Western Alliance CEO settles cash RSUs with issuer

Western Alliance Bancorporation President and CEO Kenneth Vecchione reported routine compensation-related transactions involving cash-settled restricted stock units tied to the company’s common stock on May 15, 2026.

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Rhea-AI Filing Summary

Western Alliance Bancorporation President and CEO Kenneth Vecchione reported routine compensation-related transactions involving cash-settled restricted stock units tied to the company’s common stock on May 15, 2026. He exercised derivative awards covering a total of 1,571 units that are each the economic equivalent of one share of common stock, and simultaneously disposed of the same 1,571 common shares back to the issuer at $74.42 per share, resulting in no net change in his direct share count.

Following these transactions, Vecchione directly held 463,178 shares of common stock and indirectly held 750 shares in a UTMA account for his daughter and 1,950 shares in a 401K Plan that includes employer match as of May 14, 2026. He also retained remaining balances of cash-settled restricted stock units that vest monthly through periods ending between February 2027 and February 2029, all payable solely in cash.

Insider Trade Summary

1,571 shares exercised/converted

Exercise 11 txns

Insider Vecchione Kenneth

Role President and CEO

Type	Security	Shares	Price	Value
Exercise	Cash Settled Restricted Stock Units	539	$0.00	$0.00
Exercise	Cash Settled Restricted Stock Units	437	$0.00	$0.00
Exercise	Cash Settled Restricted Stock Units	595	$0.00	$0.00
Exercise	Common Stock	539	$0.00	$0.00
Disposition	Common Stock	539	$74.42	$40K
Exercise	Common Stock	437	$0.00	$0.00
Disposition	Common Stock	437	$74.42	$33K
Exercise	Common Stock	595	$0.00	$0.00
Disposition	Common Stock	595	$74.42	$44K
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Cash Settled Restricted Stock Units — 33,651 contracts (Direct); Common Stock — 463,178 shares (Direct); Common Stock — 1,950 shares (Indirect, 401K Plan); Common Stock — 750 shares (Indirect, Darcy Vecchione UTMA (daughter))

Footnotes (5)

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.
F5. Reflects shares held in the 401K Plan to include employer match as of 5/14/2026.

Key Figures

Common shares disposed to issuer: 1,571 shares Disposition price: $74.42 per share Direct common stock holdings: 463,178 shares +5 more

8 metrics

Common shares disposed to issuer 1,571 shares Returned to issuer at $74.42 per share on May 15, 2026

Disposition price $74.42 per share Price for 1,571 common shares disposed to issuer

Direct common stock holdings 463,178 shares Shares directly held by CEO after May 15, 2026 transactions

Indirect 401K holdings 1,950 shares Common shares held in 401K Plan including employer match as of May 14, 2026

Indirect UTMA holdings 750 shares Common shares held in UTMA account for daughter

Cash-settled RSU vesting period 1 36 months Vests monthly from March 2024 through February 2027, payable solely in cash

Cash-settled RSU vesting period 2 36 months Vests monthly from March 2025 through February 2028, payable solely in cash

Cash-settled RSU vesting period 3 36 months Vests monthly from March 2026 through February 2029, payable solely in cash

Key Terms

Cash Settled Restricted Stock Units, Disposition to issuer, economic equivalent of one share, 401K Plan, +2 more

6 terms

Cash Settled Restricted Stock Units financial

"security_title: "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.

Disposition to issuer financial

"transaction_code_description: "Disposition to issuer""

401K Plan financial

"nature_of_ownership: "401K Plan""

A 401(k) plan is an employer-sponsored retirement savings account that lets workers set aside part of their paycheck into investments, often with tax breaks and sometimes with matching contributions from the employer. Think of it as a workplace piggy bank that grows through employee contributions, optional company top-ups, and market returns; it matters to investors because it shapes household retirement security, drives large flows of money into public markets, and affects a company’s compensation costs and ability to attract and keep talent.

