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Western Alliance (NYSE: WAL) exec reports 726-unit exercise and issuer disposition, holds 267,093 shares

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

WESTERN ALLIANCE BANCORPORATION executive Dale Gibbons, Vice Chair and CBO, Deposits, reported a series of compensation-related transactions in common stock and cash-settled restricted stock units. On June 15, 2026, he exercised derivative awards covering a total of 726 shares of common stock equivalents through multiple transactions coded M.

In corresponding transactions coded D, the same total of 726 common shares was disposed of to the issuer at $81.81 per share, leaving Gibbons with 267,093 shares of common stock held directly. He also holds 612 shares indirectly through a 401K plan, which includes employer match as of June 11, 2026.

The filing notes that the cash-settled restricted stock units are payable solely in cash and that each unit is the economic equivalent of one share of Western Alliance Bancorporation common stock, vesting monthly in 36 equal installments over various three-year periods.

Positive

  • None.

Negative

  • None.
Insider GIBBONS DALE
Role Vice Chair and CBO, Deposits
Type Security Shares Price Value
Exercise Cash Settled Restricted Stock Units 285 $0.00 --
Exercise Cash Settled Restricted Stock Units 212 $0.00 --
Exercise Cash Settled Restricted Stock Units 229 $0.00 --
Exercise Common Stock 285 $0.00 --
Disposition Common Stock 285 $81.81 $23K
Exercise Common Stock 212 $0.00 --
Disposition Common Stock 212 $81.81 $17K
Exercise Common Stock 229 $0.00 --
Disposition Common Stock 229 $81.81 $19K
holding Common Stock -- -- --
Holdings After Transaction: Cash Settled Restricted Stock Units — 2,272 shares (Direct, null); Common Stock — 267,378 shares (Direct, null); Common Stock — 612 shares (Indirect, 401K Plan)
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. Reflects shares held in the 401K Plan to include employer match as of 6/11/2026.
Derivative shares exercised 726 shares Total common stock equivalents exercised via code M on June 15, 2026
Shares disposed to issuer 726 shares Common shares disposed via code D at $81.81 per share
Disposition price $81.81 per share Price for D-coded dispositions of common stock
Direct common shares held 267,093 shares Direct WAL common stock holdings after transactions
Indirect 401K holdings 612 shares Common shares held indirectly in 401K plan as of June 11, 2026
RSU balance tranche 1 7,316 units Cash-settled RSUs remaining after M transactions, tranche ending February 2027
RSU balance tranche 2 4,223 units Cash-settled RSUs remaining, tranche ending February 2028
RSU balance tranche 3 2,272 units Cash-settled RSUs remaining, tranche ending February 2029
Cash Settled Restricted Stock Units financial
"security_title: "Cash Settled Restricted Stock Units" with underlying security title 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 D-coded common stock transactions"
economic equivalent financial
"Each unit is the economic equivalent of one share of Western Alliance Bancorporation common stock."
401K Plan financial
"Reflects shares held in the 401K Plan to include employer match as of 6/11/2026."
A 401(k) plan is an employer-sponsored retirement savings account that lets workers set aside part of their paycheck into investments, often with tax breaks and sometimes with matching contributions from the employer. Think of it as a workplace piggy bank that grows through employee contributions, optional company top-ups, and market returns; it matters to investors because it shapes household retirement security, drives large flows of money into public markets, and affects a company’s compensation costs and ability to attract and keep talent.
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 →
SEC Form 4
FORM 4UNITED 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*
GIBBONS DALE
(Last)(First)(Middle)
C/O WESTERN ALLIANCE BANCORPORATION
ONE E. WASHINGTON STREET, STE 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)
Director10% Owner
XOfficer (give title below)Other (specify below)
Vice Chair and CBO, Deposits
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
06/15/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm 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)
CodeVAmount(A) or (D)Price
Common Stock06/15/2026M285(1)A$0(2)267,378D
Common Stock06/15/2026D285D$81.81267,093D
Common Stock06/15/2026M212(3)A$0(2)267,305D
Common Stock06/15/2026D212D$81.81267,093D
Common Stock06/15/2026M229(4)A$0(2)267,322D
Common Stock06/15/2026D229D$81.81267,093D
Common Stock612(5)I401K 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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Cash Settled Restricted Stock Units(2)06/15/2026M285 (1) (1)Common Stock285(2)2,272D
Cash Settled Restricted Stock Units(2)06/15/2026M212 (3) (3)Common Stock212(2)4,223D
Cash Settled Restricted Stock Units(2)06/15/2026M229 (4) (4)Common Stock229(2)7,316D
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.
5. Reflects shares held in the 401K Plan to include employer match as of 6/11/2026.
Remarks:
/s/Jessica Jarvi (Attorney-in-fact)06/17/2026
** Signature of Reporting PersonDate
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

FAQ

What insider transactions did WAL executive Dale Gibbons report on this Form 4?

Dale Gibbons reported exercising derivative awards tied to 726 common stock equivalents and disposing of the same 726 common shares to the issuer at $81.81 per share, leaving his overall direct share count essentially unchanged at 267,093 shares.

How many WESTERN ALLIANCE (WAL) shares does Dale Gibbons hold after these transactions?

After the reported transactions, Dale Gibbons holds 267,093 shares of Western Alliance common stock directly. He also has an additional 612 shares held indirectly through a 401K plan, which reflects plan holdings including employer match as of June 11, 2026.

Were the WAL insider transactions open-market buys or sells of common stock?

The filing shows no open-market purchases or sales. Instead, it records exercises of derivative awards (code M) and matching dispositions of common shares to the issuer (code D) at $81.81 per share, indicating compensation-related activity rather than open-market trading in WAL stock.

What are the cash-settled restricted stock units reported by WAL’s Dale Gibbons?

The cash-settled restricted stock units are awards that vest monthly in 36 equal installments over three-year periods and are payable solely in cash. Each unit is described as the economic equivalent of one share of Western Alliance Bancorporation common stock, rather than delivering actual shares.

How many WAL cash-settled RSUs remain outstanding for Dale Gibbons after this Form 4?

After the reported exercises, Gibbons shows remaining balances of 7,316, 4,223, and 2,272 cash-settled restricted stock units across three award tranches. These units vest 1/36th monthly over three-year periods ending in February 2027, February 2028, and February 2029.

How do the WAL cash-settled RSUs for Dale Gibbons vest over time?

The footnotes state that certain WAL cash-settled RSU grants vest and are payable solely in cash, with 1/36th of the units vesting on the 15th of each month over 36 months, for award cycles running from March 2024 through February 2029.