Form 4: Western Alliance Bancorporation: Chief Credit Officer Reports Transaction in Company Stock
SEC Filing (Form 4)
Lynne Herndon, Chief Credit Officer of Western Alliance Bancorporation, reports a transaction involving the vesting and cash settlement of restricted stock units.
Summary
- On March 15, 2024, Lynne Herndon, the Chief Credit Officer of Western Alliance Bancorporation, reported a transaction.
- The transaction involved the vesting of 35 cash-settled restricted stock units.
- Ms. Herndon also disposed of 35 shares of common stock at a price of $57.98.
- Following the reported transactions, Ms. Herndon directly owns 829 shares of common stock and 1,207 cash-settled restricted stock units.
- These units vest monthly over a 36-month period, starting in March 2024 and ending in February 2027.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing an insider transaction, which is neutral in sentiment.
Industry Context
This filing is a routine disclosure of insider transactions, which are common in publicly traded companies. It provides transparency into the trading activities of company executives.
Comparison to Industry Standards
- Form 4 filings are standard practice for publicly traded companies in the US, ensuring transparency in insider trading activities.
- 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 transaction has a minimal direct impact on stakeholders.
- It provides transparency to shareholders regarding executive compensation and stock ownership.
Key Dates
| Date | Description |
|---|---|
| 03/15/2024 | Date of transaction: vesting of restricted stock units and disposal of common stock. |
| 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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