[Form 4] Western Alliance Bancorporation Insider Trading Activity

Rhea-AI Filing Summary

Jessica H. Jarvi, Chief Legal Officer & Secretary of Western Alliance Bancorporation (WAL) reported a series of non-derivative and derivative transactions in company common stock on 08/15/2025. The report shows multiple acquisitions from cash-settled restricted stock units that vest monthly and are paid in cash: 58 units (economic equivalent to shares) from a grant vesting March 2024–February 2027 and 46 units from a grant vesting March 2025–February 2028. Concurrently, Jarvi sold shares at $82.55 per share, reducing direct beneficial ownership to 12,457 shares. She also holds 2,074 shares indirectly in the WAL 401(k) and reported 1,027 and 1,379 units from the cash-settled RSU grants as derivative holdings.

Positive

• Vesting-based Compensation: Cash-settled restricted stock units vest monthly, demonstrating predictable, structured executive compensation
• 401(k) Participation: Indirect holding of 2,074 shares in the WAL 401(k) indicates personal investment in the company

Negative

• Open-market Sales: Disposals executed at $82.55 reduced direct beneficial ownership to 12,457 shares

Insights

Securities Analyst

TL;DR: Routine executive vesting and modest open-market sales; transactions appear administrative rather than strategic.

The filings document monthly-vesting, cash-settled restricted stock units and small open-market disposals at $82.55 per share. The vesting schedules (1/36th monthly) span March 2024–February 2027 and March 2025–February 2028, indicating structured compensation rather than one-time grants. The direct holdings after reported transactions are 12,457 shares with an additional 2,074 shares held indirectly in the 401(k). From an investor-impact perspective, these are typical insider compensation and liquidity events and do not, by themselves, signal material corporate change.

Corporate Governance Expert

TL;DR: Transactions reflect standard executive compensation vesting and compliance with Section 16 reporting.

The report separates vesting-derived acquisitions (cash-settled RSUs) from open-market disposals. The explanation clarifies that each unit equals the economic equivalent of one share and that vesting occurs monthly over 36 months for each grant. Disclosure of 401(k) holdings shows additional indirect ownership. These elements align with standard governance practices for executive remuneration and do not indicate unusual insider activity.

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^*

Jarvi Jessica H

(Last) (First) (Middle)

1 E. WASHINGTON STREET

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)
	CLO & Secretary

3. Date of Earliest Transaction (Month/Day/Year)
08/15/2025

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	08/15/2025		M		58(1)	A	$0(2)	12,515	D
Common Stock	08/15/2025		D		58	D	$82.55	12,457	D
Common Stock	08/15/2025		M		46(3)	A	$0(2)	12,503	D
Common Stock	08/15/2025		D		46	D	$82.55	12,457	D
Common Stock								2,074(4)	I	WAL 401(k)

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)	08/15/2025		M			58	(1)	(1)	Common Stock	58	(2)	1,027	D
Cash Settled Restricted Stock Units	(2)	08/15/2025		M			46	(3)	(3)	Common Stock	46	(2)	1,379	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 08/07/2025.

Remarks:

	Jessica H. Jarvi	08/18/2025
	** 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 transactions did Jessica H. Jarvi report on WAL Form 4?

She reported acquisitions from cash-settled restricted stock units (58 and 46 units) and open-market disposals at $82.55 per share, resulting in 12,457 direct shares owned.

How do Jarvi's restricted stock units vest?

The RSU grants vest monthly at 1/36th on the 15th day of each month: one grant from March 2024–February 2027 and another from March 2025–February 2028.

How many WAL shares does Jarvi indirectly hold in the 401(k)?

The filing reports 2,074 shares held indirectly in the WAL 401(k) plan, including employer match as of 08/07/2025.

What is the economic equivalence of each reported unit?

Each cash-settled unit is stated as the economic equivalent of one share of Western Alliance Bancorporation common stock.

Do these transactions indicate a material change in ownership?

Based on the filing, these are routine vesting and modest sales; the report does not show a material change in control or large-scale disposition.