[Form 4] WESTERN ALLIANCE BANCORPORATION Insider Trading Activity

Rhea-AI Filing Summary

Western Alliance Bancorporation (WAL) reported insider transactions by its CBO for Regional Banking. On 11/15/2025, the officer converted cash-settled restricted stock units into 158 and 115 shares of common stock at an exercise price of $0, then sold the same numbers of shares at $78.17 per share. After these trades, the officer directly held 24,759 shares of Western Alliance common stock. The officer also continued to hold cash-settled restricted stock units, including 2,377 units tied to awards vesting from March 2024 through February 2027 and 3,103 units tied to awards vesting from March 2025 through February 2028.

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

OMB APPROVAL

OMB Number:			3235-0287
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hours per response:			0.5

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^*

Bruckner Tim R

(Last) (First) (Middle)

ONE E WASHINGTON ST., SUITE 1400

(Street)

PHOENIX AZ 85004

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
WESTERN ALLIANCE BANCORPORATION [ WAL ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	CBO for Regional Banking

3. Date of Earliest Transaction (Month/Day/Year)
11/15/2025

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	11/15/2025		M		158(1)	A	$0(2)	24,917	D
Common Stock	11/15/2025		D		158	D	$78.17	24,759	D
Common Stock	11/15/2025		M		115(3)	A	$0(2)	24,874	D
Common Stock	11/15/2025		D		115	D	$78.17	24,759	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
Cash Settled Restricted Stock Units	(2)	11/15/2025		M			158	(1)	(1)	Common Stock	158	(2)	2,377	D
Cash Settled Restricted Stock Units	(2)	11/15/2025		M			115	(3)	(3)	Common Stock	115	(2)	3,103	D

Explanation of Responses:

1. These units vest and are payable solely in cash as follows: 1/36th on the 15th day of each month during the 36-month period beginning March 2024 and ending February 2027.

2. Each unit is the economic equivalent of one share of Western Alliance Bancorporation common stock.

3. These units vest and are payable solely in cash as follows: 1/36th on the 15th day of each month during the 36-month period beginning March 2025 and ending February 2028.

Remarks:

	/s/Jessica Jarvi (Attorney-in-fact)	11/18/2025
	** 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 transaction did WAL report on this Form 4?

The CBO for Regional Banking at Western Alliance Bancorporation (WAL) reported converting cash-settled restricted stock units into 158 and 115 common shares on 11/15/2025 and selling those shares at $78.17 per share.

How many WAL shares does the reporting person own after the transaction?

Following the reported transactions, the officer directly owned 24,759 shares of Western Alliance Bancorporation common stock.

What restricted stock units are involved in this WAL Form 4?

The filing shows cash-settled restricted stock units where each unit is economically equivalent to one share of Western Alliance Bancorporation common stock, including 2,377 units and 3,103 units remaining after the transactions.

How do the WAL restricted stock units vest and pay out?

One RSU award vests and is payable solely in cash in 1/36th installments each month from March 2024 through February 2027, and another vests in 1/36th installments from March 2025 through February 2028.

At what price were the WAL shares sold in this insider trade?

The reported sales of Western Alliance Bancorporation common stock occurred at a price of $78.17 per share.

Who signed the WAL Form 4 filing?

The Form 4 was signed by Jessica Jarvi as attorney-in-fact for the reporting person on 11/18/2025.