Form 4: WAL Officer Sells Shares Post-RSU Vesting

Western Alliance Bancorporation's Chief Administration Officer, Timothy W. Boothe, sold shares of common stock following the vesting of cash-settled Restricted Stock Units.

Summary

• Timothy W. Boothe, Chief Administration Officer of Western Alliance Bancorporation (WAL), reported transactions on August 15, 2025.
• Boothe acquired 97 shares of common stock at a price of $0, likely from the vesting of cash-settled Restricted Stock Units (RSUs).
• Concurrently, he disposed of 97 shares of common stock at a price of $82.55 per share.
• Additionally, Boothe acquired another 69 shares of common stock at a price of $0, also from the vesting of cash-settled RSUs.
• He then disposed of these 69 shares of common stock at a price of $82.55 per share.
• These transactions are consistent with a 'sell to cover' strategy, where shares are sold to cover tax obligations or other costs associated with RSU vesting.
• Following these transactions, Boothe directly beneficially owns 63,202 shares of common stock.
• He also indirectly owns 325 shares of common stock through his spouse, Alvina Boothe.
• Remaining cash-settled RSU holdings include 1,749 units from a tranche vesting monthly from March 2024 to February 2027, and 2,069 units from a tranche vesting monthly from March 2025 to February 2028.

Sentiment

Score: 5

Explanation: The filing indicates routine insider transactions related to RSU vesting and subsequent share sales to cover associated costs, which is a neutral event and does not suggest a change in management's confidence or company performance.

Future Outlook

The filing details future vesting schedules for cash-settled Restricted Stock Units, with units vesting monthly until February 2027 and February 2028, respectively.

Industry Context

This Form 4 filing reflects a routine insider transaction common across publicly traded companies, particularly in the financial services sector, where executive compensation often includes equity-based awards like Restricted Stock Units. The 'sell to cover' strategy is a standard practice for managing tax liabilities upon the vesting of such awards.

Related Party Transactions

• Indirect beneficial ownership of 325 shares of common stock by Alvina Boothe (spouse) is disclosed.

Stakeholder Impact

• Shareholders: The sale of a small number of shares by an officer for tax purposes is a routine event and is unlikely to have a material impact on the company's stock price or long-term shareholder value.
• Employees: The vesting and subsequent sale of RSUs are part of standard executive compensation practices, which can be a positive for employee retention and motivation.

Key Dates

Keywords

Western Alliance Bancorporation, WAL, SEC Form 4, Insider Trading, Restricted Stock Units, RSU Vesting, Officer Stock Sale, Financial Services, Banking