What WAL share holdings are reported for the Kennedy Family Trust?

An indirect holding of 22,797 shares of Western Alliance Bancorporation common stock is reported as held by the Barbara and Ted Kennedy TTEE Kennedy Family Trust, separate from the exercised and disposed shares on that date.

Western Alliance HR chief nets zero on RSU exercise

Q: Were Barbara Kennedy’s WAL transactions under a Rule 10b5-1 trading plan?

The filing’s Rule 10b5-1 checkbox is not marked as affirming a plan (aff_10b5_one is false). The transactions are reported as equity compensation exercises and dispositions without an associated 10b5-1 plan indication.

Q: What type of awards did WAL’s Barbara Kennedy exercise in this Form 4?

Barbara Kennedy exercised cash settled restricted stock units, each described as the economic equivalent of one share of Western Alliance Bancorporation common stock, with vesting schedules running monthly over specified 36‑month periods.

WESTERN ALLIANCE BANCORPORATION (WAL) reported insider equity compensation activity by Chief Human Resources Officer Barbara Kennedy.

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)How Sentiment works

Sentiment and the balance of points

Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.

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Form Type

Rhea-AI Filing Summary

WESTERN ALLIANCE BANCORPORATION (WAL) reported insider equity compensation activity by Chief Human Resources Officer Barbara Kennedy. On 2026-08-15, Kennedy exercised cash settled restricted stock units economically equivalent to a total of 257 shares of common stock and acquired the same number of common shares at $0.00 per share, then disposed of all 257 shares to the issuer at $82.32 per share. The reported net buy/sell effect of these transactions is neutral, and an indirect holding of 22,797 common shares is reported in the Kennedy Family Trust.

Insider Trade Summary

257 shares exercised/converted

Exercise 10 txns

Insider Kennedy Barbara

Role Chief Human Resources Officer

Type	Security	Shares	Price	Value
Exercise	Cash Settled Restricted Stock Units ^{F2, F1}	101	--	--
Exercise	Cash Settled Restricted Stock Units ^{F2, F3}	74	--	--
Exercise	Cash Settled Restricted Stock Units ^{F2, F4}	82	--	--
Exercise	Common Stock ^{F1, F2}	101	$0.00	$0.00
Disposition	Common Stock	101	$82.32	$8K
Exercise	Common Stock ^{F3, F2}	74	$0.00	$0.00
Disposition	Common Stock	74	$82.32	$6K
Exercise	Common Stock ^{F4, F2}	82	$0.00	$0.00
Disposition	Common Stock	82	$82.32	$7K
holding	Common Stock	--	--	--

Holdings After Transaction: Cash Settled Restricted Stock Units — 4,382 contracts (Direct); Common Stock — 10,332 shares (Direct); Common Stock — 22,797 shares (Indirect, Barbara and Ted Kennedy TTEE Kennedy Family Trust)

Footnotes (4)

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.

Key Figures

Total share-equivalent units exercised: 257 shares Disposition price to issuer: $82.32 per share Shares acquired via exercises at no cost: 257 shares +2 more

5 metrics

Total share-equivalent units exercised 257 shares Sum of 101, 74, and 82 underlying common stock equivalents exercised on 2026-08-15

Disposition price to issuer $82.32 per share Price for 101, 74, and 82 WAL common shares disposed of to issuer on 2026-08-15

Shares acquired via exercises at no cost 257 shares Common stock acquired at $0.0000 per share upon RSU-related exercises on 2026-08-15

Indirect holdings in family trust 22,797 shares Common stock held indirectly by Barbara and Ted Kennedy TTEE Kennedy Family Trust after transactions

Net buy/sell shares 0 shares Reported net buy/sell effect across all transactions in this Form 4

Key Terms

Cash Settled Restricted Stock Units, economic equivalent, Disposition to issuer, indirect ownership

4 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.

economic equivalent financial

"Each unit is the economic equivalent of one share"

Disposition to issuer financial

"transaction_code_description: Disposition to issuer"

indirect ownership financial

"ownership_type: indirect via Kennedy Family Trust"

FAQ

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

What insider transactions did WAL executive Barbara Kennedy report on August 15, 2026?

Barbara Kennedy reported exercising cash settled restricted stock units into 257 WAL common shares and disposing all 257 shares to the issuer at $82.32 per share, resulting in a net neutral buy/sell effect.

At what price were Barbara Kennedy’s WAL shares disposed of to the issuer?

The reported dispositions of WAL common stock were made to the issuer at $82.32 per share. These dispositions matched the number of shares acquired from the exercises, producing no net change in reported buy/sell shares.

How many Western Alliance (WAL) shares were tied to Barbara Kennedy’s cash settled RSU exercises?

The cash settled restricted stock unit exercises were economically equivalent to 257 WAL common shares, consisting of 101, 74, and 82 share-equivalents, all exercised and then disposed of on 2026-08-15.

Were Barbara Kennedy’s WAL transactions under a Rule 10b5-1 trading plan?

The filing’s Rule 10b5-1 checkbox is not marked as affirming a plan (aff_10b5_one is false). The transactions are reported as equity compensation exercises and dispositions without an associated 10b5-1 plan indication.

What type of awards did WAL’s Barbara Kennedy exercise in this Form 4?

Barbara Kennedy exercised cash settled restricted stock units, each described as the economic equivalent of one share of Western Alliance Bancorporation common stock, with vesting schedules running monthly over specified 36‑month periods.

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

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Available on EDGAR 08/18/2026 - 04:27 PM Accepted by SEC EDGAR 08/18/2026 - 04:26 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^*

Kennedy Barbara

(Last)

(First)

(Middle)

ONE E. WASHINGTON ST., SUITE 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)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Chief Human Resources Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
08/15/2026

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	08/15/2026		M		101⁽¹⁾	A	$0⁽²⁾	10,433	D
Common Stock	08/15/2026		D		101	D	$82.32	10,332	D
Common Stock	08/15/2026		M		74⁽³⁾	A	$0⁽²⁾	10,406	D
Common Stock	08/15/2026		D		74	D	$82.32	10,332	D
Common Stock	08/15/2026		M		82⁽⁴⁾	A	$0⁽²⁾	10,414	D
Common Stock	08/15/2026		D		82	D	$82.32	10,332	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)
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⁾	08/15/2026		M			101	⁽¹⁾	⁽¹⁾	Common Stock	101	⁽²⁾	594	D
Cash Settled Restricted Stock Units	⁽²⁾	08/15/2026		M			74	⁽³⁾	⁽³⁾	Common Stock	74	⁽²⁾	1,317	D
Cash Settled Restricted Stock Units	⁽²⁾	08/15/2026		M			82	⁽⁴⁾	⁽⁴⁾	Common Stock	82	⁽²⁾	2,471	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.

Remarks:

	/s/Jessica Jarvi (Attorney-in-fact)	08/18/2026
	** 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