Western Alliance (WAL) CEO reports Form 4 insider stock moves

Rhea-AI Filing Summary

Western Alliance Bancorporation insider activity shows its President and CEO, who is also a director, reporting multiple transactions in common stock and cash-settled restricted stock units on 11/15/2025. He exercised derivative awards coded as transaction type “M” for 539 and 437 cash-settled restricted stock units, each unit being the economic equivalent of one share of common stock and payable solely in cash. On the same date, he disposed of 539 and 437 shares of common stock at a price of $78.17 per share. Following these transactions, he directly owned 447,611 shares of common stock, with additional indirect holdings of 1,950 shares in a 401(k) plan and 750 shares held for a family member under UTMA.

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

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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^*

Vecchione Kenneth

(Last) (First) (Middle)

C/O WESTERN ALLIANCE BANCORPORATION

ONE E. WASHINGTON STREET, STE 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)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	President and CEO

3. Date of Earliest Transaction (Month/Day/Year)
11/15/2025

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	11/15/2025		M		539(1)	A	$0(2)	448,150	D
Common Stock	11/15/2025		D		539	D	$78.17	447,611	D
Common Stock	11/15/2025		M		437(3)	A	$0(2)	448,048	D
Common Stock	11/15/2025		D		437	D	$78.17	447,611	D
Common Stock								1,950(4)	I	401K Plan
Common Stock								750	I	Darcy Vecchione UTMA (daughter)

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)	11/15/2025		M			539	(1)	(1)	Common Stock	539	(2)	8,097	D
Cash Settled Restricted Stock Units	(2)	11/15/2025		M			437	(3)	(3)	Common Stock	437	(2)	11,793	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. Reflects shares held in the 401K Plan to include employer match as of 11/13/2025.

Remarks:

	/s/Jessica Jarvi (Attorney-in-fact)	11/18/2025
	** 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 transaction did WAL's CEO report on this Form 4?

The President and CEO of Western Alliance Bancorporation (WAL), who is also a director, reported exercising cash-settled restricted stock units and selling common stock on 11/15/2025. The filing lists both the derivative unit activity and the related common stock dispositions.

How many Western Alliance (WAL) shares did the CEO sell on 11/15/2025?

On 11/15/2025, the CEO disposed of 539 shares of common stock and another 437 shares of common stock, each sale reported at a price of $78.17 per share.

What derivative securities are disclosed in this WAL Form 4 filing?

The filing discloses cash-settled restricted stock units. One award relates to 539 units and another to 437 units, with each unit described as the economic equivalent of one share of Western Alliance Bancorporation common stock and payable solely in cash.

How do the WAL cash-settled restricted stock units vest and pay out?

One set of units vests and is payable solely in cash at 1/36th each month from March 2024 through February 2027. The other vests and is payable solely in cash at 1/36th each month from March 2025 through February 2028.

How many WAL shares does the CEO own after the reported transactions?

After the reported activity, the CEO held 447,611 shares of Western Alliance Bancorporation common stock directly. He also had indirect holdings of 1,950 shares in a 401(k) plan and 750 shares held in the name of a family member under UTMA.

What is the economic relationship between the WAL units and common stock?

Each cash-settled restricted stock unit is stated to be the economic equivalent of one share of Western Alliance Bancorporation common stock, but the units are payable solely in cash rather than in shares.