Form 4: Western Alliance Bancorporation Executive Reports Stock Transactions
SEC Form 4 Filing
Jessica H. Jarvi, CLO & Secretary of Western Alliance Bancorporation, reports the vesting and cash settlement of restricted stock units and a related stock disposal.
Summary
- On March 15, 2024, Jessica H. Jarvi, CLO & Secretary of Western Alliance Bancorporation, reported transactions involving common stock and cash-settled restricted stock units.
- 58 restricted stock units vested and were settled in cash.
- Ms. Jarvi disposed of 58 shares of common stock at a price of $57.98 per share.
- Following these transactions, Ms. Jarvi directly owns 12,162 shares of common stock and indirectly owns 2,075 shares through a WAL 401(k) plan.
- The restricted stock units vest monthly over a 36-month period, beginning in March 2024 and ending in February 2027.
Sentiment
Score: 5
Explanation: This is a routine regulatory filing related to executive compensation. It doesn't indicate any significant positive or negative sentiment.
Future Outlook
The reporting person will continue to receive monthly vesting of restricted stock units until February 2027.
Industry Context
Form 4 filings are a routine part of regulatory compliance for corporate insiders and provide transparency into their transactions in company stock. This filing indicates standard compensation practices at Western Alliance Bancorporation.
Comparison to Industry Standards
- Executive compensation packages often include restricted stock units that vest over time, aligning executive interests with long-term shareholder value.
- The vesting schedule of 1/36th per month is a fairly standard vesting schedule.
- The reporting requirements for insider transactions are consistent across publicly traded companies.
Stakeholder Impact
- The transactions have a minimal impact on shareholders as they represent a small portion of the total outstanding shares.
- The vesting of restricted stock units is part of the executive compensation plan, which is designed to incentivize and retain key personnel.
Key Dates
| Date | Description |
|---|---|
| 03/07/2024 | Date to include employer match in 401K Plan |
| 03/15/2024 | Date of transaction: vesting of restricted stock units and stock disposal |
| 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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