Western Alliance (NYSE: WAL) CLO exercises 168 cash-settled RSUs

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Western Alliance Bancorporation chief legal officer and secretary Jessica H. Jarvi reported compensation-related transactions involving cash-settled restricted stock units tied to the company’s common stock. On June 15, 2026, she exercised 168 cash-settled units, each economically equivalent to one WAL share, and an equal 168 common shares were disposed to the issuer at $81.81 per share, resulting in no net change in her direct share count. After these entries, she holds 13,707 shares of common stock directly and 2,074 shares indirectly through a WAL 401(k) plan as of June 11, 2026.

Insider Trade Summary

168 shares exercised/converted

Mixed 10 txns

Insider Jarvi Jessica H

Role CLO & Secretary

Type	Security	Shares	Price	Value
Exercise	Cash Settled Restricted Stock Units	58	$0.00	--
Exercise	Cash Settled Restricted Stock Units	46	$0.00	--
Exercise	Cash Settled Restricted Stock Units	64	$0.00	--
Exercise	Common Stock	58	$0.00	--
Disposition	Common Stock	58	$81.81	$5K
Exercise	Common Stock	46	$0.00	--
Disposition	Common Stock	46	$81.81	$4K
Exercise	Common Stock	64	$0.00	--
Disposition	Common Stock	64	$81.81	$5K
holding	Common Stock	--	--	--

Holdings After Transaction: Cash Settled Restricted Stock Units — 447 shares (Direct, null); Common Stock — 13,765 shares (Direct, null); Common Stock — 2,074 shares (Indirect, WAL 401(k))

Footnotes (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. Each unit is the economic equivalent of one share of Western Alliance Bancorporation common stock. 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. 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. Reflects shares held in the 401K Plan to include employer match as of 6/11/2026.

Key Figures

RSUs exercised: 168 units Shares disposed to issuer: 168 shares Disposition price: $81.81 per share +5 more

8 metrics

RSUs exercised 168 units Cash-settled restricted stock units exercised on June 15, 2026

Shares disposed to issuer 168 shares Common shares returned to issuer at $81.81 on June 15, 2026

Disposition price $81.81 per share Price for 64, 46, and 58-share dispositions to issuer

Direct holdings after transactions 13,707 shares Western Alliance common stock held directly by Jessica H. Jarvi

Indirect 401(k) holdings 2,074 shares Shares held in WAL 401(k) plan including employer match as of June 11, 2026

Remaining RSUs (grant 1) 2,049 units Cash-settled RSUs vesting monthly from March 2024 to February 2027

Remaining RSUs (grant 2) 919 units Cash-settled RSUs vesting monthly from March 2025 to February 2028

Remaining RSUs (grant 3) 447 units Cash-settled RSUs vesting monthly from March 2026 to February 2029

Key Terms

Cash Settled Restricted Stock Units, Disposition to issuer, economic equivalent, 401K Plan, +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"

economic equivalent financial

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

401K Plan financial

"Reflects shares held in the 401K Plan to include employer match as of 6/11/2026."

A 401(k) plan is an employer-sponsored retirement savings account that lets workers set aside part of their paycheck into investments, often with tax breaks and sometimes with matching contributions from the employer. Think of it as a workplace piggy bank that grows through employee contributions, optional company top-ups, and market returns; it matters to investors because it shapes household retirement security, drives large flows of money into public markets, and affects a company’s compensation costs and ability to attract and keep talent.

vesting 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."

Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 06/17/2026 - 05:19 PM Accepted by SEC EDGAR 06/17/2026 - 05:18 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^*

Jarvi Jessica H

(Last)

(First)

(Middle)

1 E. WASHINGTON STREET

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)
	CLO & Secretary

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/15/2026

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	06/15/2026		M		58⁽¹⁾	A	$0⁽²⁾	13,765	D
Common Stock	06/15/2026		D		58	D	$81.81	13,707	D
Common Stock	06/15/2026		M		46⁽³⁾	A	$0⁽²⁾	13,753	D
Common Stock	06/15/2026		D		46	D	$81.81	13,707	D
Common Stock	06/15/2026		M		64⁽⁴⁾	A	$0⁽²⁾	13,771	D
Common Stock	06/15/2026		D		64	D	$81.81	13,707	D
Common Stock								2,074⁽⁵⁾	I	WAL 401(k)

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⁾	06/15/2026		M			58	⁽¹⁾	⁽¹⁾	Common Stock	58	⁽²⁾	447	D
Cash Settled Restricted Stock Units	⁽²⁾	06/15/2026		M			46	⁽³⁾	⁽³⁾	Common Stock	46	⁽²⁾	919	D
Cash Settled Restricted Stock Units	⁽²⁾	06/15/2026		M			64	⁽⁴⁾	⁽⁴⁾	Common Stock	64	⁽²⁾	2,049	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.

5. Reflects shares held in the 401K Plan to include employer match as of 6/11/2026.

Remarks:

	Jessica H. Jarvi	06/17/2026
	** 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

FAQ

What insider transactions did WAL’s Jessica H. Jarvi report on this Form 4?

Jessica H. Jarvi reported exercising 168 cash-settled restricted stock units linked to Western Alliance Bancorporation common stock and an equal 168 common shares being disposed to the issuer at $81.81 per share, resulting in no net change to her direct share count.

How many Western Alliance (WAL) shares does Jessica H. Jarvi hold after the transactions?

After the reported transactions, Jessica H. Jarvi directly holds 13,707 Western Alliance Bancorporation common shares and indirectly holds 2,074 shares through a WAL 401(k) plan as of June 11, 2026, based on the Form 4 and its accompanying footnote.

What price was used for the WAL shares disposed to the issuer on this Form 4?

The Form 4 shows 168 Western Alliance Bancorporation common shares disposed to the issuer at a price of $81.81 per share, in three transactions of 64, 46, and 58 shares each, aligned with the exercise of cash-settled restricted stock units.

What are cash-settled restricted stock units reported for WAL’s Jessica H. Jarvi?

The cash-settled restricted stock units are compensation awards payable solely in cash, each economically equivalent to one Western Alliance Bancorporation common share, with vesting schedules that pay 1/36th monthly over 36 months beginning in March 2024, March 2025, and March 2026, respectively.

Does the WAL Form 4 show open-market buying or selling by Jessica H. Jarvi?

The Form 4 does not report open-market purchases or sales. It reflects exercises of cash-settled restricted stock units and corresponding dispositions of common shares to the issuer, which are compensation-related entries rather than market trades involving outside investors.

How many cash-settled RSUs remain for WAL’s Jessica H. Jarvi after these transactions?

After the reported exercises, the filing shows remaining cash-settled restricted stock unit balances of 2,049 units, 919 units, and 447 units, each economically equivalent to one Western Alliance Bancorporation common share, subject to their respective 36‑month monthly vesting schedules.