[SCHEDULE 13G/A] Western Alliance Bancorporation SEC Filing

Rhea-AI Filing Summary

Schedule 13G/A disclosure by T. Rowe Price Associates reports a meaningful passive stake in Western Alliance Bancorp common stock. The filer reports beneficial ownership of 6,315,145 shares, representing 5.7% of the class, with sole voting power over 6,234,004 shares and sole dispositive power over 6,315,145 shares. The filing states the securities are held in the ordinary course of business and were not acquired to change or influence control of the issuer.

The statement also includes a declaration that the filing should not be construed as an admission of beneficial ownership. This is a routine institutional disclosure that documents a >5% position and the specific voting and dispositive powers reported by the investment adviser.

Positive

• Beneficial ownership of 6,315,145 shares reported, representing a 5.7% stake in Western Alliance Bancorp
• Sole voting power of 6,234,004 shares and sole dispositive power of 6,315,145 shares are explicitly disclosed

Negative

• None.

Insights

Financial Analyst

TL;DR: T. Rowe Price discloses a material 5.7% passive stake in Western Alliance, with clear sole voting and dispositive powers reported.

The filing shows an institutional investor holding 6,315,145 shares (5.7%) of Western Alliance Bancorp common stock and exercising sole voting power over 6,234,004 shares. As a Schedule 13G/A, this indicates disclosure of a passive position rather than an active control effort. For analysts, the key datapoints are the absolute share counts and the >5% threshold that triggered the filing. No transactional terms, purchases, sales, or intentions to influence control are stated in the document.

Corporate Governance Expert

TL;DR: The form documents passive institutional ownership and includes a certification denying intent to influence control or constructive beneficial ownership.

The filing explicitly certifies the securities are held in the ordinary course of business and were not acquired to change or influence control, and it contains language that the filer does not admit beneficial ownership. Governance review should note the reported sole voting power of 6,234,004 and sole dispositive power of 6,315,145, but the statement aligns with a passive institutional disclosure rather than an activist or control-seeking filing.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 2)

WESTERN ALLIANCE BANCORP

(Name of Issuer)

COMMON STOCK

(Title of Class of Securities)

957638109

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 957638109

1

Names of Reporting Persons

T. Rowe Price Associates, Inc.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

MARYLAND

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 6,234,004.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 6,315,145.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

6,315,145.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.7 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: WESTERN ALLIANCE BANCORP
(b)	Address of issuer's principal executive offices: ONE E. WASHINGTON STREET, PHOENIX, AZ, 85004
Item 2.
(a)	Name of person filing: T. Rowe Price Associates, Inc.
(b)	Address or principal business office or, if none, residence: 1307 Point Street, Baltimore, MD 21231
(c)	Citizenship: Maryland
(d)	Title of class of securities: COMMON STOCK
(e)	CUSIP No.: 957638109
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 6315145
(b)	Percent of class: 5.7 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 6234004
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 6315145
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11. T. Rowe Price Associates, Inc. hereby declares and affirms that the filing of Schedule 13G shall not be construed as an admission that Price Associates is the beneficial owner of the securities referred to, which beneficial ownership is expressly denied.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

T. Rowe Price Associates, Inc.

Signature:	Ellen York
Name/Title:	Vice President
Date:	08/14/2025

FAQ

How many shares of Western Alliance Bancorp (WAL) does T. Rowe Price own?

T. Rowe Price Associates reports beneficial ownership of 6,315,145 shares, representing 5.7% of the common stock class.

Does T. Rowe Price have voting control over WAL shares?

The filing reports sole voting power over 6,234,004 shares and shared voting power of 0 shares.

Is the Schedule 13G/A indicating an intent to influence control of WAL?

No; the filing certifies the securities are held in the ordinary course of business and were not acquired to change or influence control of the issuer.

What type of filer is T. Rowe Price on this Schedule 13G/A?

The filing classifies the reporting person as IA (investment adviser) in the document.

When was the Schedule 13G/A signed by T. Rowe Price?

The signature block in the filing shows the form was signed by Ellen York, Vice President, with a signature date of 08/14/2025.