[Form 4] WESTERN ALLIANCE BANCORPORATION Insider Trading Activity

Rhea-AI Filing Summary

Kenneth Vecchione, President and CEO and a director of Western Alliance Bancorporation (WAL), reported multiple transactions in the issuer's common stock on 09/15/2025. The report shows cash-settled restricted stock units vesting and being recorded as economic equivalents of shares, routine purchases via vesting, and corresponding disposals at a reported price of $89.05 per share.

Following the reported activity, Vecchione beneficially owns 447,611 shares directly, plus additional indirect holdings including 1,950 shares in a 401(k) and 750 held in a UTMA for his daughter; cash-settled RSUs recorded total 9,175 and 12,667 underlying-share equivalents in Box II. The filing notes scheduled monthly cash vesting for two RSU tranches through February 2027 and February 2028.

Insights

Financial Analyst

TL;DR Insider completed routine RSU vesting with modest share disposals, leaving substantial direct ownership near 448k shares.

The activity appears procedural: two series of cash-settled restricted stock units are vesting monthly, producing economic equivalents of common shares that were recorded as acquisitions and, in some instances, matched by disposals at $89.05. The net beneficial ownership remains materially large at 447,611 shares direct plus retirement and UTMA holdings, indicating continued insider stake alignment with shareholders. No exercises or new option grants are reported; transactions are described as cash-settled RSUs and ordinary sales.

Corporate Governance Expert

TL;DR Transactions are consistent with routine executive compensation vesting and scheduled liquidity, not a governance red flag.

The form documents standard compensation mechanics: two RSU tranches vesting monthly from March 2024 and March 2025 respectively, each payable solely in cash and each unit equivalent to one share. The report also discloses incremental transfers out of ownership (sales) at a stated price, and indirect holdings including a 401(k) and UTMA for a family member. Reporting appears complete with vesting schedules disclosed; no indications of unusual clustering or undisclosed related-party arrangements are present in the filing text provided.

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^*

Vecchione Kenneth

(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)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	President and CEO

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		539(1)	A	$0(2)	448,150	D
Common Stock	09/15/2025		D		539	D	$89.05	447,611	D
Common Stock	09/15/2025		M		437(3)	A	$0(2)	448,048	D
Common Stock	09/15/2025		D		437	D	$89.05	447,611	D
Common Stock								1,950(4)	I	401K Plan
Common Stock								750	I	Darcy Vecchione UTMA (daughter)

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			539	(1)	(1)	Common Stock	539	(2)	9,175	D
Cash Settled Restricted Stock Units	(2)	09/15/2025		M			437	(3)	(3)	Common Stock	437	(2)	12,667	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 09/04/2025.

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).
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