KEYCORP NEW
For the period ended Sep 30, 2024. Filed Nov 6, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 6, 2024
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Unregistered Sales of Equity Securities and Use of Proceeds
From time to time, KeyCorp or its principal subsidiary, KeyBank, may seek to retire, repurchase, or exchange outstanding debt of KeyCorp or KeyBank, and capital securities or preferred stock of KeyCorp, through cash purchase, privately negotiated transactions, or otherwise. Such transactions, if any, depend on prevailing market conditions, our liquidity and capital requirements, contractual restrictions, and other factors. The amounts involved may be material.
We did not complete any open market share repurchases in the third quarter of 2024, and have no Board-approved repurchase authorizations outstanding.
During the third quarter of 2024, Key repurchased less than $1 million of shares related to equity compensation programs.
On August 30, 2024, KeyCorp issued 47,829,359 Common Shares for approximately $821 million in gross proceeds to Scotiabank pursuant to the first closing under the Investment Agreement, which was exempt from registration under the Securities Act of 1933, as amended, by virtue of the exemption provided by Section 4(a)(2) of the Securities Act.
The following table summarizes our repurchases of our Common Shares for the three months ended September 30, 2024. Refer to Note 19 (“Shareholders' Equity”) for more information regarding share repurchases made during the three and nine months ended September 30, 2024.
| Calendar month | Total number of sharespurchased (a) | Average price paidper share | Total number of shares purchased as part of publicly announced plans or programs | Dollar value of shares that may yet be purchased as part of publiclyannounced plans or programs |
|---|---|---|---|---|
| July 1 - 31 | 492 | $14.06 | — | — |
| August 1 - 31 | 6,711 | 17.04 | — | — |
| September 1 -30 | 577 | 16.50 | — | — |
| Total | 7,780 | $16.81 | — |
(a)Includes Common Shares deemed surrendered by employees in connection with our stock compensation and benefit plans to satisfy tax obligations. We did not complete any open market share repurchases in the third quarter of 2024.
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