UTMA financial

"nature_of_ownership: "Darcy Vecchione UTMA (daughter)""

vest and are payable solely in cash financial

"These units vest and are payable solely in cash as follows: 1/36th on the 15th day of each month..."

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transactions did WAL CEO Kenneth Vecchione report on May 15, 2026?

Kenneth Vecchione reported exercising 1,571 cash-settled restricted stock units and disposing of the same 1,571 common shares back to Western Alliance at $74.42 per share, a compensation-related settlement that left his overall direct share count unchanged at 463,178.

Did the WAL CEO sell Western Alliance stock on the open market in this Form 4?

No open-market sales were reported. The Form 4 shows dispositions coded “D,” meaning 1,571 common shares were returned to the issuer at $74.42 per share in connection with exercises of cash-settled restricted stock units, rather than sold through market transactions.

How many Western Alliance shares does the WAL CEO hold after these transactions?

After the reported transactions, Kenneth Vecchione directly held 463,178 shares of Western Alliance common stock. He also indirectly held 750 shares in a UTMA account for his daughter and 1,950 shares in a 401K Plan that includes employer matching contributions as of May 14, 2026.

What are the terms of the WAL CEO’s cash-settled restricted stock units?

The cash-settled restricted stock units are payable solely in cash and vest monthly, with 1/36th of each grant vesting on the 15th day of each month over 36 months. The schedules run from March 2024 to February 2027, March 2025 to February 2028, and March 2026 to February 2029.

How do the WAL CEO’s cash-settled units relate to Western Alliance common stock?

Each cash-settled restricted stock unit is the economic equivalent of one share of Western Alliance common stock. While they track the value of the stock, the units are settled in cash rather than delivering actual shares when they vest and are paid.

What indirect holdings of Western Alliance stock does the WAL CEO report?

Kenneth Vecchione reports indirect ownership of 750 Western Alliance common shares held in a UTMA account for his daughter and 1,950 shares held in a 401K Plan. The 401K balance, including employer match, is stated as of May 14, 2026 in the filing’s footnotes.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Form 4 Insider Transactions: What Each Field Means →

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Accepted by SEC EDGAR 05/19/2026 - 04:05 PM

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^*

Vecchione Kenneth

(Last)

(First)

(Middle)

C/O WESTERN ALLIANCE BANCORPORATION

ONE E. WASHINGTON STREET, STE 1400

(Street)

PHOENIX

ARIZONA

85004

(City)

(State)

(Zip)

UNITED STATES

(Country)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/15/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	05/15/2026		M		539⁽¹⁾	A	$0⁽²⁾	463,717	D
Common Stock	05/15/2026		D		539	D	$74.42	463,178	D
Common Stock	05/15/2026		M		437⁽³⁾	A	$0⁽²⁾	463,615	D
Common Stock	05/15/2026		D		437	D	$74.42	463,178	D
Common Stock	05/15/2026		M		595⁽⁴⁾	A	$0⁽²⁾	463,773	D
Common Stock	05/15/2026		D		595	D	$74.42	463,178	D
Common Stock								1,950⁽⁵⁾	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Cash Settled Restricted Stock Units	⁽²⁾	05/15/2026		M			539	⁽¹⁾	⁽¹⁾	Common Stock	539	⁽²⁾	4,863	D
Cash Settled Restricted Stock Units	⁽²⁾	05/15/2026		M			437	⁽³⁾	⁽³⁾	Common Stock	437	⁽²⁾	9,171	D
Cash Settled Restricted Stock Units	⁽²⁾	05/15/2026		M			595	⁽⁴⁾	⁽⁴⁾	Common Stock	595	⁽²⁾	19,617	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. 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.

5. Reflects shares held in the 401K Plan to include employer match as of 5/14/2026.

Remarks:

	/s/Jessica Jarvi (Attorney-in-fact)	05/19/2026
	** 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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR