[Form 4] Western Alliance Bancorporation Insider Trading Activity

Rhea-AI Filing Summary

Timothy W. Boothe, identified as an officer (Chief Administration Officer) and a director of Western Alliance Bancorporation (WAL), reported multiple transactions on 08/15/2025. The filing shows sales of common stock at $82.55 that reduced his reported direct holdings to 63,202 shares. Concurrently, Boothe was recorded as receiving cash-settled restricted stock units that are the economic equivalent of common shares and vest in monthly installments over multi-year schedules. The report lists 1,749 and 2,069 cash-settled RSUs (total 3,818) with stated vesting schedules beginning March 2024 and March 2025, respectively. The filing also notes 325 shares held indirectly by spouse Alvina Boothe.

Positive

• Disclosure of scheduled, multi-year cash-settled RSU vesting (1/36th monthly for two award vintages)
• Detailed reporting of insider transactions including prices and resulting beneficial ownership, supporting transparency

Negative

• Insider sold common shares at $82.55, reducing direct beneficial ownership to 63,202 shares
• Net share count decreased relative to some reported pre-transaction amounts (dispositions recorded on the form)

Insights

Securities Analyst

TL;DR Insider executed market sales and concurrently received cash-settled RSUs; net ownership remains material but slightly reduced.

The Form 4 shows routine insider activity combining disposals and grant-related vesting. Dispositions at $82.55 lowered direct beneficial ownership to 63,202 shares, while cash-settled restricted stock units totaling 3,818 were recorded as vesting and payable in cash over defined monthly schedules. These transactions are recorded as occurring on the same date, indicating contemporaneous compensation vesting and insider sales rather than open-market accumulation. For investors, this is a disclosure of compensation realization and liquidity actions by a senior officer; the filing contains no indication of rule 10b5-1 reliance or unusual corporate events.

Corporate Governance Expert

TL;DR Compensation vesting and share sales by an officer/director are disclosed; governance implications are routine and non-disruptive.

The document records scheduled cash-settled RSU vesting (1/36th monthly) for two award vintages and concurrent share dispositions. The explicit vesting schedules—March 2024–February 2027 and March 2025–February 2028—show multi-year retention design applied to compensation. The presence of both director and officer checkboxes confirms dual roles, and indirect holdings via spouse (325 shares) are disclosed. No amendments, special grants outside the schedules, or disclaimers about trading plans are included in the filing text provided.

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
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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^*

Boothe Timothy W

(Last) (First) (Middle)

ONE E. WASHINGTON ST., SUITE 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 Administration Officer

3. Date of Earliest Transaction (Month/Day/Year)
08/15/2025

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	08/15/2025		M		97(1)	A	$0(2)	63,299	D
Common Stock	08/15/2025		D		97	D	$82.55	63,202	D
Common Stock	08/15/2025		M		69(3)	A	$0(2)	63,271	D
Common Stock	08/15/2025		D		69	D	$82.55	63,202	D
Common Stock								325	I	Alvina Boothe (spouse)

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)	08/15/2025		M			97	(1)	(1)	Common Stock	97	(2)	1,749	D
Cash Settled Restricted Stock Units	(2)	08/15/2025		M			69	(3)	(3)	Common Stock	69	(2)	2,069	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.

Remarks:

	/s/Jessica Jarvi (Attorney-in-fact)	08/18/2025
	** 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 transactions did WAL insider Timothy Boothe report on 08/15/2025?

The Form 4 reports sales of common stock at $82.55 and the recording of cash-settled restricted stock units that vest monthly.

How many cash-settled RSUs were reported for Timothy Boothe?

The filing shows 1,749 and 2,069 cash-settled RSUs (total 3,818) payable in cash and economically equivalent to common shares.

What is Timothy Boothe's reported direct beneficial ownership after these transactions?

Following the reported transactions, direct beneficial ownership is reported as 63,202 shares.

Are any indirect holdings disclosed in the Form 4 for WAL?

Yes; the filing discloses 325 shares held indirectly by spouse Alvina Boothe.

What are the vesting schedules for the cash-settled RSUs in the filing?

One award vests 1/36th monthly from March 2024 to February 2027; the other vests 1/36th monthly from March 2025 to February 2028.