market trades

0B · 0S

Total transactions

61.84K acquired · 31.59K disposed

Non-Derivative Transactions2

Common Shares

Direct

M · Option Exercise

+24.20K

Price / share

—

Trade value

—

% of position

35.4%

2/17/2026

68.40K→92.61K

Common Shares

Direct

F · Tax Withholding

−7.39K

Price / share

$21.69

Trade value

$160.29K

% of position

8.0%

2/17/2026

92.61K→85.22K

Total

Net shares

+16.82K

Net value

-$160.29K

Security	Date	Type	Shares	Price / Share	Trade Value	% of Position	Held Before	Held After
Common Shares Direct	2/17/2026	M · Option Exercise	+24.20K	—	—	35.4%	68.40K	92.61K
Common Shares Direct	2/17/2026	F · Tax Withholding	−7.39K	$21.69	$160.29K	8.0%	92.61K	85.22K
Total			+16.82K		-$160.29K

Derivative Transactions6

Restricted Stock Units

Direct

A · Award

Converts to

Common Shares

17.97K shares

+17.97K

Strike price

Held after

17.97K

Exercisable

—

2/16/2026

Option to Buy

Direct

A · Award

Converts to

Common Shares

19.67K shares

+19.67K

Strike price

23.87

Held after

19.67K

Exercisable

—

2/16/2026

Restricted Stock Units

Direct

M · Option Exercise

Converts to

Common Shares

3.57K shares

−3.57K

Strike price

Held after

0.00

Exercisable

—

2/17/2026

Restricted Stock Units

Direct

M · Option Exercise

Converts to

Common Shares

6.03K shares

−6.03K

Strike price

Held after

6.03K

Exercisable

—

2/17/2026

Restricted Stock Units

Direct

M · Option Exercise

Converts to

Common Shares

8.84K shares

−8.84K

Strike price

Held after

17.67K

Exercisable

—

2/17/2026

Restricted Stock Units

Direct

M · Option Exercise

Converts to

Common Shares

5.77K shares

−5.77K

Strike price

Held after

17.30K

Exercisable

—

2/17/2026

Security	Converts To	Date	Type	Shares	Strike Price	Exercisable	Held After
Restricted Stock Units Direct	Common Shares17.97K shares	2/16/2026	A · Award	+17.97K		—	17.97K
Option to Buy Direct	Common Shares19.67K shares	2/16/2026	A · Award	+19.67K	23.87	—	19.67K
Restricted Stock Units Direct	Common Shares3.57K shares	2/17/2026	M · Option Exercise	−3.57K		—	0.00
Restricted Stock Units Direct	Common Shares6.03K shares	2/17/2026	M · Option Exercise	−6.03K		—	6.03K
Restricted Stock Units Direct	Common Shares8.84K shares	2/17/2026	M · Option Exercise	−8.84K		—	17.67K
Restricted Stock Units Direct	Common Shares5.77K shares	2/17/2026	M · Option Exercise	−5.77K		—	17.30K