Form 4: Western Alliance Bancorporation CEO Kenneth Vecchione Reports Stock Transactions
SEC Form 4 Filing
CEO Kenneth Vecchione reports the vesting and cash settlement of restricted stock units and subsequent disposal of shares.
Summary
- On March 15, 2024, Kenneth Vecchione, the President and CEO of Western Alliance Bancorporation, reported transactions involving the company's common stock.
- 539 cash-settled restricted stock units vested and were payable in cash.
- Vecchione disposed of 539 shares of common stock at a price of $57.98 per share.
- Following these transactions, Vecchione directly owns 446,300 shares of Western Alliance Bancorporation common stock.
- He also indirectly owns 1,950 shares through a 401K plan, 1,206 shares through his son Alexander Vecchione, and 750 shares through his daughter Darcy Vecchione UTMA.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing detailing stock transactions by an insider. It doesn't inherently convey positive or negative sentiment.
Future Outlook
The restricted stock units will continue to vest monthly until February 2027.
Industry Context
Form 4 filings are standard disclosures required by the SEC to provide transparency into the transactions of company insiders, allowing investors to monitor potential insider trading activity and assess management's view on the company's stock.
Key Dates
| Date | Description |
|---|---|
| 03/07/2024 | Date to include employer match as of 3/7/24. |
| 03/15/2024 | Date of stock transactions and vesting of restricted stock units. |
| 03/19/2024 | Date of signature on the Form 4 filing. |
| February 2027 | End date of the 36-month vesting period for the restricted stock units. |
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