Form 4: Western Alliance Bancorporation Executive Timothy Boothe Reports Stock Transactions
SEC Form 4 Filing
Timothy Boothe, Chief Administration Officer at Western Alliance Bancorporation, reported the vesting and settlement of restricted stock units and a subsequent sale of common stock.
Summary
- Timothy Boothe, Chief Administration Officer of Western Alliance Bancorporation, filed a Form 4 detailing changes in his beneficial ownership of the company's stock.
- On December 15, 2024, 97 cash-settled restricted stock units vested, which were economically equivalent to 97 shares of common stock.
- These units are part of a plan that vests 1/36th of the total units monthly over a 36-month period from March 2024 to February 2027.
- Following the vesting, Mr. Boothe sold 97 shares of common stock at a price of $91.09 per share.
- After these transactions, Mr. Boothe directly owns 62,513 shares of common stock and indirectly owns 325 shares through his spouse, Alvina Boothe.
- He also holds 2,525 cash-settled restricted stock units.
Sentiment
Score: 5
Explanation: The document is a routine filing of stock transactions, which is neither positive nor negative in itself. It reflects standard executive compensation practices.
Industry Context
This is a routine filing related to executive compensation and stock ownership, which is common in the financial services industry.
Comparison to Industry Standards
- Executive stock transactions are a common practice in publicly traded companies, particularly in the financial sector.
- The vesting schedule of the restricted stock units, with monthly vesting over a 36-month period, is a typical approach for long-term incentive plans.
- The sale of shares following vesting is also a common practice for executives to realize the value of their compensation.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they reflect routine executive compensation and do not indicate any significant change in the company's performance or outlook.
Key Dates
| Date | Description |
|---|---|
| 12/15/2024 | Date of the stock unit vesting and stock sale. |
| 12/17/2024 | Date the Form 4 was signed. |
Keywords
Form 4, Beneficial Ownership, Stock Transactions, Restricted Stock Units, Western Alliance Bancorporation, Executive Compensation, Insider Trading
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