[Form 4] WESTERN ALLIANCE BANCORPORATION Insider Trading Activity

Rhea-AI Filing Summary

Timothy W. Boothe, Chief Administration Officer of Western Alliance Bancorporation (WAL), reported changes in his beneficial ownership on 09/15/2025. The Form 4 shows a series of share acquisitions and dispositions and the vesting and cash-settlement of restricted stock units. After reported transactions, Mr. Boothe beneficially owned 63,202 shares of common stock, with an indirect interest of 325 shares held by his spouse, Alvina Boothe. The filing discloses cash-settled restricted stock units that vest monthly over 36-month schedules beginning March 2024 and March 2025, and two dispositions at $89.05 per share on 09/15/2025.

Positive

• Transparent disclosure of multiple transactions and precise vesting schedules for cash-settled restricted stock units
• Post-transaction beneficial ownership is explicitly stated as 63,202 shares, clarifying current holdings

Negative

• Two dispositions of common stock at $89.05 reduced holdings, indicating share sales on 09/15/2025
• Materiality limits: filing does not state total percentage ownership of the company, limiting context for investors

Insights

Securities Compliance Analyst

TL;DR: Form 4 reports routine officer vesting and market sales, with cash-settled RSUs and small spousal indirect holdings.

The filing documents multiple events on 09/15/2025: cash-settled restricted stock units vesting under two schedules and two share dispositions at $89.05 each that reduce beneficial ownership to 63,202 shares. The report identifies an indirect holding of 325 shares by the reporting person’s spouse. All transactions are consistent with equity compensation vesting and reported market sales; the form is signed by an attorney-in-fact.

Corporate Governance Expert

TL;DR: Officer equity activity reflects compensation realization via cash-settled RSUs and small open-market share sales.

The disclosure specifies two cash-settled RSU grants with monthly vesting over 36 months (one beginning March 2024, one beginning March 2025) and shows vesting-related acquisitions recorded as 'M' codes and two dispositions at $89.05. Indirect spouse ownership of 325 shares is noted. The report provides clear vesting schedules and transaction prices without additional qualifiers.

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
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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^*

Boothe Timothy W

(Last) (First) (Middle)

ONE E. WASHINGTON ST., 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)
	Chief Administration Officer

3. Date of Earliest Transaction (Month/Day/Year)
09/15/2025

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	09/15/2025		M		97(1)	A	$0(2)	63,299	D
Common Stock	09/15/2025		D		97	D	$89.05	63,202	D
Common Stock	09/15/2025		M		69(3)	A	$0(2)	63,271	D
Common Stock	09/15/2025		D		69	D	$89.05	63,202	D
Common Stock								325	I	Alvina Boothe (spouse)

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)	09/15/2025		M			97	(1)	(1)	Common Stock	97	(2)	1,652	D
Cash Settled Restricted Stock Units	(2)	09/15/2025		M			69	(3)	(3)	Common Stock	69	(2)	2,000	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)	09/17/2025
	** 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 Timothy W. Boothe report on Form 4 for WAL on 09/15/2025?

He reported acquisitions tied to cash-settled restricted stock units and two dispositions of common stock at $89.05 per share on 09/15/2025.

How many shares did Timothy W. Boothe beneficially own after the reported transactions?

He beneficially owned 63,202 shares following the reported transactions.

Does the Form 4 show any indirect holdings for the reporting person?

Yes. The filing shows an indirect beneficial ownership of 325 shares by his spouse, Alvina Boothe.

What are the vesting schedules for the restricted stock units reported?

One RSU grant vests 1/36th monthly from March 2024 to February 2027; the other vests 1/36th monthly from March 2025 to February 2028.

Were the restricted stock units settled in stock or cash?

The units are cash-settled and are described as the economic equivalent of one share each.