Western Alliance Bancorporation (WAL) director discloses multiple stock sales

Rhea-AI Filing Summary

Western Alliance Bancorporation reported that one of its directors sold shares of the company’s common stock on 12/15/2025. The transactions included 1,100 shares sold at a weighted average price of $86.50 through the William R. Boyd Subtrust of The Boyd 2005 Irrevocable Trust, as well as additional blocks such as 7,714 shares sold at a weighted average price of $86.79 and 5,386 shares sold at $87.95 through other named subtrusts of the Boyd 2005 Irrevocable Trust.

After these sales, the reporting person continued to hold 9,945 Western Alliance common shares directly and indirect interests including 2,496 shares through a spouse, 149,634 shares in The Marianne E. Boyd Trust dated January 9, 2007, and 148,525 shares through WSB-WAL LLC. An additional 4,010,189 shares are held by the SMW WAL Irrevocable Trust dated March 13, 2023, where the reporting person is trustee but disclaims beneficial ownership in all but 1,336,730 of those shares.

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^*

JOHNSON MARIANNE BOYD

(Last) (First) (Middle)

C/O WESTERN ALLIANCE BANCORPORATION

ONE E. WASHINGTON STREET, STE 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)

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

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		S		1,100	D	$86.5(1)	6,614	I	William R. Boyd Subtrust of The Boyd 2005 Irrevocable Trust dated April 15, 2005
Common Stock	12/15/2025		S		6,614	D	$86.79(2)	0	I	William R. Boyd Subtrust of The Boyd 2005 Irrevocable Trust dated April 15, 2005
Common Stock	12/15/2025		S		7,714	D	$86.79(2)	0	I	Samuel J. Boyd Subtrust of the Boyd 2005 Irrevocable Trust dated April 14, 2005
Common Stock	12/15/2025		S		2,328	D	$86.79(2)	5,386	I	Marianne Boyd Johnson Subtrust of the Boyd 2005 Irrevocable Trust dated April 14, 2005
Common Stock	12/15/2025		S		5,386	D	$87.95(3)	0	I	Marianne Boyd Johnson Subtrust of the Boyd 2005 Irrevocable Trust dated April 14, 2005
Common Stock								9,945	D
Common Stock								2,496	I	Samuel J. Johnson (spouse)
Common Stock								149,634	I	The Marianne E. Boyd Trust, dated January 9, 2007
Common Stock								148,525	I	WSB-WAL LLC
Common Stock								4,010,189(4)	I	SMW WAL Irrevocable Trust, dated March 13, 2023

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

Explanation of Responses:

1. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $86.48 to $86.52, inclusive. The reporting person undertakes to provide to Western Alliance Bancorporation, any security holder of Western Alliance Bancorporation, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnotes (1), (2), and (3) to this Form 4.

2. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $86.53 to $87.36, inclusive.

3. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $87.64 to $88.50, inclusive.

4. The reporting person is the Trustee of SMW WAL Irrevocable Trust and disclaims beneficial ownership in all but 1,336,730 shares.

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).
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 stock transactions did a Western Alliance Bancorporation (WAL) director report?

The filing shows that a director of Western Alliance Bancorporation (WAL) reported multiple sales of common stock on 12/15/2025, coded as transaction type "S" (sale) in Table I.

On what date and at what prices were WAL shares sold by the director?

All reported sales occurred on 12/15/2025. Weighted average sale prices included $86.50 (with individual trades from $86.48 to $86.52), $86.79 (with trades from $86.53 to $87.36), and $87.95 (with trades from $87.64 to $88.50), as described in the footnotes.

How many Western Alliance shares does the reporting person hold directly after the reported transactions?

Following the reported sales, the filing lists 9,945 shares of Western Alliance Bancorporation common stock as being held in direct ownership by the reporting person.

What indirect WAL share holdings are reported through related persons and entities?

The filing discloses indirect holdings of 2,496 shares through Samuel J. Johnson (spouse), 149,634 shares through The Marianne E. Boyd Trust dated January 9, 2007, and 148,525 shares through WSB-WAL LLC, in addition to various Boyd 2005 Irrevocable Trust subtrusts.

What does the filing state about the SMW WAL Irrevocable Trust’s WAL share ownership?

The filing reports that the SMW WAL Irrevocable Trust dated March 13, 2023 holds 4,010,189 Western Alliance shares. The reporting person is the trustee and disclaims beneficial ownership in all but 1,336,730 shares of that amount.

How were the reported stock sale prices for WAL calculated in this director’s filing?

For each group of sales, the price shown in Column 4 is described as a weighted average price. Footnotes explain that the shares were sold in multiple transactions within specified price ranges, and detailed trade data is available on request.