WAL (NYSE: WAL) CFO receives 2,942 shares and 4,412 cash-settled RSUs

Rhea-AI Filing Summary

Western Alliance Bancorporation’s Chief Financial Officer, Vishal Idnani, reported equity-related compensation granted on February 5, 2026. He acquired 2,942 shares of common stock at $0 per share, bringing his directly held common stock to 11,468 shares after the transaction.

He was also granted 4,412 cash-settled restricted stock units, each economically equivalent to one share of common stock but payable solely in cash. These units vest in equal monthly installments, with 1/36th vesting on the 15th of each month from March 2026 through February 2029.

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

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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^*

Idnani Vishal

(Last) (First) (Middle)

C/O WESTERN ALLIANCE BANCORPORATION

1 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)
	Chief Financial Officer

3. Date of Earliest Transaction (Month/Day/Year)
02/05/2026

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	02/05/2026		A		2,942	A	$0	11,468	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	(1)	02/05/2026		A		4,412		(2)	(2)	Common Stock	4,412	(1)	4,412	D

Explanation of Responses:

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

2. 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 2026 and ending February 2029.

Remarks:

	/s/Jessica Jarvi (Attorney-in-fact)	02/09/2026
	** 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).
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FAQ

What insider transactions did WAL CFO Vishal Idnani report on February 5, 2026?

Vishal Idnani reported receiving 2,942 shares of Western Alliance Bancorporation common stock at $0 per share and 4,412 cash-settled restricted stock units. These awards represent equity-linked compensation rather than open-market purchases or sales, as disclosed in the Form 4 filing.

How many Western Alliance (WAL) shares does the CFO own after this Form 4?

After the reported transaction, the CFO directly holds 11,468 shares of Western Alliance Bancorporation common stock. In addition, he holds 4,412 cash-settled restricted stock units, which are economically equivalent to common shares but will be settled in cash rather than stock upon vesting.

What are the terms of the 4,412 cash-settled RSUs reported by WAL’s CFO?

The 4,412 cash-settled restricted stock units are each economically equivalent to one share of Western Alliance Bancorporation common stock. They vest and are payable solely in cash, with 1/36th of the units vesting monthly from March 2026 through February 2029 on the 15th day.

Were the Western Alliance (WAL) equity awards to the CFO purchased on the market?

No, the awards were not market purchases. The Form 4 shows transaction code “A” and a price of $0 per share, indicating equity compensation grants of 2,942 common shares and 4,412 cash-settled restricted stock units to the CFO, rather than open-market transactions.

Does the WAL CFO’s Form 4 include derivative securities?

Yes. The filing reports 4,412 cash-settled restricted stock units as derivative securities. Each unit is economically equivalent to one share of Western Alliance Bancorporation common stock, with vesting in 36 equal monthly installments, and will be settled in cash upon vesting rather than in stock.