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Western Alliance (NYSE: WAL) officer reports stock grants and tax share disposals

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Western Alliance Bancorporation Chief Banking Officer – NBL Stephen Russell Curley reported multiple equity-related transactions dated February 15, 2026. He acquired cash settled restricted stock units (165 and 129 units), each economically equivalent to one common share, which vest monthly over 36 months and are payable solely in cash. He also received a grant of 3,665 shares of common stock. To cover tax obligations, 1,314 shares were disposed of at $93.20 per share, and additional small blocks of 165 and 129 shares were disposed of to the issuer at the same price following derivative exercises. After these transactions, he directly held 41,531 shares of common stock.

Positive

  • None.

Negative

  • None.

Insights

Routine stock awards and tax-related share disposals, overall neutral.

Stephen Russell Curley, a senior officer of Western Alliance Bancorporation, reported equity compensation activity combining derivative exercises, stock grants, and tax-related dispositions on February 15, 2026. The mix of awards and withholdings is typical of incentive plans.

The filing shows grants of 3,665 common shares and exercises of cash settled restricted stock units economically equivalent to common stock. Offsetting this, 1,314 shares were withheld at $93.20, and additional small blocks were disposed of to the issuer, both tied to tax and plan mechanics rather than open-market selling.

Cash settled units vest monthly over 36-month periods ending on February 2027 and February 2028, indicating an ongoing stream of compensation. Subsequent company filings may provide further detail on future vesting events and any additional tax-withholding dispositions linked to these awards.

Insider Curley Stephen Russell
Role Chief Banking Ofc.-NBL
Type Security Shares Price Value
Exercise Cash Settled Restricted Stock Units 165 $0.00 --
Exercise Cash Settled Restricted Stock Units 129 $0.00 --
Grant/Award Common Stock 3,665 $0.00 --
Tax Withholding Common Stock 1,314 $93.20 $122K
Exercise Common Stock 165 $0.00 --
Disposition Common Stock 165 $93.20 $15K
Exercise Common Stock 129 $0.00 --
Disposition Common Stock 129 $93.20 $12K
Holdings After Transaction: Cash Settled Restricted Stock Units — 1,994 shares (Direct); Common Stock — 42,845 shares (Direct)
Footnotes (1)
  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 →
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*
Curley Stephen Russell
(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)
Chief Banking Ofc.-NBL
3. Date of Earliest Transaction (Month/Day/Year)
02/15/2026
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 02/15/2026 A 3,665 A $0 42,845 D
Common Stock 02/15/2026 F 1,314 D $93.2 41,531 D
Common Stock 02/15/2026 M 165(1) A $0(2) 41,696 D
Common Stock 02/15/2026 D 165 D $93.2 41,531 D
Common Stock 02/15/2026 M 129(3) A $0(2) 41,660 D
Common Stock 02/15/2026 D 129 D $93.2 41,531 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) 02/15/2026 M 165 (1) (1) Common Stock 165 (2) 1,994 D
Cash Settled Restricted Stock Units (2) 02/15/2026 M 129 (3) (3) Common Stock 129 (2) 3,087 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) 02/18/2026
** 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.

Source: View Original Filing on SEC EDGAR

FAQ

What insider transactions did Stephen Russell Curley report for WAL?

Stephen Russell Curley reported equity compensation activity, including exercising cash settled restricted stock units, receiving 3,665 shares of Western Alliance common stock, and disposing of shares to cover taxes and issuer-related settlements, all dated February 15, 2026, under the company’s equity compensation arrangements.

How many Western Alliance (WAL) shares did Curley acquire and dispose of?

Curley received a grant of 3,665 Western Alliance common shares and acquired additional shares through derivative exercises. He disposed of 1,314 shares at $93.20 for tax withholding, plus 165 and 129 shares to the issuer at the same price, leaving 41,531 shares directly owned.

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

The reported cash settled restricted stock units are awards payable solely in cash, vesting monthly over 36 months. Each unit is the economic equivalent of one share of Western Alliance common stock, giving Curley stock-linked value without issuing actual shares upon vesting and payment.

What is the vesting schedule for Curley’s Western Alliance cash settled RSUs?

One block of cash settled RSUs vests 1/36th each month from March 2024 through February 2027. Another block vests 1/36th monthly from March 2025 through February 2028, creating a steady stream of cash-settled, stock-based compensation tied to Western Alliance’s share value.

Did Curley’s Form 4 for WAL show open-market stock sales?

The Form 4 shows tax-withholding and issuer dispositions, not open-market sales. Shares were delivered at $93.20 per share to cover tax liabilities and issuer-related settlements tied to equity awards and derivative exercises, rather than discretionary selling on the open market.

How many Western Alliance (WAL) shares does Curley own after these transactions?

After the reported transactions, Curley directly owns 41,531 shares of Western Alliance common stock. This figure reflects his holdings following derivative exercises, grants of 3,665 shares, and tax- and issuer-related share dispositions recorded on February 15, 2026.