Western Alliance CRO settles 189 stock units
Western Alliance’s Chief Risk Officer settled 189 cash-settled RSUs tied to WAL stock with no net share position change.
Rhea-AI Filing Summary
WESTERN ALLIANCE BANCORPORATION (WAL) reported that Chief Risk Officer Emily Nachlas exercised cash settled restricted stock units on September 15, 2026, converting 189 units that are each the economic equivalent of one share of common stock. The same number of common shares were acquired at $0.00 per share through derivative exercises and then returned to the issuer in dispositions priced at $79.03 per share, resulting in no net change in share count. The units vest monthly over 36-month schedules payable solely in cash.
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Insider Trade Summary
189 shares exercised/converted
Exercise
9 txns
Insider
Nachlas Emily
Role
Chief Risk Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Cash Settled Restricted Stock Units F2, F1 | 72 | -- | -- |
| Exercise | Cash Settled Restricted Stock Units F2, F3 | 53 | -- | -- |
| Exercise | Cash Settled Restricted Stock Units F2, F4 | 64 | -- | -- |
| Exercise | Common Stock F1, F2 | 72 | $0.00 | $0.00 |
| Disposition | Common Stock | 72 | $79.03 | $6K |
| Exercise | Common Stock F3, F2 | 53 | $0.00 | $0.00 |
| Disposition | Common Stock | 53 | $79.03 | $4K |
| Exercise | Common Stock F4, F2 | 64 | $0.00 | $0.00 |
| Disposition | Common Stock | 64 | $79.03 | $5K |
Holdings After Transaction:
Cash Settled Restricted Stock Units — 3,110 contracts (Direct);
Common Stock — 16,575 shares (Direct)
Footnotes (4)
- F1. 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.
- F2. Each unit is the economic equivalent of one share of Western Alliance Bancorporation common stock.
- F3. 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.
- F4. 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 2026 and ending February 2029.
Key Figures
Derivative units exercised: 189 units
First RSU tranche: 72 units
Second RSU tranche: 53 units
+3 more
6 metrics
Derivative units exercised
189 units
Total cash settled restricted stock units exercised or converted on September 15, 2026
First RSU tranche
72 units
Cash settled restricted stock units tied to common stock exercised and disposed September 15, 2026
Second RSU tranche
53 units
Cash settled restricted stock units tied to common stock exercised and disposed September 15, 2026
Third RSU tranche
64 units
Cash settled restricted stock units tied to common stock exercised and disposed September 15, 2026
Disposition price
$79.03 per share
Price reported for dispositions of 72, 53, and 64 WAL common shares to the issuer
Vesting schedule length
36 months
Units vest and are payable solely in cash 1/36th monthly during each 36‑month period
Key Terms
Cash Settled Restricted Stock Units, economic equivalent, Disposition to issuer, Rule 10b5-1 plan
4 terms
Cash Settled Restricted Stock Units financial
"The security is described as Cash Settled Restricted Stock Units"
Cash-settled restricted stock units are employee compensation promises that mirror the value of company shares but pay out in cash instead of delivering actual stock once the units vest. Think of them as a future paycheck tied to the company’s share price that is paid after time or performance conditions are met. Investors watch them because they create future cash obligations for the company and avoid share dilution, both of which can affect earnings, cash flow and per-share metrics.
economic equivalent financial
"Each unit is the economic equivalent of one share of common stock"
Disposition to issuer financial
"Common Stock transaction code D with description Disposition to issuer"
Rule 10b5-1 plan regulatory
"The filing includes a Rule 10b5-1 checkbox indicating plan status"
A Rule 10b5-1 plan is a prearranged, written schedule that lets corporate insiders buy or sell company stock at set times or amounts, even if they later learn material nonpublic information. Think of it like setting an automatic thermostat for trades: it creates a clear record that trades were planned in advance, reducing the risk of insider-trading accusations and helping investors trust that insider transactions are routine rather than based on secret information.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transactions did WAL’s Chief Risk Officer report on September 15, 2026?
The Chief Risk Officer reported exercising 189 cash settled restricted stock units into common stock and then returning 189 shares to the issuer in dispositions, resulting in no net change in share count.
How many WAL-linked units did Emily Nachlas exercise in this Form 4?
Emily Nachlas exercised 189 cash settled restricted stock units, consisting of tranches of 72, 53, and 64 units, each economically equivalent to one share of Western Alliance Bancorporation common stock.
What price is shown for the WAL common stock dispositions in this filing?
The dispositions to the issuer of WAL common stock are reported at $79.03 per share for tranches of 72, 53, and 64 shares, corresponding to settlement of the exercised cash settled restricted stock units.
Did the WAL Form 4 indicate trading under a Rule 10b5-1 plan?
No. The filing’s Rule 10b5-1 checkbox is not marked as affirming a plan, and there is no footnote stating that these transactions were made pursuant to a Rule 10b5-1 trading arrangement.
How do the cash settled restricted stock units for WAL vest for the Chief Risk Officer?
The filing states that these units vest and are payable solely in cash, 1/36th on the 15th of each month over separate 36-month periods beginning in March 2024, March 2025, and March 2026, each ending three years later.
AI-generated analysis. How Rhea-AI works. Not financial advice.
