Statement of Changes in Beneficial Ownership (4)

FORM 4 [ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response... 0.5
	Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940

1. Name and Address of Reporting Person ^* WILLIAMS SHELLEY THOMAS	2. Issuer Name and Ticker or Trading Symbol ZIONS BANCORPORATION /UT/ [ ZION ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) __ X __ Director _____ 10% Owner _____ Officer (give title below) _____ Other (specify below)
(Last) (First) (Middle) ONE SOUTH MAIN STREET, 15TH FLOOR	3. Date of Earliest Transaction (MM/DD/YYYY) 1/30/2017
(Street) SALT LAKE CITY, UT 84133-1109 (City) (State) (Zip)	4. If Amendment, Date Original Filed (MM/DD/YYYY)	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. Trans. Date	2A. Deemed Execution Date, if any	3. Trans. 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. Trans. Date	2A. Deemed Execution Date, if any	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)
Common Stock	1/30/2017		S		1000	D	$42.14	25127	D
Common Stock	1/30/2017		S		2400	D	$42	22727	D
Common Stock	1/30/2017		S		1100	D	$42.005	21627	D
Common Stock	1/30/2017		S		1017	D	$42.01	20610	D
Common Stock	1/30/2017		S		100	D	$42.011	20510	D
Common Stock	1/30/2017		S		400	D	$42.015	20110	D
Common Stock	1/30/2017		S		600	D	$42.02	19510	D
Common Stock	1/30/2017		S		400	D	$42.025	19110	D
Common Stock	1/30/2017		S		1010	D	$42.03	18100	D
Common Stock	1/30/2017		S		100	D	$42.035	18000	D
Common Stock	1/30/2017		S		290	D	$42.01	17710	D
Common Stock	1/30/2017		S		1000	D	$42.015	16710	D
Common Stock	1/30/2017		S		3110	D	$42.02	13600	D
Common Stock	1/30/2017		S		100	D	$42.025	13500	D
Common Stock	1/30/2017		S		100	D	$42.03	13400	D
Common Stock	1/30/2017		S		1000	D	$42.05	12400	D
Common Stock	1/30/2017		S		600	D	$42.055	11800	D
Common Stock	1/30/2017		S		1700	D	$42.06	10100	D
Common Stock	1/30/2017		S		500	D	$42.065	9600	D
Common Stock	1/30/2017		S		100	D	$42.075	9500	D
Common Stock	1/30/2017		S		2200	D	$42.08	7300	D
Common Stock	1/30/2017		S		300	D	$42.085	7000	D
Common Stock	1/30/2017		S		3200	D	$42.09	3800	D
Common Stock	1/30/2017		S		600	D	$42.091	3200	D
Common Stock	1/30/2017		S		2600	D	$42.095	600	D
Common Stock	1/30/2017		S		600	D	$42.10	0	D

*Table II - Derivative Securities Beneficially Owned ( e.g.* , puts, calls, warrants, options, convertible securities)**
1. Title of Derivate Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Trans. Date	3A. Deemed Execution Date, if any	4. Trans. 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		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 of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivate Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Trans. Date	3A. Deemed Execution Date, if any	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)			11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

Reporting Owners
Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
WILLIAMS SHELLEY THOMAS ONE SOUTH MAIN STREET, 15TH FLOOR SALT LAKE CITY, UT 84133-1109	X

Signatures
By Thomas E. Laursen as attorney in fact		2/1/2017
^** 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.
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