Form 4: Western Alliance Bancorporation Executive Lynne Herndon Reports Stock Transactions
SEC Form 4 Filing
Lynne Herndon, Chief Credit Officer of Western Alliance Bancorporation, reports the vesting and cash settlement of restricted stock units and the disposition of shares to cover taxes.
Summary
- On September 15, 2024, Lynne Herndon, Chief Credit Officer of Western Alliance Bancorporation, reported transactions involving the company's common stock and cash-settled restricted stock units.
- 35 restricted stock units vested and were settled in cash.
- Concurrently, 35 shares were disposed of at a price of $81.91 to satisfy tax obligations.
- Following these transactions, Herndon directly owns 829 shares of common stock and 997 cash-settled restricted stock units.
Sentiment
Score: 5
Explanation: This is a routine filing related to executive compensation and does not inherently indicate positive or negative sentiment. It reflects standard corporate practices.
Future Outlook
The remaining restricted stock units will continue to vest monthly until February 2027.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. These filings are closely watched by investors seeking insights into management's perspective on the company's stock.
Stakeholder Impact
- The transactions have a minimal impact on shareholders as they are related to executive compensation and tax obligations.
Key Dates
| Date | Description |
|---|---|
| 03/2024 | Restricted stock units begin vesting, 1/36th on the 15th day of each month. |
| 09/15/2024 | Date of transaction: vesting of restricted stock units and disposition of shares. |
| 09/17/2024 | Date of signature on the Form 4 filing. |
| 02/2027 | Restricted stock units end vesting. |
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