WESTERN ALLIANCE BANCORPORATION 8-K

What Happened

• Western Alliance Bancorporation (WAL) filed an 8-K reporting that on December 19, 2025 its Compensation Committee established the Western Alliance Bancorporation Executive Stock and Bonus Deferral Plan. The Plan is an unfunded, nonqualified deferred compensation arrangement that lets certain designated executives (generally members of the Executive Leadership Team) defer portions of annual cash bonuses and certain stock awards.

Key Details

• Eligibility: Committee may designate qualifying employees, generally Executive Leadership Team members.
• Deferral choices: executives may elect to defer 0%, 25%, or 50% of each eligible form of compensation for a Plan year.
• Form of deferral and payout: deferrals are credited as deferred stock units (subject to original award vesting) and may earn dividend equivalents; upon separation, participants receive payments in either two or three annual installments (or lump sum to a beneficiary on death).
• Plan mechanics and limits: the Plan is unfunded, allows no Company contributions, and deferred cash bonuses are subject to the Company’s Dodd‑Frank Clawback Policy. The full Plan text is filed as Exhibit 10.1.

Why It Matters

• For investors, this affects how certain senior executives will receive and recognize portions of compensation (more compensation paid later and converted into deferred stock units). It can influence executive retention and tax/timing of compensation expense but does not itself change reported earnings today. The Plan also codifies clawback protections for deferred cash bonuses, which is relevant to governance and risk oversight.