Form 4: Western Alliance Bancorporation Executive Barbara Kennedy Reports Stock Transactions
SEC Form 4
Barbara Kennedy, Chief Human Resources Officer at Western Alliance Bancorporation, reports the vesting and disposal of restricted stock units and common stock transactions.
Summary
- On July 15, 2024, Barbara Kennedy, Chief Human Resources Officer of Western Alliance Bancorporation, reported transactions involving common stock and cash-settled restricted stock units.
- Kennedy acquired 101 shares of common stock upon the vesting of restricted stock units, which are payable solely in cash monthly over a 36-month period starting in March 2024 and ending in February 2027.
- Simultaneously, Kennedy disposed of 101 shares of common stock at a price of $69.84 per share.
- Following these transactions, Kennedy directly owns 19,060 shares of common stock and indirectly owns 22,797 shares through the Barbara and Ted Kennedy TTEE Kennedy Family Trust.
- Kennedy also directly owns 3,119 cash-settled restricted stock units.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions, with no inherent positive or negative sentiment. It's a factual report.
Industry Context
This filing is a routine disclosure of stock transactions by a company executive, which is common in publicly traded companies. It provides transparency into the executive's holdings and transactions in the company's stock.
Comparison to Industry Standards
- Executive stock transactions are a standard practice in publicly traded companies like Western Alliance Bancorporation.
- Similar filings are made by executives at comparable financial institutions such as Bank of America, JP Morgan Chase, and Wells Fargo.
- The reporting requirements are governed by Section 16(a) of the Securities Exchange Act of 1934, ensuring transparency in executive compensation and stock ownership.
Stakeholder Impact
- The filing provides transparency to shareholders regarding executive stock transactions.
- It assures stakeholders that executive compensation is aligned with company performance through equity-based incentives.
Key Dates
| Date | Description |
|---|---|
| 03/2024 | Restricted stock units begin vesting, payable monthly over 36 months. |
| 07/15/2024 | Date of the reported stock and derivative transactions. |
| 07/17/2024 | Date of signature for the Form 4 filing. |
| 02/2027 | Restricted stock units vesting period ends. |
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