[Form 4] WESTERN ALLIANCE BANCORPORATION Insider Trading Activity

Rhea-AI Filing Summary

Western Alliance Bancorporation (WAL) Form 4 summary: Tim R. Bruckner, CBO for Regional Banking and an officer of the company, reported multiple transactions on 09/15/2025. He acquired 158 and 115 cash-settled restricted stock units (RSUs) that are economically equivalent to shares and vest monthly under two separate 36-month schedules beginning March 2024 and March 2025. Those vesting events increased his beneficial holdings to 24,874 shares and 24,917 shares on different entries before offsetting dispositions. He also sold shares at $89.05, with reported beneficial ownership at 24,759 shares following the sales. The filing was signed by an attorney-in-fact.

Positive

• Transparent disclosure of RSU vesting schedules and cash-settled nature, showing clear compliance with Section 16 reporting
• Beneficial ownership remained stable around ~24,700–24,900 shares after transactions, indicating no major change in control

Negative

• Reported disposals at $89.05 reduced immediate shareholdings, reflecting monetization of vested compensation

Insights

Securities Analyst

TL;DR: Routine officer vesting and small open-market sales; no material change to control or capital structure.

The Form 4 discloses scheduled vesting of cash-settled RSUs and contemporaneous sales of common stock at $89.05. The transactions reflect compensation vesting mechanics rather than strategic insider purchases or large disposals. Beneficial ownership remains around 24,700–24,900 shares, indicating no material ownership shift. For investors, this is a routine insider compensation event with limited market impact based solely on the disclosed quantities and prices.

Corporate Governance Expert

TL;DR: Compensation-driven vesting and executed sales appear compliant and routine under Section 16 reporting.

The statement details two separate RSU programs with explicit monthly vesting schedules and clarifies the units are cash-settled and tied to common stock economics. Reporting shows acquisitions via vesting (transaction code M) and disposals (transaction code D) at a specific price, with the form filed individually by the reporting person. There are no indications of a Rule 10b5-1 plan box checked, so trades appear tied to immediate vesting and sale to monetize compensation. Materiality is low based on disclosed amounts.

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^*

Bruckner Tim R

(Last) (First) (Middle)

ONE E WASHINGTON ST., SUITE 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)
	CBO for Regional Banking

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		158(1)	A	$0(2)	24,917	D
Common Stock	09/15/2025		D		158	D	$89.05	24,759	D
Common Stock	09/15/2025		M		115(3)	A	$0(2)	24,874	D
Common Stock	09/15/2025		D		115	D	$89.05	24,759	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			158	(1)	(1)	Common Stock	158	(2)	2,693	D
Cash Settled Restricted Stock Units	(2)	09/15/2025		M			115	(3)	(3)	Common Stock	115	(2)	3,333	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 Tim R. Bruckner report on WAL Form 4?

He reported acquisitions via vesting of cash-settled RSUs and disposals of common stock on 09/15/2025, with sales at $89.05.

How many RSUs vested and what do they represent?

158 and 115 units vested on separate entries; each unit is the economic equivalent of one share of WAL common stock and is cash-settled.

What are the RSU vesting schedules disclosed?

One schedule vests 1/36th monthly from March 2024 through February 2027; the other vests 1/36th monthly from March 2025 through February 2028.

What was Bruckner's beneficial ownership after the reported transactions?

Beneficial ownership is reported around 24,759 to 24,917 shares following the transactions.

Were these trades part of a 10b5-1 plan?

No 10b5-1 plan box is checked in the filing; the form does not indicate trades were made under such a plan.