Western Alliance (WAL) credit chief logs common stock trade at $89.83

Rhea-AI Filing Summary

Western Alliance Bancorporation’s Chief Credit Officer, Lynne Herndon, reported equity-related activity on January 15, 2026. She exercised cash-settled restricted stock units that are economically equivalent to common shares and immediately used them to acquire and dispose of common stock on the same day.

The filing shows common stock transactions of 35 shares and 22 shares, each acquired at $0 per share through option-style exercises and then disposed of at $89.83 per share. After these trades, she directly owned 1,359 shares of Western Alliance common stock.

The derivative table shows cash-settled restricted stock units that vest and pay out solely in cash. One grant vests in equal monthly installments from March 2024 through February 2027, and another from March 2025 through February 2028, with remaining balances of 437 units and 552 units, respectively.

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
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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^*

Herndon Lynne

(Last) (First) (Middle)

1 E. WASHINGTON STREET

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)
	Chief Credit Officer

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		35(1)	A	$0(2)	1,394	D
Common Stock	01/15/2026		D		35	D	$89.83	1,359	D
Common Stock	01/15/2026		M		22(3)	A	$0(2)	1,381	D
Common Stock	01/15/2026		D		22	D	$89.83	1,359	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			35	(1)	(1)	Common Stock	35	(2)	437	D
Cash Settled Restricted Stock Units	(2)	01/15/2026		M			22	(3)	(3)	Common Stock	22	(2)	552	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.

FAQ

What insider transaction did WAL Chief Credit Officer Lynne Herndon report?

Lynne Herndon, Chief Credit Officer of Western Alliance Bancorporation (WAL), reported exercising cash-settled restricted stock units on January 15, 2026 and related trades in common stock at $89.83 per share.

How many Western Alliance (WAL) common shares did the officer trade and at what price?

The filing shows common stock transactions of 35 shares and 22 shares, each acquired at $0 per share through option-style exercises and then disposed of at $89.83 per share on January 15, 2026.

How many Western Alliance common shares does Lynne Herndon own after the Form 4 transactions?

Following the reported transactions, Lynne Herndon directly owned 1,359 shares of Western Alliance Bancorporation common stock.

What are the terms of the cash-settled restricted stock units reported by WAL’s officer?

The cash-settled restricted stock units are each the economic equivalent of one share of Western Alliance common stock and are payable solely in cash, according to the footnotes.

When do the Western Alliance cash-settled restricted stock units held by the officer vest?

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

How many cash-settled restricted stock units does the WAL officer hold after these transactions?

After the reported activity, the officer held 437 cash-settled restricted stock units from one grant and 552 units from the second grant.