Western Alliance CFO reports $77 open-market buy of 4,000 shares

Rhea-AI Filing Summary

Western Alliance Bancorporation (WAL) reported an insider transaction by its Vice Chairman and CFO. On 10/30/2025, the executive purchased 4,000 shares of common stock at $77 per share. Following this trade, direct beneficial ownership stands at 300,358 shares, with an additional 612 shares held indirectly in a 401(k) plan as of 10/16/2025.

The filing also lists derivative holdings: cash-settled restricted stock units economically equivalent to one WAL share each, including 4,552 units that vest monthly from March 2024 to February 2027, and 5,919 units that vest monthly from March 2025 to February 2028. Restricted stock units representing a contingent right to receive WAL common stock vest upon the reporting person’s Qualified Retirement; the count reflects dividend reinvestment.

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

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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^*

GIBBONS DALE

(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)
	Vice Chairman and CFO

3. Date of Earliest Transaction (Month/Day/Year)
10/30/2025

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	10/30/2025		P		4,000	A	$77	300,358	D
Common Stock								612(1)	I	401K Plan

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)							(3)	(3)	Common Stock	4,552		4,552	D
Cash Settled Restricted Stock Units	(2)							(4)	(4)	Common Stock	5,919		5,919	D
Restricted Stock Units	(5)							(6)	(6)	Common Stock	24,424		24,757(7)	D

Explanation of Responses:

1. Reflects shares held in the 401K Plan to include employer match as of 10/16/25.

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 2024 and ending February 2027.

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 2025 and ending February 2028.

5. Each restricted stock unit represents a contingent right to receive one share of WAL common stock.

6. The restricted stock units vest upon the Reporting Person's Qualified Retirement from the Company.

7. The number of restricted stock units beneficially owned by the reporting person includes the reinvestment of WAL's quarterly dividends.

Remarks:

	/s/Jessica Jarvi (Attorney-in-fact)	10/30/2025
	** 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 did WAL's CFO report buying on Form 4?

On 10/30/2025, the CFO purchased 4,000 WAL common shares at $77 per share.

How many WAL shares does the CFO now directly hold?

Direct beneficial ownership is 300,358 shares after the reported purchase.

Does the CFO have additional WAL shares indirectly?

Yes, 612 shares are held indirectly through a 401(k) plan as of 10/16/2025.

What cash-settled RSUs are disclosed for WAL's CFO?

Cash-settled RSUs include 4,552 units vesting monthly from March 2024–February 2027, and 5,919 units vesting monthly from March 2025–February 2028.

What are the terms of the CFO’s restricted stock units (RSUs)?

Each RSU represents a contingent right to receive one WAL share and vests upon the reporting person’s Qualified Retirement.

What is the economic equivalence of the cash-settled RSUs?

Each unit is economically equivalent to one share of WAL common stock.