Western Alliance (NYSE: WAL) officer trade adjusts share and RSU stake

Rhea-AI Filing Summary

Western Alliance Bancorporation’s Chief Administration Officer Timothy W. Boothe reported multiple equity transactions dated January 15, 2026. He exercised cash-settled restricted stock units that are economically equivalent to common stock, converting 97 units and 69 units into common stock at an exercise price of $0 per unit. He then disposed of 97 shares and 69 shares of common stock in open market sales at $89.83 per share. Following these transactions, he directly held 63,202 shares of common stock and retained 1,264 and 1,724 cash-settled restricted stock units in separate awards. In addition, 325 shares of common stock were reported as indirectly owned through his spouse, Alvina Boothe. The footnotes state that the units vest and are payable solely in cash on a monthly schedule through February 2027 and February 2028, respectively.

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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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^*

Boothe Timothy W

(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)
	Chief Administration Officer

3. Date of Earliest Transaction (Month/Day/Year)
01/15/2026

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	01/15/2026		M		97(1)	A	$0(2)	63,299	D
Common Stock	01/15/2026		D		97	D	$89.83	63,202	D
Common Stock	01/15/2026		M		69(3)	A	$0(2)	63,271	D
Common Stock	01/15/2026		D		69	D	$89.83	63,202	D
Common Stock								325	I	Alvina Boothe (spouse)

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)	01/15/2026		M			97	(1)	(1)	Common Stock	97	(2)	1,264	D
Cash Settled Restricted Stock Units	(2)	01/15/2026		M			69	(3)	(3)	Common Stock	69	(2)	1,724	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)	01/20/2026
	** 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.

FAQ

What insider activity did WAL officer Timothy W. Boothe report on this Form 4?

Chief Administration Officer Timothy W. Boothe reported exercising cash-settled restricted stock units and selling shares of Western Alliance Bancorporation common stock on January 15, 2026.

How many Western Alliance (WAL) shares did Timothy Boothe sell and at what price?

He reported disposing of 97 shares and 69 shares of common stock in separate transactions, each at a price of $89.83 per share.

What cash-settled restricted stock units did Timothy Boothe exercise in this WAL Form 4?

He exercised 97 and 69 cash-settled restricted stock units, each unit being the economic equivalent of one share of Western Alliance Bancorporation common stock, at an exercise price of $0 per unit.

What are Timothy Boothe’s remaining WAL holdings after these transactions?

After the reported trades, he directly held 63,202 shares of common stock, plus 1,264 and 1,724 remaining cash-settled restricted stock units from two awards, and 325 shares were reported as indirectly owned through his spouse.

How do the cash-settled restricted stock units for WAL vest and settle?

For one grant, units vest and are payable solely in cash, 1/36th each month from March 2024 through February 2027. For the other, units vest and are payable solely in cash, 1/36th each month from March 2025 through February 2028.

What does it mean that Timothy Boothe reports indirect ownership of WAL shares?

The Form 4 lists 325 shares of Western Alliance Bancorporation common stock as held indirectly through his spouse, identified as Alvina Boothe, indicating those shares are attributed to him via spousal ownership.