Western Alliance (NYSE: WAL) vice chair reports 726-unit exercise, retains 307,093 shares

Q: What insider transactions did WAL executive Dale Gibbons report on this Form 4?

Dale Gibbons reported exercising derivative awards tied to 726 cash-settled restricted stock units on March 15, 2026, along with matching 726-share dispositions of common stock to the issuer at $67.97 per share, reflecting compensation-related activity rather than open-market trades.

Q: How many Western Alliance (WAL) shares does Dale Gibbons hold after these transactions?

After the reported transactions, Dale Gibbons holds 307,093 shares of Western Alliance common stock directly. He also has an additional 612 shares held indirectly through a 401K Plan as of March 5, 2026, according to the filing’s ownership table.

Q: Were the WAL transactions by Dale Gibbons open-market purchases or sales?

The filing classifies the main actions as derivative exercises/conversions and dispositions to the issuer , not open-market purchases or sales. Common stock entries with code D at $67.97 per share are labeled as returns of shares to Western Alliance, not market trades.

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Western Alliance Bancorporation executive Dale Gibbons reported routine equity compensation activity. On March 15, 2026, he exercised derivative awards labeled as cash-settled restricted stock units covering 726 units that are economically equivalent to common shares.

Corresponding entries show issuer dispositions of 726 shares of common stock at $67.97 per share, resulting in 307,093 shares of common stock held directly after these transactions, plus 612 shares held indirectly through a 401K plan as of March 5, 2026. The pattern reflects compensation-related exercises and returns to the issuer rather than open-market buying or selling.

Insider Trade Summary

726 shares exercised/converted

Mixed 10 txns

Insider GIBBONS DALE

Role Vice Chair and CBO, Deposits

Type	Security	Shares	Price	Value
Exercise	Cash Settled Restricted Stock Units	285	$0.00	--
Exercise	Cash Settled Restricted Stock Units	212	$0.00	--
Exercise	Cash Settled Restricted Stock Units	229	$0.00	--
Exercise	Common Stock	285	$0.00	--
Disposition	Common Stock	285	$67.97	$19K
Exercise	Common Stock	212	$0.00	--
Disposition	Common Stock	212	$67.97	$14K
Exercise	Common Stock	229	$0.00	--
Disposition	Common Stock	229	$67.97	$16K
holding	Common Stock	--	--	--

Holdings After Transaction: Cash Settled Restricted Stock Units — 3,127 shares (Direct); Common Stock — 307,378 shares (Direct); Common Stock — 612 shares (Indirect, 401K Plan)

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 3/5/2026.

Form 4 Insider Transactions: What Each Field Means →

03/17/2026 - 04:25 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^*

GIBBONS DALE

(Last)

(First)

(Middle)

C/O WESTERN ALLIANCE BANCORPORATION

ONE E. WASHINGTON STREET, STE 1400

(Street)

PHOENIX

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)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Vice Chair and CBO, Deposits

3. Date of Earliest Transaction (Month/Day/Year)
03/15/2026

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)
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	03/15/2026		M		285⁽¹⁾	A	$0⁽²⁾	307,378	D
Common Stock	03/15/2026		D		285	D	$67.97	307,093	D
Common Stock	03/15/2026		M		212⁽³⁾	A	$0⁽²⁾	307,305	D
Common Stock	03/15/2026		D		212	D	$67.97	307,093	D
Common Stock	03/15/2026		M		229⁽⁴⁾	A	$0⁽²⁾	307,322	D
Common Stock	03/15/2026		D		229	D	$67.97	307,093	D
Common Stock								612⁽⁵⁾	I	401K Plan

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⁾	03/15/2026		M			285	⁽¹⁾	⁽¹⁾	Common Stock	285	⁽²⁾	3,127	D
Cash Settled Restricted Stock Units	⁽²⁾	03/15/2026		M			212	⁽³⁾	⁽³⁾	Common Stock	212	⁽²⁾	4,859	D
Cash Settled Restricted Stock Units	⁽²⁾	03/15/2026		M			229	⁽⁴⁾	⁽⁴⁾	Common Stock	229	⁽²⁾	8,003	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 3/5/2026.

Remarks:

	/s/Jessica Jarvi (Attorney-in-fact)	03/17/2026
	** 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.

Source: View Original Filing on SEC EDGAR

FAQ

What insider transactions did WAL executive Dale Gibbons report on this Form 4?

Dale Gibbons reported exercising derivative awards tied to 726 cash-settled restricted stock units on March 15, 2026, along with matching 726-share dispositions of common stock to the issuer at $67.97 per share, reflecting compensation-related activity rather than open-market trades.

How many Western Alliance (WAL) shares does Dale Gibbons hold after these transactions?

After the reported transactions, Dale Gibbons holds 307,093 shares of Western Alliance common stock directly. He also has an additional 612 shares held indirectly through a 401K Plan as of March 5, 2026, according to the filing’s ownership table.

Were the WAL transactions by Dale Gibbons open-market purchases or sales?

The filing classifies the main actions as derivative exercises/conversions and dispositions to the issuer, not open-market purchases or sales. Common stock entries with code D at $67.97 per share are labeled as returns of shares to Western Alliance, not market trades.

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

The filing describes these as units that vest monthly and are payable solely in cash, with each unit economically equivalent to one share of Western Alliance common stock. Footnotes specify 36-month vesting schedules beginning in March 2024, March 2025, and March 2026 for different unit grants.

How large are the WAL Form 4 transactions compared with Dale Gibbons’ holdings?

The derivative exercises and matching issuer dispositions each cover 726 shares, compared with 307,093 common shares held directly afterward. This indicates the reported activity represents a relatively small, routine portion of his overall visible equity position in Western Alliance.