Form 4: Western Alliance Bancorporation Executive Lynne Herndon Reports Stock Transactions

Lynne Herndon, Chief Credit Officer of Western Alliance Bancorporation, reports the vesting and disposal of cash-settled restricted stock units and the acquisition of restricted stock units.

Summary

• On June 15, 2024, Lynne Herndon, Chief Credit Officer of Western Alliance Bancorporation, reported transactions involving the company's stock.
• Herndon disposed of 35 shares of common stock at a price of $58.61.
• She also disposed of 35 cash-settled restricted stock units, which vest monthly over a 36-month period starting in March 2024.
• Additionally, on June 17, 2024, Herndon acquired 2,010 restricted stock units that are payable upon her qualified retirement from the company.
• Following these transactions, Herndon directly owns 829 shares of common stock and 2,010 restricted stock units.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing stock transactions, indicating a neutral sentiment.

Industry Context

This filing is a routine disclosure of stock transactions by a company executive, which is common in the financial industry to ensure transparency and compliance with securities regulations.

Comparison to Industry Standards

• Executive stock transactions are a standard practice across publicly traded companies, including those in the banking sector like JPMorgan Chase, Bank of America, and Citigroup.
• These companies' executives also regularly file Form 4s to report changes in their beneficial ownership of company stock.
• The vesting schedules and terms of restricted stock units are generally comparable across the industry, often tied to tenure and performance.

Stakeholder Impact

• The reported transactions may have a minor impact on shareholders as they reflect insider activity, but the amounts are relatively small.

Key Dates