Western Alliance’s Emily Nachlas converts stock awards

Q: How many WAL shares did Chief Risk Officer Emily Nachlas return to the issuer?

She returned 72, 53 and 64 shares in three transactions on October 15, 2026, each at $74.35 per share.

Q: What was the vesting schedule for Emily Nachlas's WAL units?

The units vested 1/36th on the 15th of each month. The three schedules ran from March 2024 through February 2027, March 2025 through February 2028, and March 2026 through February 2029.

The three unit schedules began in March 2024, March 2025 and March 2026, with monthly vesting through their respective end dates.

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Form Type

Rhea-AI Filing Summary

Western Alliance Bancorporation (WAL) Chief Risk Officer Emily Nachlas reported transactions involving cash-settled restricted stock units on October 15, 2026. She reported conversions of 72, 53 and 64 units; each lot had an equal number of common shares acquired at $0.00 per share and returned to the issuer at $74.35 per share. The units were payable solely in cash and vested in monthly installments under schedules ending February 2027, February 2028 and February 2029.

Insider Trade Summary

189 shares exercised/converted

Exercise 9 txns

Insider Nachlas Emily

Role Chief Risk Officer

Type	Security	Shares	Price	Value
Exercise	Cash Settled Restricted Stock Units ^{F2, F1}	72	--	--
Exercise	Cash Settled Restricted Stock Units ^{F2, F3}	53	--	--
Exercise	Cash Settled Restricted Stock Units ^{F2, F4}	64	--	--
Exercise	Common Stock ^{F1, F2}	72	$0.00	$0.00
Disposition	Common Stock	72	$74.35	$5K
Exercise	Common Stock ^{F3, F2}	53	$0.00	$0.00
Disposition	Common Stock	53	$74.35	$4K
Exercise	Common Stock ^{F4, F2}	64	$0.00	$0.00
Disposition	Common Stock	64	$74.35	$5K

Holdings After Transaction: Cash Settled Restricted Stock Units — 2,921 contracts (Direct); Common Stock — 16,575 shares (Direct)

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

Cash-settled restricted stock units, first lot: 72 units Cash-settled restricted stock units, second lot: 53 units Cash-settled restricted stock units, third lot: 64 units +2 more

5 metrics

Cash-settled restricted stock units, first lot 72 units Reported October 15, 2026

Cash-settled restricted stock units, second lot 53 units Reported October 15, 2026

Cash-settled restricted stock units, third lot 64 units Reported October 15, 2026

Common shares returned to issuer $74.35 per share Transactions reported October 15, 2026

Common shares acquired $0.00 per share Transactions reported October 15, 2026

Key Terms

Cash Settled Restricted Stock Units, economic equivalent, 1/36th

3 terms

Cash Settled Restricted Stock Units financial

"These units vest and are payable solely in cash"

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"

1/36th financial

"1/36th on the 15th day of each month"

FAQ

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

How many WAL shares did Chief Risk Officer Emily Nachlas return to the issuer?

She returned 72, 53 and 64 shares in three transactions on October 15, 2026, each at $74.35 per share.

What was the vesting schedule for Emily Nachlas's WAL units?

The units vested 1/36th on the 15th of each month. The three schedules ran from March 2024 through February 2027, March 2025 through February 2028, and March 2026 through February 2029.

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

Form 4 Insider Transactions: What Each Field Means →

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Available on EDGAR 10/19/2026 - 04:31 PM EDT Accepted by SEC EDGAR 10/19/2026 - 04:30 PM EDT

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^*

Nachlas Emily

(Last)

(First)

(Middle)

C/O WESTERN ALLIANCE BANCORPORATION

ONE E. WASHINGTON STREET, STE 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 Risk Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
10/15/2026

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	10/15/2026		M		72⁽¹⁾	A	$0⁽²⁾	16,647	D
Common Stock	10/15/2026		D		72	D	$74.35	16,575	D
Common Stock	10/15/2026		M		53⁽³⁾	A	$0⁽²⁾	16,628	D
Common Stock	10/15/2026		D		53	D	$74.35	16,575	D
Common Stock	10/15/2026		M		64⁽⁴⁾	A	$0⁽²⁾	16,639	D
Common Stock	10/15/2026		D		64	D	$74.35	16,575	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)
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⁾	10/15/2026		M			72	⁽¹⁾	⁽¹⁾	Common Stock	72	⁽²⁾	285	D
Cash Settled Restricted Stock Units	⁽²⁾	10/15/2026		M			53	⁽³⁾	⁽³⁾	Common Stock	53	⁽²⁾	843	D
Cash Settled Restricted Stock Units	⁽²⁾	10/15/2026		M			64	⁽⁴⁾	⁽⁴⁾	Common Stock	64	⁽²⁾	1,793	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)	10/19/2026
	** 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