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Western Alliance (NYSE: WAL) CEO exercises 1,571 cash-settled RSUs

Filing Impact
(High)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Western Alliance Bancorporation President and CEO Kenneth Vecchione reported routine equity compensation activity. On April 15, 2026, he exercised cash settled restricted stock units economically equivalent to 1,571 shares of common stock, paired with issuer dispositions of the same share amounts at $78.51 per share. Following these transactions, he directly holds 463,178 shares of common stock, plus indirect holdings through a 401K Plan and a UTMA account for his daughter. The filing reflects compensation-related derivative exercises and returns of shares to the issuer, not open-market buying or selling.

Positive

  • None.

Negative

  • None.
Insider Vecchione Kenneth
Role President and CEO
Type Security Shares Price Value
Exercise Cash Settled Restricted Stock Units 539 $0.00 --
Exercise Cash Settled Restricted Stock Units 437 $0.00 --
Exercise Cash Settled Restricted Stock Units 595 $0.00 --
Exercise Common Stock 539 $0.00 --
Disposition Common Stock 539 $78.51 $42K
Exercise Common Stock 437 $0.00 --
Disposition Common Stock 437 $78.51 $34K
Exercise Common Stock 595 $0.00 --
Disposition Common Stock 595 $78.51 $47K
holding Common Stock -- -- --
holding Common Stock -- -- --
Holdings After Transaction: Cash Settled Restricted Stock Units — 5,402 shares (Direct); Common Stock — 463,717 shares (Direct); Common Stock — 1,950 shares (Indirect, 401K Plan)
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 2024 and ending February 2027. Each unit is the economic equivalent of one share of Western Alliance Bancorporation common stock. 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. 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. Reflects shares held in the 401K Plan to include employer match as of 4/16/2026.
Derivative units exercised 1,571 units ExerciseShares across three cash settled RSU transactions on April 15, 2026
Issuer disposition price $78.51 per share Price for three dispositions to issuer of 539, 437 and 595 shares
Direct common stock holdings 463,178 shares Total shares of Western Alliance common stock held directly after transactions
401K Plan holdings 1,950 shares Indirect holdings in 401K Plan as of April 16, 2026
UTMA account holdings 750 shares Indirect holdings in Darcy Vecchione UTMA (daughter)
Vesting schedule 1 1/36th monthly Cash settled RSUs vest from March 2024 to February 2027
Vesting schedule 2 1/36th monthly Cash settled RSUs vest from March 2025 to February 2028
Vesting schedule 3 1/36th monthly Cash settled RSUs vest from March 2026 to February 2029
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.
Exercise or conversion of derivative security financial
"transaction_code_description: Exercise or conversion of derivative security"
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."
401K Plan financial
"Reflects shares held in the 401K Plan to include employer match as of 4/16/2026."
UTMA financial
"nature_of_ownership: Darcy Vecchione UTMA (daughter)"
Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED 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*
Vecchione Kenneth
(Last)(First)(Middle)
C/O WESTERN ALLIANCE BANCORPORATION
ONE E. WASHINGTON STREET, STE 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)
XDirector10% Owner
XOfficer (give title below)Other (specify below)
President and CEO
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
04/15/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm 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)
CodeVAmount(A) or (D)Price
Common Stock04/15/2026M539(1)A$0(2)463,717D
Common Stock04/15/2026D539D$78.51463,178D
Common Stock04/15/2026M437(3)A$0(2)463,615D
Common Stock04/15/2026D437D$78.51463,178D
Common Stock04/15/2026M595(4)A$0(2)463,773D
Common Stock04/15/2026D595D$78.51463,178D
Common Stock1,950(5)I401K Plan
Common Stock750IDarcy Vecchione UTMA (daughter)
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Cash Settled Restricted Stock Units(2)04/15/2026M539 (1) (1)Common Stock539(2)5,402D
Cash Settled Restricted Stock Units(2)04/15/2026M437 (3) (3)Common Stock437(2)9,608D
Cash Settled Restricted Stock Units(2)04/15/2026M595 (4) (4)Common Stock595(2)20,212D
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.
5. Reflects shares held in the 401K Plan to include employer match as of 4/16/2026.
Remarks:
/s/Jessica Jarvi (Attorney-in-fact)04/17/2026
** Signature of Reporting PersonDate
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

FAQ

What insider transactions did WAL CEO Kenneth Vecchione report on this Form 4?

Kenneth Vecchione reported exercising 1,571 cash settled restricted stock units tied to Western Alliance Bancorporation common stock, along with matching dispositions of 1,571 shares back to the issuer at $78.51 per share. These are compensation-related derivative exercises, not open-market trades.

Did the WAL CEO buy or sell Western Alliance stock in the open market?

The WAL CEO did not report any open-market purchases or sales. Instead, the Form 4 shows issuer dispositions of 1,571 shares at $78.51 per share tied to derivative exercises, which represent returns of shares to the company rather than market trades.

How many Western Alliance shares does the WAL CEO hold after these transactions?

After these transactions, Kenneth Vecchione directly holds 463,178 shares of Western Alliance common stock. He also has indirect ownership of 1,950 shares through a 401K Plan and 750 shares held in a UTMA account for his daughter, as disclosed in the filing.

What are the terms of the WAL CEO’s cash settled restricted stock units?

The filing states that these units vest and are payable solely in cash, with each unit economically equivalent to one share of Western Alliance common stock. Vesting occurs in 1/36th monthly installments over 36-month periods beginning in March 2024, March 2025, and March 2026.

How many derivative units did the WAL CEO exercise in this Form 4?

The transaction summary shows exerciseCount 3 and exerciseShares 1,571, reflecting three derivative exercises of cash settled restricted stock units. Each exercise converted units economically equivalent to Western Alliance common stock as part of the CEO’s compensation program.

What indirect Western Alliance holdings does the WAL CEO report?

The Form 4 lists indirect ownership of 1,950 Western Alliance shares through a 401K Plan and 750 shares in a Darcy Vecchione UTMA (daughter) account. These positions are reported as indirect beneficial holdings separate from his direct common stock ownership.