Western Alliance (WAL) insider details stock and RSU share transactions

Rhea-AI Filing Summary

Western Alliance Bancorporation reported insider transactions by its CBO for Regional Banking involving common stock and cash-settled restricted stock units on December 15, 2025.

The officer acquired 158 and 115 shares of common stock at a stated price of $0 per share through the vesting of cash-settled restricted stock units and sold the same share amounts at $86.18 per share. After these transactions, the officer directly owned 24,759 shares of common stock. The related cash-settled units vest 1/36th on the 15th day of each month from March 2024 to February 2027 and from March 2025 to February 2028, and are payable solely in cash, with each unit economically equivalent to one share of common stock.

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

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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^*

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)
12/15/2025

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	12/15/2025		M		158(1)	A	$0(2)	24,917	D
Common Stock	12/15/2025		D		158	D	$86.18	24,759	D
Common Stock	12/15/2025		M		115(3)	A	$0(2)	24,874	D
Common Stock	12/15/2025		D		115	D	$86.18	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)	12/15/2025		M			158	(1)	(1)	Common Stock	158	(2)	2,219	D
Cash Settled Restricted Stock Units	(2)	12/15/2025		M			115	(3)	(3)	Common Stock	115	(2)	2,988	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)	12/16/2025
	** 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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FAQ

What insider stock transactions did Western Alliance Bancorporation (WAL) report in this Form 4?

The filing shows the CBO for Regional Banking acquired 158 and 115 Western Alliance Bancorporation common shares at a stated price of $0 per share through cash-settled restricted stock unit vesting, and sold matching share amounts at $86.18 per share on December 15, 2025.

How many Western Alliance Bancorporation (WAL) shares does the officer own after these transactions?

Following the reported transactions, the officer directly owns 24,759 shares of Western Alliance Bancorporation common stock.

What derivative securities are involved in the Western Alliance Bancorporation (WAL) Form 4?

The transactions involve cash-settled restricted stock units, which are derivative securities economically equivalent to one share of Western Alliance Bancorporation common stock per unit.

How do the Western Alliance Bancorporation (WAL) cash-settled restricted stock units vest?

One grant of units vests and is payable solely in cash at 1/36th on the 15th of each month from March 2024 through February 2027, and another grant vests at 1/36th monthly from March 2025 through February 2028.

What was the sale price of the Western Alliance Bancorporation (WAL) shares in this insider transaction?

The common shares sold in the reported transactions were disposed of at a price of $86.18 per share.

Are the Western Alliance Bancorporation (WAL) restricted stock units settled in stock or cash?

The restricted stock units referenced in the report vest and are payable solely in cash, and each unit is described as the economic equivalent of one share of Western Alliance Bancorporation common stock.