Did Lynne Herndon’s WAL Form 4 indicate a net share purchase or sale?

The reported transactions for WAL resulted in no net change in reported common stock holdings, as 84 shares were acquired at $0.00 per share and the same 84 shares were disposed of to the issuer at $82.32 per share.

Western Alliance credit chief nets zero on 84 RSUs

Q: What insider transactions did WAL report for Lynne Herndon on this Form 4?

The Form 4 for WAL shows Lynne Herndon settled 84 cash-settled RSUs into common stock and on the same date disposed of 84 shares back to the issuer, resulting in no net change in reported common stock holdings.

Q: How many Western Alliance Bancorporation RSUs were involved in Lynne Herndon’s WAL Form 4?

Lynne Herndon’s Form 4 for WAL reports settlement of 84 cash-settled restricted stock units, in three tranches of 35, 22, and 27 units, each economically equivalent to one share of Western Alliance Bancorporation common stock.

Q: Were the WAL transactions under a Rule 10b5-1 trading plan?

The filing for WAL has the Rule 10b5-1 checkbox shown as not affirmatively checked (aff_10b5_one is false), and the footnotes do not state that these transactions were executed under a Rule 10b5-1 trading plan.

WESTERN ALLIANCE BANCORPORATION (WAL) reported Form 4 activity for Chief Credit Officer Lynne Herndon involving cash-settled restricted stock units tied to common stock.

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)How Sentiment works

Sentiment and the balance of points

Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.

How Sentiment works How the balance works

Form Type

Rhea-AI Filing Summary

WESTERN ALLIANCE BANCORPORATION (WAL) reported Form 4 activity for Chief Credit Officer Lynne Herndon involving cash-settled restricted stock units tied to common stock. On 2026-08-15, a total of 84 cash-settled RSUs, each economically equivalent to one share of common stock, were exercised or settled in three tranches (35, 22 and 27 units). Corresponding to these settlements, Herndon acquired 84 shares of common stock at $0.00 per share and on the same date disposed of 84 shares to the issuer at $82.32 per share through three matching transactions, resulting in no net change in her reported common stock position.

Insider Trade Summary

84 shares exercised/converted

Exercise 9 txns

Insider Herndon Lynne

Role Chief Credit Officer

Type	Security	Shares	Price	Value
Exercise	Cash Settled Restricted Stock Units ^{F2, F1}	35	--	--
Exercise	Cash Settled Restricted Stock Units ^{F2, F3}	22	--	--
Exercise	Cash Settled Restricted Stock Units ^{F2, F4}	27	--	--
Exercise	Common Stock ^{F1, F2}	35	$0.00	$0.00
Disposition	Common Stock	35	$82.32	$3K
Exercise	Common Stock ^{F3, F2}	22	$0.00	$0.00
Disposition	Common Stock	22	$82.32	$2K
Exercise	Common Stock ^{F4, F2}	27	$0.00	$0.00
Disposition	Common Stock	27	$82.32	$2K

Holdings After Transaction: Cash Settled Restricted Stock Units — 1,415 contracts (Direct); Common Stock — 1,880 shares (Direct)

Footnotes (4)

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.
F2. Each unit is the economic equivalent of one share of Western Alliance Bancorporation common stock.
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.
F4. 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

Key Figures

RSUs settled: 84 units RSU tranches: 35; 22; 27 units Common shares acquired: 84 shares +3 more

6 metrics

RSUs settled 84 units Total cash-settled restricted stock units economically equivalent to common stock settled on 2026-08-15

RSU tranches 35; 22; 27 units Three separate cash-settled RSU derivative transactions on 2026-08-15

Common shares acquired 84 shares Common stock acquired via derivative exercise/conversion at $0.0000 per share on 2026-08-15

Common shares disposed 84 shares Common stock disposed of to issuer in three transactions on 2026-08-15

Disposition price $82.3200 per share Price for each of the three common stock dispositions to the issuer

Net buy/sell shares 0 shares Transaction summary netBuySellShares across reported transactions

Key Terms

Cash Settled Restricted Stock Units, economic equivalent, disposition to issuer

3 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.

economic equivalent financial

"Each unit is the economic equivalent of one share"

disposition to issuer financial

"transaction_code_description: Disposition to issuer"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transactions did WAL report for Lynne Herndon on this Form 4?

The Form 4 for WAL shows Lynne Herndon settled 84 cash-settled RSUs into common stock and on the same date disposed of 84 shares back to the issuer, resulting in no net change in reported common stock holdings.

How many Western Alliance Bancorporation RSUs were involved in Lynne Herndon’s WAL Form 4?

Lynne Herndon’s Form 4 for WAL reports settlement of 84 cash-settled restricted stock units, in three tranches of 35, 22, and 27 units, each economically equivalent to one share of Western Alliance Bancorporation common stock.

At what price were WAL common shares disposed of in this Form 4?

The Form 4 shows dispositions of Western Alliance Bancorporation (WAL) common stock to the issuer at $82.32 per share, in three separate transactions covering 35, 22, and 27 shares, respectively, all dated 2026-08-15.

Were the WAL transactions under a Rule 10b5-1 trading plan?

The filing for WAL has the Rule 10b5-1 checkbox shown as not affirmatively checked (aff_10b5_one is false), and the footnotes do not state that these transactions were executed under a Rule 10b5-1 trading plan.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 08/18/2026 - 04:28 PM Accepted by SEC EDGAR 08/18/2026 - 04:26 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^*

Herndon Lynne

(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)
	Chief Credit Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
08/15/2026

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	08/15/2026		M		35⁽¹⁾	A	$0⁽²⁾	1,915	D
Common Stock	08/15/2026		D		35	D	$82.32	1,880	D
Common Stock	08/15/2026		M		22⁽³⁾	A	$0⁽²⁾	1,902	D
Common Stock	08/15/2026		D		22	D	$82.32	1,880	D
Common Stock	08/15/2026		M		27⁽⁴⁾	A	$0⁽²⁾	1,907	D
Common Stock	08/15/2026		D		27	D	$82.32	1,880	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)
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⁾	08/15/2026		M			35	⁽¹⁾	⁽¹⁾	Common Stock	35	⁽²⁾	192	D
Cash Settled Restricted Stock Units	⁽²⁾	08/15/2026		M			22	⁽³⁾	⁽³⁾	Common Stock	22	⁽²⁾	398	D
Cash Settled Restricted Stock Units	⁽²⁾	08/15/2026		M			27	⁽⁴⁾	⁽⁴⁾	Common Stock	27	⁽²⁾	825	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

Remarks:

	/s/Jessica Jarvi (Attorney-in-fact)	08/18/2026
	** 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