Western Alliance CFO sells 123 shares at $79.03

Rhea-AI Filing Summary

WESTERN ALLIANCE BANCORPORATION (WAL) reported that its Chief Financial Officer, Vishal Idnani, on September 15, 2026 exercised cash-settled restricted stock units that are economically equivalent to 123 shares of common stock, received 123 shares of common stock at $0.00 per share, and on the same day disposed of 123 shares of common stock back to the issuer at $79.03 per share. The cash-settled restricted stock units vest monthly over a 36‑month period beginning in March 2026, and after this transaction 3,551 such units remained credited to the CFO’s account. No transactions are reported as made under a Rule 10b5‑1 trading plan.

Insider Trade Summary

123 shares exercised/converted

Exercise 3 txns

Insider Idnani Vishal

Role Chief Financial Officer

Type	Security	Shares	Price	Value
Exercise	Cash Settled Restricted Stock Units F2, F1	123	--	--
Exercise	Common Stock F1, F2	123	$0.00	$0.00
Disposition	Common Stock	123	$79.03	$10K

Holdings After Transaction: Cash Settled Restricted Stock Units — 3,551 contracts (Direct); Common Stock — 11,468 shares (Direct)

Footnotes (2)

1. F1. 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.
2. F2. Each unit is the economic equivalent of one share of Western Alliance Bancorporation common stock.

Key Figures

Shares acquired from unit exercise: 123 shares Shares disposed to issuer: 123 shares Disposition price per share: $79.03 per share +3 more

6 metrics

Shares acquired from unit exercise 123 shares Common stock received upon exercise of cash-settled restricted stock units on September 15, 2026

Shares disposed to issuer 123 shares Common stock returned to Western Alliance Bancorporation on September 15, 2026

Disposition price per share $79.03 per share Price received for 123 shares of common stock disposed to issuer

Units remaining after transaction 3,551 units Cash-settled restricted stock units economically equivalent to common shares remaining after September 15, 2026

Vesting fraction per month 1/36 of award Portion of cash-settled restricted stock units vesting each month from March 2026 to February 2029

Vesting period length 36 months Monthly vesting schedule beginning March 2026 and ending February 2029

Key Terms

Cash Settled Restricted Stock Units, economic equivalent, disposition to issuer

3 terms

Cash Settled Restricted Stock Units financial

"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."

Cash-settled restricted stock units are employee compensation promises that mirror the value of company shares but pay out in cash instead of delivering actual stock once the units vest. Think of them as a future paycheck tied to the company’s share price that is paid after time or performance conditions are met. Investors watch them because they create future cash obligations for the company and avoid share dilution, both of which can affect earnings, cash flow and per-share metrics.

economic equivalent financial

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

disposition to issuer financial

"Common stock was disposed of to Western Alliance Bancorporation at $79.03 per share."

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transactions did WAL’s Chief Financial Officer report on September 15, 2026?

The Chief Financial Officer exercised cash-settled restricted stock units into 123 shares of common stock at $0.00 per share and on the same day disposed of 123 shares of common stock back to Western Alliance Bancorporation at $79.03 per share.

How many cash-settled restricted stock units tied to WAL stock remain after this Form 4?

After the reported September 15, 2026 transaction, 3,551 cash-settled restricted stock units, each economically equivalent to one share of Western Alliance Bancorporation common stock, remained credited to the Chief Financial Officer’s account.

What is the vesting schedule for the WAL cash-settled restricted stock units reported?

The cash-settled restricted stock units vest and are payable solely in cash, with 1/36 of the award vesting on the 15th day of each month during the 36‑month period beginning in March 2026 and ending in February 2029.

Were the WAL insider transactions made under a Rule 10b5-1 trading plan?

No. The filing indicates that the September 15, 2026 transactions by the Chief Financial Officer were not made pursuant to a Rule 10b5‑1 trading plan.

What price was received for the WAL shares disposed of to the issuer?

The Chief Financial Officer disposed of 123 shares of Western Alliance Bancorporation common stock to the issuer at a price of $79.03 per share on September 15, 2026.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 09/17/2026 - 05:02 PM Accepted by SEC EDGAR 09/17/2026 - 05:01 PM Learn about SEC filing dates

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
Estimated average burden
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^*

Idnani Vishal

(Last) (First) (Middle)

C/O WESTERN ALLIANCE BANCORPORATION

1 E. WASHINGTON ST., SUITE 1400

(Street)

PHOENIX ARIZONA 85004

(City) (State) (Zip)

UNITED STATES

(Country)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
09/15/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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	09/15/2026		M		123(1)	A	$0(2)	11,591	D
Common Stock	09/15/2026		D		123	D	$79.03	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	(2)	09/15/2026		M			123	(1)	(1)	Common Stock	123	(2)	3,551	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 2026 and ending February 2029.

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

Remarks:

	/s/Jessica Jarvi (Attorney-in-fact)	09/17/2026
	** 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).
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.
* Form 4: SEC 1474 (03-26)