Form 4: WAL CEO Reports Cash-Settled RSU Transactions

Western Alliance Bancorporation CEO Kenneth Vecchione reported routine cash-settled restricted stock unit transactions and updated beneficial ownership.

Summary

• Kenneth Vecchione, President and CEO of Western Alliance Bancorporation, reported transactions involving cash-settled restricted stock units (RSUs) on January 15, 2026.
• The filing indicates the vesting and cash settlement of 539 RSUs and 437 RSUs, each economically equivalent to one share of Western Alliance Bancorporation common stock.
• The cash settlement for these units was based on a price of $89.83 per share.
• Following these transactions, Mr. Vecchione directly beneficially owns 447,611 shares of common stock.
• He also indirectly holds 1,950 shares in a 401K Plan (as of January 8, 2026) and 750 shares for Darcy Vecchione UTMA (daughter).
• Remaining derivative holdings include 7,019 cash-settled RSUs from a grant vesting monthly from March 2024 to February 2027, and 10,919 cash-settled RSUs from a grant vesting monthly from March 2025 to February 2028.

Sentiment

Score: 5

Explanation: This is a routine insider transaction filing (Form 4) reporting the settlement of cash-settled restricted stock units and changes in beneficial ownership. It does not inherently convey positive or negative sentiment about the company's performance or outlook.

Future Outlook

This Form 4 filing does not contain any forward-looking statements or guidance regarding the company's future outlook.

Industry Context

This is a routine insider transaction filing for a financial institution's executive, reflecting compensation-related activities rather than strategic shifts or market-driven trading. Such filings are common across the banking sector for executives receiving equity-based compensation.

Related Party Transactions

• Indirect beneficial ownership of 750 common stock shares for Darcy Vecchione UTMA (daughter).

Stakeholder Impact

• Shareholders: Provides transparency on executive compensation and beneficial ownership, which is standard for publicly traded companies.
• Employees: Reflects a component of executive compensation, which may be part of broader compensation strategies.

Next Steps

• Continued monthly vesting of 7,019 cash-settled restricted stock units until February 2027.
• Continued monthly vesting of 10,919 cash-settled restricted stock units until February 2028.

Key Dates

Recommendation

This Form 4 reports routine insider transactions related to the vesting and cash settlement of restricted stock units. It does not provide new fundamental information about Western Alliance Bancorporation's financial health or strategic direction that would warrant a change in investment recommendation. The transactions reflect compensation-related activities rather than discretionary open-market purchases or sales indicating a change in management's confidence.

Keywords

Western Alliance Bancorporation, WAL, Kenneth Vecchione, SEC Form 4, Insider Transaction, Restricted Stock Units, Cash Settlement, Beneficial Ownership