Western Alliance Bancorporation (WAL) discloses insider sales at $86.18

Q: How many Western Alliance Bancorporation shares does the reporting officer own after these transactions?

Following the reported trades, the officer directly owned 8,753 shares of Western Alliance Bancorporation common stock and had indirect ownership of 22,797 shares held through the Kennedy Family Trust.

Q: What role does the reporting person hold at Western Alliance Bancorporation?

The reporting person is identified as an officer of Western Alliance Bancorporation, serving as the company’s Chief Human Resources Officer .

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Western Alliance Bancorporation disclosed insider activity by its Chief Human Resources Officer involving company common stock and cash-settled restricted stock units on 12/15/2025. The officer acquired 101 and 74 shares of common stock in transactions coded “M” at an exercise price of $0 per share, and on the same day disposed of 101 and 74 shares in sales coded “D” at $86.18 per share.

After these trades, the officer directly held 8,753 Western Alliance common shares and had indirect ownership of 22,797 shares through the Kennedy Family Trust. The filing also lists cash-settled restricted stock units that are economically equivalent to common shares, with 1,402 units from a grant vesting monthly from March 2024 to February 2027 and 1,909 units from a grant vesting monthly from March 2025 to February 2028 remaining beneficially owned.

Insider Trade Summary

175 shares exercised/converted

Mixed 7 txns

Insider Kennedy Barbara

Role Chief Human Resources Officer

Type	Security	Shares	Price	Value
Exercise	Cash Settled Restricted Stock Units	101	$0.00	--
Exercise	Cash Settled Restricted Stock Units	74	$0.00	--
Exercise	Common Stock	101	$0.00	--
Disposition	Common Stock	101	$86.18	$9K
Exercise	Common Stock	74	$0.00	--
Disposition	Common Stock	74	$86.18	$6K
holding	Common Stock	--	--	--

Holdings After Transaction: Cash Settled Restricted Stock Units — 1,402 shares (Direct); Common Stock — 8,854 shares (Direct); Common Stock — 22,797 shares (Indirect, Barbara and Ted Kennedy TTEE Kennedy Family Trust)

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.

Form 4 Insider Transactions: What Each Field Means →

12/16/2025 - 04:13 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^*

Kennedy Barbara

(Last)

(First)

(Middle)

ONE E. WASHINGTON ST., SUITE 1400

(Street)

PHOENIX

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 Human Resources 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)
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	12/15/2025		M		101⁽¹⁾	A	$0⁽²⁾	8,854	D
Common Stock	12/15/2025		D		101	D	$86.18	8,753	D
Common Stock	12/15/2025		M		74⁽³⁾	A	$0⁽²⁾	8,827	D
Common Stock	12/15/2025		D		74	D	$86.18	8,753	D
Common Stock								22,797	I	Barbara and Ted Kennedy TTEE Kennedy Family Trust

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⁾	12/15/2025		M			101	⁽¹⁾	⁽¹⁾	Common Stock	101	⁽²⁾	1,402	D
Cash Settled Restricted Stock Units	⁽²⁾	12/15/2025		M			74	⁽³⁾	⁽³⁾	Common Stock	74	⁽²⁾	1,909	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.

Source: View Original Filing on SEC EDGAR

FAQ

What insider transactions did Western Alliance Bancorporation (WAL) report on 12/15/2025?

The company reported that its Chief Human Resources Officer acquired 101 and 74 shares of common stock in transactions coded “M” at an exercise price of $0, and disposed of 101 and 74 shares in transactions coded “D” at a sale price of $86.18 per share.

How many Western Alliance Bancorporation shares does the reporting officer own after these transactions?

Following the reported trades, the officer directly owned 8,753 shares of Western Alliance Bancorporation common stock and had indirect ownership of 22,797 shares held through the Kennedy Family Trust.

What are the cash-settled restricted stock units mentioned for WAL and how do they vest?

The filing lists cash-settled restricted stock units that are payable solely in cash, each unit being the economic equivalent of one share of Western Alliance common stock. One grant vests in 1/36 monthly installments from March 2024 through February 2027, and another vests in 1/36 monthly installments from March 2025 through February 2028.

How many cash-settled restricted stock units does the Western Alliance officer hold after the transactions?

After the reported activity, the officer beneficially owned 1,402 cash-settled restricted stock units tied to the 2024–2027 vesting schedule and 1,909 units tied to the 2025–2028 schedule.

What do the transaction codes “M” and “D” mean in this Western Alliance Bancorporation Form 4?

In this report, code “M” indicates transactions involving the exercise or conversion of derivative securities into common stock, while code “D” indicates dispositions of common stock, which in this case occurred at a price of $86.18 per share.

What role does the reporting person hold at Western Alliance Bancorporation?

The reporting person is identified as an officer of Western Alliance Bancorporation, serving as the company’s Chief Human Resources Officer.