Western Alliance (WAL) CLO logs RSU exercises and retains over 13,700 shares

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Western Alliance Bancorporation chief legal officer and secretary Jessica H. Jarvi reported compensation-related equity activity. On April 15, 2026 she exercised 168 cash settled restricted stock units that are each the economic equivalent of one share of common stock. These units vest and are payable solely in cash in equal monthly installments over 36-month periods beginning in March 2024, March 2025 and March 2026. Related common stock entries show acquisitions and dispositions to the issuer at $78.51 per share. After these transactions, she holds 13,707 common shares directly and 2,074 shares indirectly through the WAL 401(k) Plan as of 4/16/2026.

Insider Trade Summary

168 shares exercised/converted

Mixed 10 txns

Insider Jarvi Jessica H

Role CLO & Secretary

Type	Security	Shares	Price	Value
Exercise	Cash Settled Restricted Stock Units	58	$0.00	--
Exercise	Cash Settled Restricted Stock Units	46	$0.00	--
Exercise	Cash Settled Restricted Stock Units	64	$0.00	--
Exercise	Common Stock	58	$0.00	--
Disposition	Common Stock	58	$78.51	$5K
Exercise	Common Stock	46	$0.00	--
Disposition	Common Stock	46	$78.51	$4K
Exercise	Common Stock	64	$0.00	--
Disposition	Common Stock	64	$78.51	$5K
holding	Common Stock	--	--	--

Holdings After Transaction: Cash Settled Restricted Stock Units — 563 shares (Direct); Common Stock — 13,765 shares (Direct); Common Stock — 2,074 shares (Indirect, WAL 401(k))

Footnotes (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.

Key Figures

RSUs exercised: 168 units Disposition price: $78.51 per share Direct common shares held: 13,707 shares +3 more

6 metrics

RSUs exercised 168 units Cash settled restricted stock units exercised on April 15, 2026

Disposition price $78.51 per share Common stock dispositions to issuer on April 15, 2026

Direct common shares held 13,707 shares Direct ownership following transactions

Indirect 401(k) shares 2,074 shares Held in WAL 401(k) Plan as of 4/16/2026

Derivative exercises count 3 exercises Exercise or conversion of derivative securities

Exercise shares total 168 shares equivalent ExerciseShares in transaction summary

Key Terms

Cash Settled Restricted Stock Units, Disposition to issuer, economic equivalent, WAL 401(k), +1 more

5 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.

Disposition to issuer financial

"transaction_code_description: "Disposition to issuer""

economic equivalent financial

"Each unit is the economic equivalent of one share"

WAL 401(k) financial

"nature_of_ownership: "WAL 401(k)""

Exercise or conversion of derivative security financial

"transaction_code_description: "Exercise or conversion of derivative security""

Form 4 Insider Transactions: What Each Field Means →

04/17/2026 - 05:05 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^*

Jarvi Jessica H

(Last)

(First)

(Middle)

1 E. WASHINGTON STREET

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)
	CLO & Secretary

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)
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	04/15/2026		M		58⁽¹⁾	A	$0⁽²⁾	13,765	D
Common Stock	04/15/2026		D		58	D	$78.51	13,707	D
Common Stock	04/15/2026		M		46⁽³⁾	A	$0⁽²⁾	13,753	D
Common Stock	04/15/2026		D		46	D	$78.51	13,707	D
Common Stock	04/15/2026		M		64⁽⁴⁾	A	$0⁽²⁾	13,771	D
Common Stock	04/15/2026		D		64	D	$78.51	13,707	D
Common Stock								2,074⁽⁵⁾	I	WAL 401(k)

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⁾	04/15/2026		M			58	⁽¹⁾	⁽¹⁾	Common Stock	58	⁽²⁾	563	D
Cash Settled Restricted Stock Units	⁽²⁾	04/15/2026		M			46	⁽³⁾	⁽³⁾	Common Stock	46	⁽²⁾	1,011	D
Cash Settled Restricted Stock Units	⁽²⁾	04/15/2026		M			64	⁽⁴⁾	⁽⁴⁾	Common Stock	64	⁽²⁾	2,177	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.

5. Reflects shares held in the 401K Plan to include employer match as of 4/16/2026.

Remarks:

	Jessica H. Jarvi	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)

Source: View Original Filing on SEC EDGAR

FAQ

What insider activity did WAL executive Jessica Jarvi report on this Form 4?

Jessica H. Jarvi reported compensation-related equity activity. On April 15, 2026 she exercised 168 cash settled restricted stock units tied economically to Western Alliance Bancorporation common stock, with related acquisitions and dispositions of common shares recorded at $78.51 per share.

How many Western Alliance (WAL) shares does Jessica Jarvi hold after these transactions?

After the reported transactions, Jessica H. Jarvi holds 13,707 Western Alliance common shares directly. She also has 2,074 shares held indirectly through the WAL 401(k) Plan, reflecting her post-transaction ownership position disclosed in the filing data and footnotes.

What are cash settled restricted stock units in the WAL Form 4 filing?

The cash settled restricted stock units are compensation awards payable solely in cash. Each unit is described as the economic equivalent of one share of Western Alliance common stock, meaning their value tracks the share price even though settlement occurs in cash, not stock.

How do the WAL restricted stock units for Jessica Jarvi vest over time?

The units vest in equal monthly installments over 36 months. Separate tranches begin vesting on March 15, 2024, March 15, 2025, and March 15, 2026, with 1/36th of each tranche vesting on the 15th day of each month through their respective end dates.

What does the $78.51 price in Jessica Jarvi’s WAL Form 4 represent?

The $78.51 figure is the per-share price used for common stock dispositions to the issuer. Several transactions coded as dispositions to the issuer show 58, 46, and 64 common shares each transferred back at $78.51, aligning with compensation-related settlement activity.

How many derivative exercises did the WAL Form 4 disclose for Jessica Jarvi?

The summary data shows three derivative exercises totaling 168 units. These exercises relate to cash settled restricted stock units that are economically equivalent to common shares, reflecting routine vesting and settlement of executive compensation rather than open-market purchases or sales.