[Form 4] WESTERN ALLIANCE BANCORPORATION Insider Trading Activity

Rhea-AI Filing Summary

Western Alliance Bancorporation (WAL) reported insider activity by its Chief Human Resources Officer on 10/15/2025. The filing shows cash-settled RSUs vesting and corresponding same-day entries: an M-code conversion for 101 and 74 units (each the economic equivalent of one share) followed by dispositions of 101 and 74 shares at $78.84.

After these transactions, direct beneficial ownership was 8,753 shares. The report also lists 22,797 shares held indirectly through the Barbara and Ted Kennedy TTEE Kennedy Family Trust. The RSUs vest monthly in 1/36th increments across schedules running March 2024–February 2027 and March 2025–February 2028.

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^*

Kennedy Barbara

(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)
	Chief Human Resources Officer

3. Date of Earliest Transaction (Month/Day/Year)
10/15/2025

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	10/15/2025		M		101(1)	A	$0(2)	8,854	D
Common Stock	10/15/2025		D		101	D	$78.84	8,753	D
Common Stock	10/15/2025		M		74(3)	A	$0(2)	8,827	D
Common Stock	10/15/2025		D		74	D	$78.84	8,753	D
Common Stock								22,797	I	Barbara and Ted Kennedy TTEE Kennedy Family Trust

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)	10/15/2025		M			101	(1)	(1)	Common Stock	101	(2)	1,604	D
Cash Settled Restricted Stock Units	(2)	10/15/2025		M			74	(3)	(3)	Common Stock	74	(2)	2,057	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)	10/17/2025
	** 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).
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 did WAL’s insider report on Form 4?

The CHRO reported cash-settled RSU vesting on 10/15/2025, with M-code conversions of 101 and 74 units and same-day dispositions at $78.84.

How many shares did the WAL officer hold directly after the transactions?

Direct beneficial ownership was 8,753 shares after the reported transactions.

What indirect holdings were disclosed in the WAL filing?

The filing lists 22,797 shares held indirectly via the Barbara and Ted Kennedy TTEE Kennedy Family Trust.

What do the RSU vesting schedules look like for WAL’s CHRO?

Two schedules vest monthly in 1/36th increments: one from March 2024–February 2027, and another from March 2025–February 2028.

What price was used for the same-day dispositions in the WAL Form 4?

The dispositions were reported at $78.84 per share.

What does transaction code M indicate in the WAL insider filing?

Code M indicates a conversion of a derivative security, here cash-settled RSUs, into the economic equivalent of common stock for settlement.