Form 4: Western Alliance CBO's RSU Cash Settlement

Western Alliance Bancorporation's CBO for Regional Banking, Tim R. Bruckner, reported the cash settlement of 273 restricted stock units on January 15, 2026, reducing his direct common stock beneficial ownership.

Summary

• Tim R. Bruckner, the CBO for Regional Banking at Western Alliance Bancorporation (WAL), reported transactions on January 15, 2026.
• The transactions involved the vesting and subsequent cash settlement of Cash Settled Restricted Stock Units (CSRSUs).
• A total of 158 CSRSUs, which began vesting monthly in March 2024, were settled for cash equivalent to $89.83 per unit.
• An additional 115 CSRSUs, which began vesting monthly in March 2025, were also settled for cash equivalent to $89.83 per unit.
• Each CSRSU is the economic equivalent of one share of Western Alliance Bancorporation common stock.
• Following these settlements, Bruckner's direct beneficial ownership of common stock decreased by a net 273 shares, from 24,917 to 24,759.

Sentiment

Score: 5

Explanation: The filing reports a routine insider transaction involving the vesting and cash settlement of restricted stock units, which is a standard part of executive compensation. It does not indicate any significant positive or negative developments for the company.

Positives

• The vesting of Cash Settled Restricted Stock Units represents a component of executive compensation, indicating the fulfillment of performance or tenure conditions.

Negatives

• The cash settlement of restricted stock units, while a form of compensation, results in a reduction of the officer's direct beneficial ownership of common stock by 273 shares, which could be interpreted as a slight decrease in direct alignment with shareholder interests.

Future Outlook

This filing does not contain any forward-looking statements or guidance regarding the company's future outlook.

Industry Context

This is a routine insider transaction report related to executive compensation and does not provide specific insights into broader industry trends or competitive positioning.

Stakeholder Impact

• Shareholders: A minor, routine impact due to executive compensation, with a slight reduction in the officer's direct beneficial ownership of common stock.

Next Steps

• Continued monthly vesting of the remaining Cash Settled Restricted Stock Units for Tim R. Bruckner according to the established schedules.

Key Dates

Recommendation

This Form 4 reports a routine insider transaction related to executive compensation (vesting and cash settlement of restricted stock units). It does not provide sufficient information to alter a fundamental investment thesis for Western Alliance Bancorporation, hence a 'hold' recommendation is appropriate based solely on this filing.

Keywords

WESTERN ALLIANCE BANCORPORATION, WAL, Form 4, Insider Transaction, Executive Compensation, Restricted Stock Units, Cash Settlement, Tim R. Bruckner, CBO Regional Banking