WAL CFO exercises awards, offsets 123-share disposition

Western Alliance Bancorporation’s Chief Financial Officer, Vishal Idnani, reported a small, routine equity compensation transaction.

Rhea-AI Filing Summary

Western Alliance Bancorporation’s Chief Financial Officer, Vishal Idnani, reported a small, routine equity compensation transaction. On May 15, 2026, he exercised awards tied to 123 shares of common stock and had a matching disposition to the issuer for the same number of shares, resulting in no meaningful net change in his share count.

After these transactions, Idnani directly holds 11,468 shares of common stock. He also holds 4,043 cash-settled restricted stock units, each economically equivalent to one share of Western Alliance common stock. These units vest in equal monthly installments over 36 months from March 2026 through February 2029.

Insider Trade Summary

123 shares exercised/converted

Exercise 3 txns

Insider Idnani Vishal

Role Chief Financial Officer

Type	Security	Shares	Price	Value
Exercise	Cash Settled Restricted Stock Units	123	$0.00	$0.00
Exercise	Common Stock	123	$0.00	$0.00
Disposition	Common Stock	123	$74.42	$9K

Holdings After Transaction: Cash Settled Restricted Stock Units — 4,043 contracts (Direct); Common Stock — 11,468 shares (Direct)

Footnotes (2)

1. F1. 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.
2. F2. Each unit is the economic equivalent of one share of Western Alliance Bancorporation common stock.

Key Figures

Disposition to issuer: 123 shares at $74.42 Award exercise: 123 shares Common shares held: 11,468 shares +2 more

5 metrics

Disposition to issuer 123 shares at $74.42 Common stock returned to issuer on May 15, 2026

Award exercise 123 shares Exercise or conversion of derivative-linked common stock

Common shares held 11,468 shares Direct holdings after transactions on May 15, 2026

Cash-settled RSUs 4,043 units Units economically equivalent to common shares, held after transactions

RSU vesting schedule 1/36th monthly Vesting on 15th of each month from March 2026 to February 2029

Key Terms

Disposition to issuer, Cash Settled Restricted Stock Units, economic equivalent, Exercise or conversion of derivative security

4 terms

Disposition to issuer financial

"transaction_code_description: "Disposition to issuer""

Cash Settled Restricted Stock Units financial

"security_title: "Cash Settled Restricted Stock Units""

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.

economic equivalent financial

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

Exercise or conversion of derivative security financial

"transaction_code_description: "Exercise or conversion of derivative security""

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transactions did WAL CFO Vishal Idnani report on May 15, 2026?

Vishal Idnani reported exercising awards linked to 123 shares of Western Alliance common stock and a corresponding 123-share disposition to the issuer. This combination reflects a routine equity compensation event with no meaningful net change in his overall common share position.

How many Western Alliance (WAL) shares does the CFO hold after this Form 4?

Following the reported transactions, CFO Vishal Idnani directly holds 11,468 shares of Western Alliance common stock. The filing shows this total as of May 15, 2026, reflecting the net result of the exercise and disposition entries reported on that date.

What are the cash-settled restricted stock units reported by WAL’s CFO?

The CFO holds 4,043 cash-settled restricted stock units, each economically equivalent to one Western Alliance common share. These units are payable solely in cash, not stock, and track the company’s share value for compensation purposes, aligning executive pay with Western Alliance’s equity performance.

How do the WAL cash-settled RSUs held by the CFO vest over time?

The cash-settled restricted stock units vest in 36 equal monthly installments. Specifically, 1/36th of the award vests on the 15th of each month from March 2026 through February 2029, providing a steady, time-based compensation stream tied to Western Alliance’s stock value.

Did the WAL CFO’s Form 4 show open-market buying or selling of shares?

The Form 4 does not show open-market purchases or sales. Instead, it reports an exercise of derivative awards associated with 123 shares and a matching disposition of 123 shares to the issuer, reflecting internal equity compensation accounting rather than market trading activity.

What does “disposition to issuer” mean in the WAL CFO’s Form 4?

“Disposition to issuer” indicates 123 Western Alliance shares were returned to the company, not sold in the open market. This typically occurs in connection with equity awards, such as exercises or settlements, and reflects an internal share movement between the executive and the issuer.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/19/2026 - 04:05 PM Learn about SEC filing dates

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^*

Idnani Vishal

(Last) (First) (Middle)

C/O WESTERN ALLIANCE BANCORPORATION

1 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 Financial Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/15/2026

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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	05/15/2026		M		123(1)	A	$0(2)	11,591	D
Common Stock	05/15/2026		D		123	D	$74.42	11,468	D

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)	05/15/2026		M			123	(1)	(1)	Common Stock	123	(2)	4,043	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 2026 and ending February 2029.

2. Each unit is the economic equivalent of one share of Western Alliance Bancorporation common stock.

Remarks:

	/s/Jessica Jarvi (Attorney-in-fact)	05/19/2026
	** 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)