Western Alliance (NYSE: WAL) CAO reports cash-settled RSU exercises and share dispositions

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Western Alliance Bancorporation’s Chief Administration Officer Timothy W. Boothe reported routine compensation-related transactions involving cash-settled restricted stock units and corresponding common stock entries. On April 15, 2026, he exercised derivative awards covering 235 cash-settled units, each economically equivalent to one share of common stock and payable solely in cash according to vesting schedules running monthly through February 2029.

Related non-derivative entries show matching issuer dispositions of 97 and 69 common shares at $78.51 per share, reflecting settlements back to the company rather than open‑market sales. Following these transactions, Boothe directly holds 65,417 common shares and indirectly holds 325 shares through his spouse.

Insider Trade Summary

235 shares exercised/converted

Mixed 10 txns

Insider Boothe Timothy W

Role Chief Administration Officer

Type	Security	Shares	Price	Value
Exercise	Cash Settled Restricted Stock Units	97	$0.00	--
Exercise	Cash Settled Restricted Stock Units	69	$0.00	--
Exercise	Cash Settled Restricted Stock Units	69	$0.00	--
Exercise	Common Stock	97	$0.00	--
Disposition	Common Stock	97	$78.51	$8K
Exercise	Common Stock	69	$0.00	--
Disposition	Common Stock	69	$78.51	$5K
Exercise	Common Stock	69	$0.00	--
Disposition	Common Stock	69	$78.51	$5K
holding	Common Stock	--	--	--

Holdings After Transaction: Cash Settled Restricted Stock Units — 973 shares (Direct); Common Stock — 65,514 shares (Direct); Common Stock — 325 shares (Indirect, Alvina Boothe (spouse))

Footnotes (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

Cash-settled RSUs exercised: 235 units Issuer disposition at $78.51: 97 shares Additional issuer dispositions at $78.51: 69 shares (two entries) +4 more

7 metrics

Cash-settled RSUs exercised 235 units Derivative exercises on April 15, 2026

Issuer disposition at $78.51 97 shares Common stock returned to issuer at $78.51

Additional issuer dispositions at $78.51 69 shares (two entries) Common stock returned to issuer at $78.51

Direct holdings after transactions 65,417 shares Common stock directly owned after April 15, 2026

Indirect holdings via spouse 325 shares Common stock held indirectly through spouse

Cash-settled RSU vesting span 36 months Monthly vesting from March 2024–February 2027 and later periods

RSU economic equivalence 1 unit = 1 share Each unit equals one share of common stock economically

Key Terms

Cash Settled Restricted Stock Units, Disposition to issuer, economic equivalent, Chief Administration Officer, +1 more

5 terms

Cash Settled Restricted Stock Units financial

"These units vest and are payable solely in cash as follows: 1/36th..."

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""

economic equivalent financial

"Each unit is the economic equivalent of one share of Western Alliance..."

Chief Administration Officer financial

""officer_title": "Chief Administration Officer""

indirect ownership financial

""ownership_type": "indirect", "nature_of_ownership": "Alvina Boothe (spouse)""

Form 4 Insider Transactions: What Each Field Means →

04/17/2026 - 05:05 PM

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^*

Boothe Timothy W

(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 Administration Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/15/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	04/15/2026		M		97⁽¹⁾	A	$0⁽²⁾	65,514	D
Common Stock	04/15/2026		D		97	D	$78.51	65,417	D
Common Stock	04/15/2026		M		69⁽³⁾	A	$0⁽²⁾	65,486	D
Common Stock	04/15/2026		D		69	D	$78.51	65,417	D
Common Stock	04/15/2026		M		69⁽⁴⁾	A	$0⁽²⁾	65,486	D
Common Stock	04/15/2026		D		69	D	$78.51	65,417	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Cash Settled Restricted Stock Units	⁽²⁾	04/15/2026		M			97	⁽¹⁾	⁽¹⁾	Common Stock	97	⁽²⁾	973	D
Cash Settled Restricted Stock Units	⁽²⁾	04/15/2026		M			69	⁽³⁾	⁽³⁾	Common Stock	69	⁽²⁾	1,517	D
Cash Settled Restricted Stock Units	⁽²⁾	04/15/2026		M			69	⁽⁴⁾	⁽⁴⁾	Common Stock	69	⁽²⁾	2,331	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)	04/17/2026
	** 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)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transactions did WAL executive Timothy Boothe report on this Form 4?

Timothy Boothe reported exercises of 235 cash-settled restricted stock units and related common stock entries. These included issuer dispositions of 97 and 69 common shares at $78.51 per share, reflecting compensation settlement activity rather than open‑market buying or selling.

Were the WAL Form 4 transactions open-market buys or sells of common stock?

The reported WAL transactions were not open-market trades. They involved exercises of cash-settled restricted stock units and issuer dispositions of 97 and 69 common shares at $78.51 per share, meaning the shares were returned to Western Alliance, not sold into the market.

How many Western Alliance shares does Timothy Boothe hold after these transactions?

After the reported transactions, Timothy Boothe directly holds 65,417 shares of Western Alliance common stock. The filing also shows an additional 325 common shares held indirectly through his spouse, providing a combined position visible within this single Form 4.

What are cash-settled restricted stock units in the WAL Form 4 filing?

The cash-settled restricted stock units are compensation awards that vest monthly and are payable solely in cash. Each unit is the economic equivalent of one share of Western Alliance common stock, with vesting schedules running from March 2024 through February 2029 depending on the grant.

At what price were WAL common shares disposed of back to the issuer?

The Form 4 shows issuer dispositions of Western Alliance common stock at $78.51 per share. These dispositions covered 97 shares in one entry and 69 shares in two additional entries, all dated April 15, 2026, reflecting settlement back to the company.