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 a disposition of shares to cover the settlement.
Summary
- On March 15, 2024, Dale Gibbons, the Vice Chairman and CFO of Western Alliance Bancorporation, reported transactions involving the company's common stock.
- 285 cash-settled restricted stock units vested and were payable in cash.
- 285 shares were disposed of at a price of $57.98.
- Following these transactions, Gibbons directly owns 294,726 shares of common stock and indirectly owns 613 shares through a 401K plan.
- The restricted stock units vest monthly over a 36-month period, starting 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 contain information that would significantly shift investor sentiment.
Future Outlook
The reporting person will continue to receive monthly vesting of cash-settled restricted stock units until February 2027.
Industry Context
Form 4 filings are a routine part of executive compensation and provide transparency into the trading activities of company insiders. This filing indicates the standard vesting of previously awarded compensation.
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 monthly is a common practice.
- Companies like JPMorgan Chase & Co and Bank of America also use similar equity-based compensation for their executives.
Stakeholder Impact
- The vesting of restricted stock units is part of the executive compensation plan, which is designed to align management's interests with those of the shareholders.
Key Dates
| Date | Description |
|---|---|
| 03/07/2024 | Date to include employer match in 401K Plan |
| 03/15/2024 | Date of stock transactions: vesting of restricted stock units and disposition of shares. |
| 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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