Western Alliance exec exercises 415 cash-settled RSUs

Western Alliance Bancorporation reported that CBO for Regional Banking Tim R. Bruckner exercised compensation-related awards and settled them in cash.

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Form Type

Rhea-AI Filing Summary

Western Alliance Bancorporation reported that CBO for Regional Banking Tim R. Bruckner exercised compensation-related awards and settled them in cash. On the reported date, he exercised derivative awards equivalent to 415 shares of common stock while corresponding dispositions to the issuer occurred at $81.81 per share, resulting in no net open-market buying or selling.

After these transactions, Bruckner directly owns 29,068 shares of common stock. The filing also shows ongoing grants of cash settled restricted stock units, each economically equivalent to one common share, vesting monthly in 36 equal installments between March 2024 and February 2029.

Insider Trade Summary

415 shares exercised/converted

Exercise 9 txns

Insider Bruckner Tim R

Role CBO for Regional Banking

Type	Security	Shares	Price	Value
Exercise	Cash Settled Restricted Stock Units	158	$0.00	$0.00
Exercise	Cash Settled Restricted Stock Units	115	$0.00	$0.00
Exercise	Cash Settled Restricted Stock Units	142	$0.00	$0.00
Exercise	Common Stock	158	$0.00	$0.00
Disposition	Common Stock	158	$81.81	$13K
Exercise	Common Stock	115	$0.00	$0.00
Disposition	Common Stock	115	$81.81	$9K
Exercise	Common Stock	142	$0.00	$0.00
Disposition	Common Stock	142	$81.81	$12K

Holdings After Transaction: Cash Settled Restricted Stock Units — 8,104 contracts (Direct); Common Stock — 29,068 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

Derivative exercises: 415 shares equivalent Disposition price: $81.81 per share Direct holdings after transactions: 29,068 shares +3 more

6 metrics

Derivative exercises 415 shares equivalent Total underlying common stock from exercised awards on transaction date

Disposition price $81.81 per share Price for issuer dispositions of common stock on transaction date

Direct holdings after transactions 29,068 shares Common stock directly owned by Tim Bruckner following reported activity

RSUs remaining (Grant beginning March 2024) 4,535 units Cash settled RSUs vesting monthly from March 2024 to February 2027

RSUs remaining (Grant beginning March 2025) 2,298 units Cash settled RSUs vesting monthly from March 2025 to February 2028

RSUs remaining (Grant beginning March 2026) 1,271 units Cash settled RSUs vesting monthly from March 2026 to February 2029

Key Terms

Cash Settled Restricted Stock Units, Disposition to issuer, Exercise or conversion of derivative security, economic equivalent of one share, +1 more

5 terms

Cash Settled Restricted Stock Units financial

"security_title: "Cash Settled Restricted Stock Units" with economic equivalence to common stock"

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.

Disposition to issuer financial

"transaction_code_description: "Disposition to issuer" for common stock entries"

Exercise or conversion of derivative security financial

"transaction_code_description: "Exercise or conversion of derivative security" on multiple transactions"

vest and are payable solely in cash financial

"Footnotes explain these units vest and are payable solely in cash over 36 months"

FAQ

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

What insider transactions did WAL executive Tim Bruckner report on this Form 4?

Tim Bruckner reported exercising awards economically equivalent to 415 Western Alliance shares and corresponding dispositions to the issuer at $81.81 per share. These were compensation-related settlements rather than open-market trades and did not change his net position through market buying or selling.

How many Western Alliance (WAL) shares does Tim Bruckner hold after the reported transactions?

After the reported transactions, Tim Bruckner directly owns 29,068 shares of Western Alliance common stock. This figure reflects his position following the exercises and related dispositions to the issuer disclosed in the Form 4, providing context for the scale of the activity.

Were Tim Bruckner’s WAL transactions open-market stock sales or purchases?

The Form 4 shows no open-market purchases or sales by Tim Bruckner. Instead, it reports exercises of derivative awards and dispositions to the issuer at $81.81 per share, reflecting compensation-related settlements rather than traditional market trading activity in Western Alliance stock.

What are cash settled restricted stock units in the WAL Form 4 filing?

The filing describes cash settled restricted stock units that are paid solely in cash and are each economically equivalent to one Western Alliance common share. They vest monthly in equal installments over 36 months, tying Bruckner’s compensation to the company’s share value without issuing actual shares.

What vesting schedule applies to Tim Bruckner’s WAL cash settled RSUs?

The cash settled restricted stock units vest and pay in cash in 36 equal monthly installments. One grant vests from March 2024 to February 2027, a second from March 2025 to February 2028, and a third from March 2026 to February 2029, aligning vesting with multi-year service.

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

Form 4 Insider Transactions: What Each Field Means →

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Accepted by SEC EDGAR 06/17/2026 - 05:18 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^*

Bruckner Tim R

(Last)

(First)

(Middle)

ONE E WASHINGTON ST., 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)
	CBO for Regional Banking

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/15/2026

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	06/15/2026		M		158⁽¹⁾	A	$0⁽²⁾	29,226	D
Common Stock	06/15/2026		D		158	D	$81.81	29,068	D
Common Stock	06/15/2026		M		115⁽³⁾	A	$0⁽²⁾	29,183	D
Common Stock	06/15/2026		D		115	D	$81.81	29,068	D
Common Stock	06/15/2026		M		142⁽⁴⁾	A	$0⁽²⁾	29,210	D
Common Stock	06/15/2026		D		142	D	$81.81	29,068	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⁾	06/15/2026		M			158	⁽¹⁾	⁽¹⁾	Common Stock	158	⁽²⁾	1,271	D
Cash Settled Restricted Stock Units	⁽²⁾	06/15/2026		M			115	⁽³⁾	⁽³⁾	Common Stock	115	⁽²⁾	2,298	D
Cash Settled Restricted Stock Units	⁽²⁾	06/15/2026		M			142	⁽⁴⁾	⁽⁴⁾	Common Stock	142	⁽²⁾	4,535	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)	06/17/2026
	** 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