Western Alliance (NYSE: WAL) CFO settles 123 cash-settled RSUs and adjusts holdings

Rhea-AI Filing Summary

WESTERN ALLIANCE BANCORPORATION Chief Financial Officer Vishal Idnani reported an exercise and related disposition involving cash settled restricted stock units. He exercised 123 units, each economically equivalent to one share of common stock, into 123 shares at a stated price of $0.0000 per share. Those 123 common shares were then disposed of to the issuer at $78.5100 per share, leaving him with 11,468 common shares held directly. The units vest and are payable solely in cash, with 1/36th vesting on the 15th day of each month from March 2026 through February 2029.

Insider Trade Summary

123 shares exercised/converted

Mixed 3 txns

Insider Idnani Vishal

Role Chief Financial Officer

Type	Security	Shares	Price	Value
Exercise	Cash Settled Restricted Stock Units	123	$0.00	--
Exercise	Common Stock	123	$0.00	--
Disposition	Common Stock	123	$78.51	$10K

Holdings After Transaction: Cash Settled Restricted Stock Units — 4,166 shares (Direct); Common Stock — 11,591 shares (Direct)

Footnotes (1)

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 2026 and ending February 2029. Each unit is the economic equivalent of one share of Western Alliance Bancorporation common stock.

Key Figures

RSUs exercised: 123 units Common shares acquired via exercise: 123 shares Disposition price to issuer: $78.51 per share +3 more

6 metrics

RSUs exercised 123 units Cash settled restricted stock units exercised on April 15, 2026

Common shares acquired via exercise 123 shares Common stock received from RSU exercise at $0.0000 per share

Disposition price to issuer $78.51 per share 123 common shares disposed of to issuer on April 15, 2026

Shares held after transactions 11,468 shares Direct common stock holdings following reported Form 4 transactions

Post-exercise derivative holdings 4,166 units Cash settled RSUs total following derivative transaction entry

Vesting schedule fraction 1/36th monthly Units vest monthly from March 2026 to February 2029, payable in cash

Key Terms

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

3 terms

Cash Settled Restricted Stock Units financial

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

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""

economic equivalent financial

"Each unit is the economic equivalent of one share of Western Alliance Bancorporation common stock."

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Form 4 Insider Transactions: What Each Field Means →

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^*

Idnani Vishal

(Last) (First) (Middle)

C/O WESTERN ALLIANCE BANCORPORATION

1 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 Financial Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/15/2026

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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	04/15/2026		M		123(1)	A	$0(2)	11,591	D
Common Stock	04/15/2026		D		123	D	$78.51	11,468	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)	04/15/2026		M			123	(1)	(1)	Common Stock	123	(2)	4,166	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 2026 and ending February 2029.

2. Each unit is the economic equivalent of one share of Western Alliance Bancorporation common stock.

Remarks:

	/s/Jessica Jarvi (Attorney-in-fact)	04/17/2026
	** 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)

FAQ

What insider transaction did WAL CFO Vishal Idnani report on this Form 4?

CFO Vishal Idnani reported exercising 123 cash settled restricted stock units into 123 shares of Western Alliance Bancorporation common stock and then disposing of those 123 shares back to the issuer. The transactions occurred on April 15, 2026 and are reflected as routine equity compensation activity.

How many Western Alliance (WAL) shares does the CFO hold after this Form 4?

After the reported transactions, CFO Vishal Idnani directly holds 11,468 shares of Western Alliance Bancorporation common stock. This figure reflects his position following the exercise of 123 units and the corresponding disposition of 123 common shares to the issuer on April 15, 2026.

At what price were Western Alliance (WAL) shares disposed of in this filing?

The 123 shares of Western Alliance Bancorporation common stock were disposed of to the issuer at $78.51 per share. This disposition followed the exercise of 123 cash settled restricted stock units, which were converted at a stated price of $0.00 per share in the reported transactions.

How do the WAL cash settled restricted stock units for the CFO vest over time?

The cash settled restricted stock units vest and are payable solely in cash, with 1/36th of the award vesting on the 15th day of each month. This schedule runs from March 2026 through February 2029, providing a gradual, monthly vesting pattern for the units.

What is the economic relationship between WAL cash settled RSUs and common stock?

Each cash settled restricted stock unit is described as the economic equivalent of one share of Western Alliance Bancorporation common stock. This means the value of each unit tracks a single share, even though the units themselves are structured to be payable solely in cash upon vesting.