Insider Dale Gibbons (NYSE: WAL) converts RSUs and sells stock

Rhea-AI Filing Summary

Western Alliance Bancorporation executive Dale Gibbons reported routine equity transactions. On January 15, 2026, the Vice Chair and CBO, Deposits converted 285 and 212 cash settled restricted stock units, each unit being the economic equivalent of one share of Western Alliance common stock, at an exercise price of $0.

On the same date, he disposed of matching amounts of common stock, selling 285 and 212 shares at a price of $89.83 per share. Following these transactions, he directly beneficially owned 300,358 shares of common stock, and an additional 612 shares were held indirectly through a 401(k) plan, which includes employer matching contributions as of January 8, 2026. The cash settled units vest monthly over 36-month periods beginning in March 2024 and March 2025, 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

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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^*

GIBBONS DALE

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Vice Chair and CBO, Deposits

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		285(1)	A	$0(2)	300,643	D
Common Stock	01/15/2026		D		285	D	$89.83	300,358	D
Common Stock	01/15/2026		M		212(3)	A	$0(2)	300,570	D
Common Stock	01/15/2026		D		212	D	$89.83	300,358	D
Common Stock								612(4)	I	401K Plan

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			285	(1)	(1)	Common Stock	285	(2)	3,697	D
Cash Settled Restricted Stock Units	(2)	01/15/2026		M			212	(3)	(3)	Common Stock	212	(2)	5,283	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.
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FAQ

What insider activity did WAL executive Dale Gibbons report on this Form 4?

Vice Chair and CBO, Deposits Dale Gibbons reported converting cash settled restricted stock units into the economic equivalent of Western Alliance common stock and selling matching amounts of common shares on January 15, 2026.

How many Western Alliance (WAL) shares did Dale Gibbons sell and at what price?

On January 15, 2026, Dale Gibbons sold 285 shares and 212 shares of Western Alliance common stock, both at a price of $89.83 per share.

How many Western Alliance shares does Dale Gibbons own after these transactions?

After the reported transactions, Dale Gibbons beneficially owned 300,358 shares of Western Alliance common stock directly and 612 additional shares indirectly through a 401(k) plan.

What are the terms of the cash settled restricted stock units reported by Dale Gibbons at WAL?

The cash settled restricted stock units are payable solely in cash and are each the economic equivalent of one share of Western Alliance common stock. One grant vests 1/36th each month from March 2024 to February 2027, and another vests 1/36th each month from March 2025 to February 2028.

Were the RSU conversions reported by Dale Gibbons at an exercise price?

Yes. The conversions of 285 and 212 cash settled restricted stock units on January 15, 2026 were reported with an exercise price of $0 per unit.

How are the 401(k) plan holdings for Dale Gibbons at Western Alliance described?

The Form 4 notes that 612 shares are held indirectly in a 401(k) plan, and this amount reflects shares held in the plan including employer match as of January 8, 2026.