KeyBank 2013 Annual Report Download - page 85

Figure 45 in the section entitled “Fourth Quarter Results” shows the market price ranges of our common shares,
per common share earnings, and dividends paid by quarter for each of the last two years.
Figure 27 compares the price performance of our common shares (based on an initial investment of $100 on
December 31, 2008, and assuming reinvestment of dividends) with that of the Standard & Poor’s 500 Index and a
group of other banks that constitute our peer group. The peer group consists of the banks that make up the
Standard & Poor’s 500 Regional Bank Index and the banks that make up the Standard & Poor’s 500 Diversified
Bank Index. We are included in the Standard & Poor’s 500 Index and the peer group.
Figure 27. Common Share Price Performance (2009 – 2013) (a)
(a) Share price performance is not necessarily indicative of future price performance.
Figure 28 shows activities that caused the change in our outstanding common shares over the past two years.
Figure 28. Changes in Common Shares Outstanding
2013 Quarters
in thousands 2013 Fourth Third Second First 2012
Shares outstanding at beginning of period 925,769 897,821 912,883 922,581 925,769 953,008
Common shares issued (repurchased) (41,599) (7,659) (16,364) (10,786) (6,790) (30,637)
Shares reissued (returned) under employee benefit plans 6,554 562 1,302 1,088 3,602 3,398
Shares outstanding at end of period 890,724 890,724 897,821 912,883 922,581 925,769
At December 31, 2013, we had 126.2 million treasury shares, compared to 91.2 million treasury shares at
December 31, 2012. During 2013, common shares outstanding decreased by 35 million shares from share
repurchases under our 2012 and 2013 capital plans and the net activity in our employee benefit plans. Going
forward, we expect to reissue treasury shares as needed in connection with stock-based compensation awards and
for other corporate purposes.
As discussed in further detail in the “Supervision and Regulation” section in Item 1 of this report, we are required
to annually submit a capital plan to the Federal Reserve setting forth planned capital actions, including any share
repurchases our Board of Directors and management intend to make during the year (subject to the Federal
Reserve’s notice of non-objection). Pursuant to that requirement, we have submitted to the Federal Reserve for
review our 2014 capital plan.
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