Form 4: Western Alliance Bancorporation Vice Chairman Dale Gibbons Reports Stock Transactions
SEC Form 4 Filing
Dale Gibbons, Vice Chairman and CFO of Western Alliance Bancorporation, reports the vesting and cash settlement of restricted stock units and associated stock disposals.
Summary
- On May 15, 2024, Dale Gibbons, the Vice Chairman and CFO of Western Alliance Bancorporation, reported transactions involving the company's common stock.
- Gibbons disposed of 285 shares of common stock to satisfy the vesting of cash-settled restricted stock units.
- The disposal was related to the monthly vesting of restricted stock units, which vest in increments of 1/36th each month over a 36-month period starting in March 2024 and ending in February 2027.
- The price of the stock disposed of was $64.79 per share.
- Following the reported transactions, Gibbons directly owns 294,726 shares of Western Alliance Bancorporation common stock.
- Gibbons also indirectly owns 613 shares through a 401K plan.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing detailing stock transactions by a company executive. It doesn't contain information that would significantly sway investor sentiment positively or negatively.
Industry Context
Form 4 filings are standard disclosures for corporate insiders and provide transparency into their trading activities. This filing indicates routine vesting of restricted stock units, a common form of executive compensation.
Key Dates
| Date | Description |
|---|---|
| 05/02/2024 | Date of employer match for shares held in the 401K Plan. |
| 05/15/2024 | Date of the reported stock transactions (disposal of shares due to vesting of restricted stock units). |
| 05/17/2024 | Date of signature for the Form 4 filing. |
| February 2027 | End date of the 36-month vesting period for the restricted stock units. |
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