Form 4: Western Alliance Bancorporation CEO Reports Stock Transactions
SEC Form 4 Filing
Kenneth Vecchione, CEO of Western Alliance Bancorporation, reports the vesting and cash settlement of restricted stock units and adjustments to beneficial ownership.
Summary
- Kenneth Vecchione, the CEO of Western Alliance Bancorporation, filed a Form 4 detailing changes in his beneficial ownership of the company's stock.
- On April 15, 2024, 539 cash-settled restricted stock units vested and were settled.
- He disposed of 539 shares at a price of $56.16.
- Following these transactions, Vecchione directly owns 446,300 shares of Western Alliance Bancorporation common stock.
- He also has indirect ownership through a 401K plan (1,950 shares), a UTMA account for his daughter Darcy Vecchione (750 shares), and an account for his son Alexander Vecchione (456 shares).
- Alexander Vecchione transferred 750 shares to the Greenspring Revocable Trust on March 19, 2024, for which he is the sole Trustee and Beneficiary.
- The CEO disclaims beneficial ownership of the shares held by the Greenspring Revocable Trust.
- Vecchione also directly owns 18,338 cash-settled restricted stock units.
Sentiment
Score: 5
Explanation: The document is a routine disclosure of stock transactions by a company insider, with no inherent positive or negative sentiment.
Industry Context
Form 4 filings are standard practice for corporate insiders to report transactions in their company's stock, providing transparency to investors.
Key Dates
| Date | Description |
|---|---|
| 03/19/2024 | Alexander Vecchione transferred 750 shares to the Greenspring Revocable Trust. |
| 04/04/2024 | Date to include employer match for shares held in the 401K Plan. |
| 04/15/2024 | Vesting and cash settlement of 539 restricted stock units; disposal of 539 shares at $56.16. |
| 04/17/2024 | Date of signature for the Form 4 filing. |
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