WAL insider reports RSU conversions and sales at $78.84

Rhea-AI Filing Summary

Western Alliance Bancorporation officer (Chief Administration Officer) reported transactions on 10/15/2025 on a Form 4. The filing shows the conversion (code M) of 97 and 69 cash-settled restricted stock units at $0 per unit, followed by dispositions of the same share amounts at $78.84 per share. Each unit is the economic equivalent of one share of common stock.

After these transactions, the reporting person held 63,202 shares directly. An additional 325 shares were reported as indirectly owned through a spouse. The cash-settled units vest monthly on the 15th day, with schedules running from March 2024 to February 2027 and from March 2025 to February 2028, respectively.

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)
10/15/2025

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	10/15/2025		M		97(1)	A	$0(2)	63,299	D
Common Stock	10/15/2025		D		97	D	$78.84	63,202	D
Common Stock	10/15/2025		M		69(3)	A	$0(2)	63,271	D
Common Stock	10/15/2025		D		69	D	$78.84	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)	10/15/2025		M			97	(1)	(1)	Common Stock	97	(2)	1,555	D
Cash Settled Restricted Stock Units	(2)	10/15/2025		M			69	(3)	(3)	Common Stock	69	(2)	1,931	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)	10/17/2025
	** 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 did WAL's officer report on the latest Form 4?

On 10/15/2025, the officer reported converting 97 and 69 cash-settled RSUs at $0 and selling the same amounts at $78.84 per share.

How many WAL shares were sold and at what price?

The filing shows dispositions of 97 shares and 69 shares at a price of $78.84 per share.

What are the officer's WAL share holdings after the transactions?

Direct holdings were 63,202 shares after the reported transactions, with 325 shares held indirectly through a spouse.

What role does the reporting person hold at WAL?

The reporting person is an officer, serving as Chief Administration Officer.

How do the WAL restricted stock units vest?

The units vest monthly: 1/36th on the 15th day. One grant vests from March 2024–February 2027; another from March 2025–February 2028.

Are the reported RSUs settled in stock or cash?

They are cash-settled restricted stock units; each unit is the economic equivalent of one share of common stock.