Western Alliance (WAL) officer receives 3,513 shares and 5,268 cash-settled RSUs

Rhea-AI Filing Summary

Western Alliance Bancorporation officer receives equity-linked awards. Chief Banking Officer – NBL Stephen Russell Curley acquired 3,513 shares of common stock at a price of $0, bringing his directly held common stock to 41,252 shares.

He was also granted 5,268 cash-settled restricted stock units, each economically equivalent to one share of Western Alliance common stock. These units vest and are payable solely in cash, with 1/36th of the award vesting on the 15th of each month from March 2026 through February 2029.

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

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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^*

Curley Stephen Russell

(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)
	Chief Banking Ofc.-NBL

3. Date of Earliest Transaction (Month/Day/Year)
02/05/2026

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	02/05/2026		A		3,513	A	$0	41,252	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	(1)	02/05/2026		A		5,268		(2)	(2)	Common Stock	5,268	(1)	5,268	D

Explanation of Responses:

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

2. 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)	02/09/2026
	** 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.

FAQ

What insider transaction did WAL executive Stephen Russell Curley report on this Form 4?

Stephen Russell Curley reported acquiring 3,513 shares of Western Alliance Bancorporation common stock at $0 per share. He also received 5,268 cash-settled restricted stock units, which are economically equivalent to common shares but will be settled only in cash as they vest over time.

How many Western Alliance (WAL) shares does Stephen Russell Curley own after this transaction?

After the reported transaction, Stephen Russell Curley beneficially owns 41,252 shares of Western Alliance Bancorporation common stock directly. This figure reflects his updated common share holdings and does not include the separate 5,268 cash-settled restricted stock units, which pay out in cash rather than shares.

What are the terms of the 5,268 cash-settled restricted stock units granted to the WAL officer?

The 5,268 cash-settled restricted stock units are economically equivalent to one share of Western Alliance common stock each. They vest and are payable solely in cash, with 1/36th of the award vesting on the 15th of each month from March 2026 through February 2029.

Does the WAL Form 4 show these insider awards as direct or indirect ownership?

Both the 3,513 newly acquired Western Alliance common shares and the 5,268 cash-settled restricted stock units are reported as directly owned. The filing does not list any nature of indirect beneficial ownership, indicating these positions are held in the officer’s direct capacity with the issuer.

What transaction code is used for Stephen Russell Curley’s WAL equity awards on this Form 4?

The Form 4 uses transaction code “A” for both the common stock and the cash-settled restricted stock units. Code “A” indicates an acquisition, which in this context reflects an equity and cash-settled incentive grant to the Western Alliance Bancorporation executive on the reported transaction date.

Over what period will the WAL officer’s cash-settled restricted stock units vest?

The cash-settled restricted stock units vest over a 36‑month period. Specifically, 1/36th of the 5,268 units vests on the 15th day of each month starting in March 2026 and continuing through February 2029, with each vested unit paid solely in cash.