Western Alliance Bancorporation (WAL) officer logs stock and unit deals

Rhea-AI Filing Summary

Western Alliance Bancorporation’s chief administration officer reported routine equity-related transactions dated 12/15/2025. The filing shows transaction code M entries tied to cash-settled restricted stock units for 97 and 69 units, paired with transaction code D sales of 97 and 69 shares of common stock at $86.18 per share. After these transactions, the officer directly holds 63,202 shares of common stock and indirectly holds 325 shares through spouse Alvina Boothe. The officer also continues to hold cash-settled restricted stock units, with 1,361 units from a grant vesting monthly from March 2024 to February 2027 and 1,793 units from a grant vesting monthly from March 2025 to February 2028, each unit being the economic equivalent of one WAL share and payable solely in cash.

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^*

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)
12/15/2025

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	12/15/2025		M		97(1)	A	$0(2)	63,299	D
Common Stock	12/15/2025		D		97	D	$86.18	63,202	D
Common Stock	12/15/2025		M		69(3)	A	$0(2)	63,271	D
Common Stock	12/15/2025		D		69	D	$86.18	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)	12/15/2025		M			97	(1)	(1)	Common Stock	97	(2)	1,361	D
Cash Settled Restricted Stock Units	(2)	12/15/2025		M			69	(3)	(3)	Common Stock	69	(2)	1,793	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)	12/16/2025
	** 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 insider transactions did Western Alliance Bancorporation (WAL) disclose in this filing?

The report shows that on 12/15/2025 the chief administration officer had transaction code M entries related to cash-settled restricted stock units for 97 and 69 units and transaction code D sales of 97 and 69 shares of Western Alliance Bancorporation common stock at $86.18 per share.

How many Western Alliance Bancorporation (WAL) shares does the officer own after these transactions?

Following the reported 12/15/2025 transactions, the officer directly owns 63,202 shares of Western Alliance Bancorporation common stock and indirectly owns 325 shares through spouse Alvina Boothe.

What are the vesting terms of the cash-settled restricted stock units reported by WAL?

One set of units vests and is payable solely in cash at 1/36th on the 15th day of each month from March 2024 through February 2027, and another vests at 1/36th monthly from March 2025 through February 2028. Each unit is the economic equivalent of one share of Western Alliance Bancorporation common stock.

How many cash-settled restricted stock units does the WAL officer hold after the 12/15/2025 transactions?

After the reported transactions, the officer holds 1,361 cash-settled restricted stock units from the first grant and 1,793 cash-settled restricted stock units from the second grant.

What sale price is disclosed for the Western Alliance Bancorporation (WAL) common stock in this report?

The Form 4 shows transaction code D sales of Western Alliance Bancorporation common stock at a price of $86.18 per share on 12/15/2025.

What does it mean that the Western Alliance Bancorporation units are cash-settled and economically equivalent to WAL shares?

The explanation states that each cash-settled restricted stock unit is payable solely in cash and is the economic equivalent of one share of Western Alliance Bancorporation common stock, meaning the unit’s value tracks the share price even though it is settled in cash.