[Form 4] WESTERN ALLIANCE BANCORPORATION Insider Trading Activity

Western Alliance Bancorporation reported insider activity by its Chief Banking Officer-NBL involving company common stock and cash-settled restricted stock units dated 12/15/2025.

Rhea-AI Filing Summary

Western Alliance Bancorporation reported insider activity by its Chief Banking Officer-NBL involving company common stock and cash-settled restricted stock units dated 12/15/2025.

On that date, 165 and 129 cash-settled restricted stock units, each economically equivalent to one share of Western Alliance Bancorporation common stock, were exercised at $0 and matched by dispositions of 165 and 129 common shares at $86.18 per share. Following these transactions, the officer directly beneficially owned 37,739 shares of common stock, and continued to hold 2,324 and 3,345 cash-settled restricted stock units from grants that vest monthly from March 2024 through February 2027 and from March 2025 through February 2028.

Insider Trade Summary

294 shares exercised/converted

Exercise 6 txns

Insider Curley Stephen Russell

Role Chief Banking Ofc.-NBL

Type	Security	Shares	Price	Value
Exercise	Cash Settled Restricted Stock Units	165	$0.00	$0.00
Exercise	Cash Settled Restricted Stock Units	129	$0.00	$0.00
Exercise	Common Stock	165	$0.00	$0.00
Disposition	Common Stock	165	$86.18	$14K
Exercise	Common Stock	129	$0.00	$0.00
Disposition	Common Stock	129	$86.18	$11K

Holdings After Transaction: Cash Settled Restricted Stock Units — 5,669 contracts (Direct); Common Stock — 37,739 shares (Direct)

Footnotes (3)

1. 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.
2. F2. Each unit is the economic equivalent of one share of Western Alliance Bancorporation common stock.
3. 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.

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Accepted by SEC EDGAR 12/16/2025 - 04:13 PM Learn about SEC filing dates

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^*

Curley Stephen Russell

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Banking Ofc.-NBL

3. Date of Earliest Transaction (Month/Day/Year)
12/15/2025

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	12/15/2025		M		165(1)	A	$0(2)	37,904	D
Common Stock	12/15/2025		D		165	D	$86.18	37,739	D
Common Stock	12/15/2025		M		129(3)	A	$0(2)	37,868	D
Common Stock	12/15/2025		D		129	D	$86.18	37,739	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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Cash Settled Restricted Stock Units	(2)	12/15/2025		M			165	(1)	(1)	Common Stock	165	(2)	2,324	D
Cash Settled Restricted Stock Units	(2)	12/15/2025		M			129	(3)	(3)	Common Stock	129	(2)	3,345	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)	12/16/2025
	** 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.