[Form 4] WESTERN ALLIANCE BANCORPORATION Insider Trading Activity

Rhea-AI Filing Summary

Western Alliance Bancorporation Chief Human Resources Officer Barbara Kennedy reported routine equity compensation activity involving common stock and cash-settled restricted stock units. On June 15, 2026, she exercised multiple derivative positions coded "M" to acquire small blocks of common stock and simultaneously reported "D" code dispositions of common shares back to the issuer, rather than open-market sales, at $81.81 per share.

Following these transactions, Kennedy directly held 10,332 shares of Western Alliance common stock and indirectly held 22,797 shares through the Barbara and Ted Kennedy TTEE Kennedy Family Trust. Footnotes state that the cash-settled restricted stock units vest and are payable solely in cash in equal monthly installments over 36-month periods beginning in March 2024, March 2025, and March 2026, and that each unit is the economic equivalent of one share of Western Alliance common stock.

Insider Trade Summary

257 shares exercised/converted

Mixed 10 txns

Insider Kennedy Barbara

Role Chief Human Resources Officer

Type	Security	Shares	Price	Value
Exercise	Cash Settled Restricted Stock Units	101	$0.00	--
Exercise	Cash Settled Restricted Stock Units	74	$0.00	--
Exercise	Cash Settled Restricted Stock Units	82	$0.00	--
Exercise	Common Stock	101	$0.00	--
Disposition	Common Stock	101	$81.81	$8K
Exercise	Common Stock	74	$0.00	--
Disposition	Common Stock	74	$81.81	$6K
Exercise	Common Stock	82	$0.00	--
Disposition	Common Stock	82	$81.81	$7K
holding	Common Stock	--	--	--

Holdings After Transaction: Cash Settled Restricted Stock Units — 796 shares (Direct, null); Common Stock — 10,433 shares (Direct, null); Common Stock — 22,797 shares (Indirect, Barbara and Ted Kennedy TTEE Kennedy Family Trust)

Footnotes (1)

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

Disposition price: $81.81 per share Single disposition amount: 82 shares Single disposition amount: 74 shares +4 more

7 metrics

Disposition price $81.81 per share Price for D-code dispositions to issuer on June 15, 2026

Single disposition amount 82 shares One D-code disposition of Western Alliance common stock

Single disposition amount 74 shares One D-code disposition of Western Alliance common stock

Single disposition amount 101 shares One D-code disposition of Western Alliance common stock

Direct holdings after transactions 10,332 shares Common stock directly held by Barbara Kennedy after June 15, 2026

Indirect holdings after transactions 22,797 shares Common stock held via Barbara and Ted Kennedy TTEE Kennedy Family Trust

Derivative exercises 257 shares Total shares from exercise or conversion of derivative securities

Key Terms

Disposition to issuer, Cash Settled Restricted Stock Units, economic equivalent, vest and are payable solely in cash

4 terms

Disposition to issuer financial

"transaction_action": "issuer disposition""

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 of Western Alliance Bancorporation common stock."

vest and are payable solely in cash financial

"These units vest and are payable solely in cash as follows: 1/36th on the 15th day of each month"

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Form 4 Insider Transactions: What Each Field Means →

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

Kennedy Barbara

(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)
	Chief Human Resources Officer

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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	06/15/2026		M		101(1)	A	$0(2)	10,433	D
Common Stock	06/15/2026		D		101	D	$81.81	10,332	D
Common Stock	06/15/2026		M		74(3)	A	$0(2)	10,406	D
Common Stock	06/15/2026		D		74	D	$81.81	10,332	D
Common Stock	06/15/2026		M		82(4)	A	$0(2)	10,414	D
Common Stock	06/15/2026		D		82	D	$81.81	10,332	D
Common Stock								22,797	I	Barbara and Ted Kennedy TTEE Kennedy Family Trust

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)	06/15/2026		M			101	(1)	(1)	Common Stock	101	(2)	796	D
Cash Settled Restricted Stock Units	(2)	06/15/2026		M			74	(3)	(3)	Common Stock	74	(2)	1,465	D
Cash Settled Restricted Stock Units	(2)	06/15/2026		M			82	(4)	(4)	Common Stock	82	(2)	2,635	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)