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Western Alliance (NYSE: WAL) CBO discloses small Form 4 stock sale

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

Rhea-AI Filing Summary

Western Alliance Bancorporation’s CBO for Regional Banking, Tim R. Bruckner, reported multiple equity transactions dated January 15, 2026. Cash-settled restricted stock units economically equivalent to 158 and 115 shares of common stock were converted at an exercise price of $0, and matching amounts of common stock were then disposed of at $89.83 per share.

Following these trades, Bruckner directly held 24,759 shares of common stock. He also held 2,061 and 2,873 cash-settled restricted stock units, which vest monthly in 36 equal installments between March 2024 and February 2027, and between March 2025 and February 2028, respectively.

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Insider Bruckner Tim R
Role CBO for Regional Banking
Type Security Shares Price Value
Exercise Cash Settled Restricted Stock Units 158 $0.00 --
Exercise Cash Settled Restricted Stock Units 115 $0.00 --
Exercise Common Stock 158 $0.00 --
Disposition Common Stock 158 $89.83 $14K
Exercise Common Stock 115 $0.00 --
Disposition Common Stock 115 $89.83 $10K
Holdings After Transaction: Cash Settled Restricted Stock Units — 2,061 shares (Direct); Common Stock — 24,917 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*
Bruckner Tim R
(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)
CBO for Regional Banking
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 158(1) A $0(2) 24,917 D
Common Stock 01/15/2026 D 158 D $89.83 24,759 D
Common Stock 01/15/2026 M 115(3) A $0(2) 24,874 D
Common Stock 01/15/2026 D 115 D $89.83 24,759 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) 01/15/2026 M 158 (1) (1) Common Stock 158 (2) 2,061 D
Cash Settled Restricted Stock Units (2) 01/15/2026 M 115 (3) (3) Common Stock 115 (2) 2,873 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) 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.
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 activity did WAL CBO Tim R. Bruckner report on this Form 4?

Tim R. Bruckner reported conversions of cash-settled restricted stock units into common stock and matching sales of 158 and 115 Western Alliance Bancorporation shares on January 15, 2026.

At what price were Western Alliance (WAL) shares sold in this Form 4?

The reported common stock sales were executed at $89.83 per share.

How many Western Alliance (WAL) shares did Tim R. Bruckner hold after the reported transactions?

After the reported transactions, Tim R. Bruckner directly held 24,759 shares of Western Alliance Bancorporation common stock.

What derivative securities are disclosed for Tim R. Bruckner in this WAL Form 4?

The filing lists cash-settled restricted stock units economically equivalent to Western Alliance common stock, with 2,061 and 2,873 units remaining beneficially owned after the transactions.

How do the cash-settled restricted stock units for WAL vest according to the filing?

One grant vests 1/36th monthly from March 2024 through February 2027, and another vests 1/36th monthly from March 2025 through February 2028, payable solely in cash.

What is the economic relationship between the units and WAL common stock?

Each cash-settled restricted stock unit is described as the economic equivalent of one share of Western Alliance Bancorporation common stock.