Form 4: Western Alliance Bancorporation: Chief Credit Officer Reports Stock Unit Activity

Lynne Herndon, Chief Credit Officer of Western Alliance Bancorporation, reports the vesting and cash settlement of restricted stock units.

Summary

• On July 15, 2024, Lynne Herndon, the Chief Credit Officer of Western Alliance Bancorporation, reported transactions involving common stock and cash-settled restricted stock units.
• 35 restricted stock units vested and were settled in cash.
• Following these transactions, Ms. Herndon directly owns 829 shares of common stock and 1,067 cash-settled restricted stock units.
• The restricted stock units vest monthly over a 36-month period, starting in March 2024 and ending in February 2027.

Sentiment

Score: 5

Explanation: This is a neutral disclosure of insider transactions, with no inherent positive or negative implications for the company's performance.

Industry Context

This filing is a routine disclosure of insider transactions, which are common in publicly traded companies. It provides transparency into the actions of company executives regarding their holdings of company stock.

Comparison to Industry Standards

• Form 4 filings are standard practice for publicly traded companies in the US, ensuring transparency of insider transactions.
• Similar filings are made by executives at comparable financial institutions like Bank of America (BAC) and JPMorgan Chase (JPM) when they trade company stock.

Stakeholder Impact

• The filing provides transparency to shareholders regarding executive compensation and stock ownership.

Key Dates