Western Alliance (NYSE: WAL) CEO converts cash RSUs and sells shares

Rhea-AI Filing Summary

Western Alliance Bancorporation President and CEO Kenneth Vecchione, who is also a director, reported multiple transactions dated January 15, 2026. He converted 539 and 437 cash-settled restricted stock units, each with an exercise price of $0, into common stock that is economically equivalent to Western Alliance shares. On the same date, he disposed of 539 and 437 shares of common stock at a price of $89.83 per share. After these transactions, he directly owned 447,611 shares of common stock, with additional indirect holdings of 1,950 shares in a 401(k) plan and 750 shares in a UTMA account for his daughter.

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^*

Vecchione Kenneth

(Last) (First) (Middle)

C/O WESTERN ALLIANCE BANCORPORATION

ONE E. WASHINGTON STREET, STE 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)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	President and CEO

3. Date of Earliest Transaction (Month/Day/Year)
01/15/2026

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	01/15/2026		M		539(1)	A	$0(2)	448,150	D
Common Stock	01/15/2026		D		539	D	$89.83	447,611	D
Common Stock	01/15/2026		M		437(3)	A	$0(2)	448,048	D
Common Stock	01/15/2026		D		437	D	$89.83	447,611	D
Common Stock								1,950(4)	I	401K Plan
Common Stock								750	I	Darcy Vecchione UTMA (daughter)

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)	01/15/2026		M			539	(1)	(1)	Common Stock	539	(2)	7,019	D
Cash Settled Restricted Stock Units	(2)	01/15/2026		M			437	(3)	(3)	Common Stock	437	(2)	10,919	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. Reflects shares held in the 401K Plan to include employer match as of 1/8/2026.

Remarks:

	/s/Jessica Jarvi (Attorney-in-fact)	01/20/2026
	** 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.

FAQ

Who is the insider in Western Alliance Bancorporation (WAL) Form 4?

The Form 4 identifies Kenneth Vecchione as the reporting person. He is a director and serves as President and CEO of Western Alliance Bancorporation.

What stock transactions did Kenneth Vecchione report for Western Alliance (WAL) on January 15, 2026?

On January 15, 2026, he reported the acquisition of 539 and 437 shares of common stock through transaction code M at an exercise price of $0, and the disposition of 539 and 437 shares of common stock at $89.83 per share through transaction code D.

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

The filing lists cash-settled restricted stock units that are each the economic equivalent of one share of Western Alliance common stock. Footnotes state these units vest and are payable solely in cash in 1/36th monthly installments over 36-month periods beginning March 2024 and March 2025, ending in February 2027 and February 2028, respectively.

How many Western Alliance (WAL) shares does Kenneth Vecchione own after the reported transactions?

Following the reported transactions, he directly beneficially owned 447,611 shares of Western Alliance common stock. He also had indirect holdings of 1,950 shares in a 401(k) plan and 750 shares in a UTMA account for his daughter.

At what price did the Western Alliance (WAL) CEO sell shares in this Form 4?

The disposition transactions reported with code D show sales of Western Alliance common stock at a price of $89.83 per share.

What do the vesting footnotes in the Western Alliance (WAL) Form 4 explain?

The footnotes explain that the reported units vest and are payable solely in cash, with 1/36th of the units vesting on the 15th day of each month over 36 months, and that each unit is the economic equivalent of one share of Western Alliance common stock.