Western Alliance HR chief settles 257 share units

Q: What price was used for Barbara Kennedy’s dispositions of WAL common stock?

The filing shows that 257 shares of Western Alliance common stock were disposed of back to the issuer at a price of $78.51 per share, coded as a disposition to the issuer rather than an open-market sale on an exchange.

Western Alliance Bancorporation Chief Human Resources Officer Barbara Kennedy reported routine compensation-related activity involving cash-settled restricted stock units that are each the economic equivalent of one share of common stock.

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Filing Sentiment

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Form Type

Rhea-AI Filing Summary

Western Alliance Bancorporation Chief Human Resources Officer Barbara Kennedy reported routine compensation-related activity involving cash-settled restricted stock units that are each the economic equivalent of one share of common stock. On April 15, 2026, she exercised units tied to 257 shares of common stock and recorded related dispositions back to the issuer at $78.51 per share.

Following these transactions, Kennedy held 10,332 shares of Western Alliance common stock directly and 22,797 shares indirectly through the Kennedy Family Trust. Footnotes state that the units vest and are payable solely in cash in equal monthly installments over 36-month periods beginning in March 2024, March 2025, and March 2026.

Insider Trade Summary

257 shares exercised/converted

Exercise 10 txns

Insider Kennedy Barbara

Role Chief Human Resources Officer

Type	Security	Shares	Price	Value
Exercise	Cash Settled Restricted Stock Units	101	$0.00	$0.00
Exercise	Cash Settled Restricted Stock Units	74	$0.00	$0.00
Exercise	Cash Settled Restricted Stock Units	82	$0.00	$0.00
Exercise	Common Stock	101	$0.00	$0.00
Disposition	Common Stock	101	$78.51	$8K
Exercise	Common Stock	74	$0.00	$0.00
Disposition	Common Stock	74	$78.51	$6K
Exercise	Common Stock	82	$0.00	$0.00
Disposition	Common Stock	82	$78.51	$6K
holding	Common Stock	--	--	--

Holdings After Transaction: Cash Settled Restricted Stock Units — 5,410 contracts (Direct); Common Stock — 10,332 shares (Direct); Common Stock — 22,797 shares (Indirect, Barbara and Ted Kennedy TTEE Kennedy Family Trust)

Footnotes (4)

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 2024 and ending February 2027.
F2. Each unit is the economic equivalent of one share of Western Alliance Bancorporation common stock.
F3. 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.
F4. 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.

Key Figures

Derivative exercises: 257 shares equivalent Disposition price: $78.51 per share Direct holdings after: 10,332 shares +4 more

7 metrics

Derivative exercises 257 shares equivalent Cash Settled Restricted Stock Units exercised on April 15, 2026

Disposition price $78.51 per share Common stock disposed to issuer on April 15, 2026

Direct holdings after 10,332 shares Common stock held directly by Barbara Kennedy after transactions

Indirect holdings after 22,797 shares Common stock held indirectly via Kennedy Family Trust

Vesting period 1 36 months Cash-settled units vest monthly from March 2024 to February 2027

Vesting period 2 36 months Cash-settled units vest monthly from March 2025 to February 2028

Vesting period 3 36 months Cash-settled units vest monthly from March 2026 to February 2029

Key Terms

Cash Settled Restricted Stock Units, Disposition to issuer, economic equivalent of one share, vest and are payable solely in cash, +1 more

5 terms

Cash Settled Restricted Stock Units financial

"security_title: Cash Settled Restricted Stock Units"

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.

Disposition to issuer financial

"transaction_code_description: Disposition to issuer"

vest and are payable solely in cash financial

"These units vest and are payable solely in cash as follows: 1/36th on the 15th day of each month"

restricted stock units financial

"Cash Settled Restricted Stock Units"

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

FAQ

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

What insider activity did WAL’s Barbara Kennedy report on this Form 4?

Barbara Kennedy reported exercises of cash-settled restricted stock units equivalent to 257 shares of Western Alliance common stock and related dispositions of 257 shares back to the issuer at $78.51 per share, reflecting routine compensation settlement activity rather than open-market trading.

How many Western Alliance (WAL) shares does Barbara Kennedy hold after these transactions?

After the reported transactions, Barbara Kennedy directly holds 10,332 shares of Western Alliance common stock and indirectly holds 22,797 shares through the Kennedy Family Trust, according to the filing’s ownership entries and holding line for indirect ownership.

What price was used for Barbara Kennedy’s dispositions of WAL common stock?

The filing shows that 257 shares of Western Alliance common stock were disposed of back to the issuer at a price of $78.51 per share, coded as a disposition to the issuer rather than an open-market sale on an exchange.

How do Barbara Kennedy’s WAL cash-settled restricted stock units work?

Each cash-settled restricted stock unit is described as the economic equivalent of one share of Western Alliance common stock and vests in monthly installments, with units payable solely in cash over 36-month periods starting in March 2024, March 2025, and March 2026.

Were Barbara Kennedy’s WAL transactions open-market buys or sells?

No open-market buys or sells are reported. The Form 4 shows derivative exercises/conversions of cash-settled restricted stock units and dispositions to the issuer at $78.51 per share, indicating issuer-related settlement activity rather than trading on the open market.

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

Form 4 Insider Transactions: What Each Field Means →

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Accepted by SEC EDGAR 04/17/2026 - 05:05 PM

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^*

Kennedy Barbara

(Last)

(First)

(Middle)

ONE 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 Human Resources Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/15/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	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	04/15/2026		M		101⁽¹⁾	A	$0⁽²⁾	10,433	D
Common Stock	04/15/2026		D		101	D	$78.51	10,332	D
Common Stock	04/15/2026		M		74⁽³⁾	A	$0⁽²⁾	10,406	D
Common Stock	04/15/2026		D		74	D	$78.51	10,332	D
Common Stock	04/15/2026		M		82⁽⁴⁾	A	$0⁽²⁾	10,414	D
Common Stock	04/15/2026		D		82	D	$78.51	10,332	D
Common Stock								22,797	I	Barbara and Ted Kennedy TTEE Kennedy Family Trust

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Cash Settled Restricted Stock Units	⁽²⁾	04/15/2026		M			101	⁽¹⁾	⁽¹⁾	Common Stock	101	⁽²⁾	998	D
Cash Settled Restricted Stock Units	⁽²⁾	04/15/2026		M			74	⁽³⁾	⁽³⁾	Common Stock	74	⁽²⁾	1,613	D
Cash Settled Restricted Stock Units	⁽²⁾	04/15/2026		M			82	⁽⁴⁾	⁽⁴⁾	Common Stock	82	⁽²⁾	2,799	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.

4. 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)	04/17/2026
	** 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)

Source: View Original Filing on SEC EDGAR