[Form 4] WESTERN ALLIANCE BANCORPORATION Insider Trading Activity

Rhea-AI Filing Summary

Stephen Russell Curley, Chief Banking Officer - NBL at Western Alliance Bancorporation (WAL), reported transactions dated 09/15/2025 on Form 4. The filing shows non-derivative and derivative activity tied to cash-settled restricted stock units. Following the reported trades, Mr. Curley directly beneficially owned 37,739 shares of common stock. The Form 4 records acquisitions (code M) of awards that vest monthly and dispositions (code D) executed at $89.05 per share. The derivative section lists cash-settled restricted stock units with 2,819 and 3,732 units reported following the transactions. The filing includes vesting schedules stating units vest and are payable solely in cash on a monthly 1/36th basis over defined 36-month periods beginning March 2024 and March 2025 respectively.

Insights

Securities Compliance Analyst

TL;DR: Routine insider vesting and sale activity recorded; transactions are cash-settled RSU vesting and an offsetting sale at a stated price.

The Form 4 documents standard Section 16 reporting for a named officer showing both M-coded acquisitions related to cash-settled restricted stock units and D-coded dispositions executed at $89.05 per share on 09/15/2025. The disclosure includes the resulting direct beneficial ownership of 37,739 common shares and specific post-transaction counts of RSU equivalents (2,819 and 3,732). Vesting schedules are explicitly stated as monthly 1/36th installments over two 36-month periods beginning March 2024 and March 2025. The filing is signed by an attorney-in-fact on behalf of the reporting person.

Corporate Governance Expert

TL;DR: Disclosure is complete for the reported transactions and vesting terms; this appears to be routine insider compensation monetization and reporting.

The document provides clear identification of the reporting person, relationship to the issuer (Chief Banking Officer - NBL), and the mechanics of awards: cash-settled RSUs that vest monthly with equivalent share economics. The Form 4 shows both the grant/vesting entries (code M) and matching sales (code D) at the disclosed price, with post-transaction ownership figures presented. All vesting timing details provided in the explanation section are explicit and tied to specific 36-month schedules.

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)
09/15/2025

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	09/15/2025		M		165(1)	A	$0(2)	37,904	D
Common Stock	09/15/2025		D		165	D	$89.05	37,739	D
Common Stock	09/15/2025		M		129(3)	A	$0(2)	37,868	D
Common Stock	09/15/2025		D		129	D	$89.05	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)	09/15/2025		M			165	(1)	(1)	Common Stock	165	(2)	2,819	D
Cash Settled Restricted Stock Units	(2)	09/15/2025		M			129	(3)	(3)	Common Stock	129	(2)	3,732	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)	09/17/2025
	** 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 transactions did Stephen Russell Curley report on the WAL Form 4?

The Form 4 reports acquisitions (code M) of cash-settled restricted stock units and dispositions (code D) of common stock executed on 09/15/2025 at $89.05 per share.

How many shares does the reporting person beneficially own after the reported transactions?

The filing shows the reporting person directly beneficially owned 37,739 shares of Western Alliance Bancorporation common stock following the reported transactions.

What derivative awards are disclosed and how many units remain?

The Form 4 discloses cash-settled restricted stock units with 2,819 and 3,732 units reported following the transactions.

What are the vesting terms for the restricted stock units reported on the Form 4?

The explanation states the units vest and are payable solely in cash as 1/36th on the 15th day of each month over 36-month periods beginning March 2024 and March 2025, respectively.

Who signed the Form 4 filing for the reporting person?

The Form 4 was signed by Jessica Jarvi (Attorney-in-fact) on 09/17/2025.