Herndon Lynne 4

What Happened Lynne Herndon, Chief Credit Officer of Western Alliance Bancorporation (WAL), was granted equity awards on February 5, 2026. The filing shows a grant of 659 shares at $0.00 (no purchase price) and 987 derivative units (reported as an acquisition with price N/A). The 659-share grant has no cash outlay; the 987 units are cash‑settled equivalents rather than immediate share ownership.

Key Details

• Transaction date: 2026-02-05 (reported on Form 4 filed 2026-02-09).
• Grants: 659 shares @ $0.00 (acquired); 987 derivative units (price N/A).
• Filing timeliness: Filed 2026-02-09 for a 2026-02-05 transaction — appears timely (within two business days).
• Shares owned after transaction: Not disclosed in the provided excerpt.
• Transaction code: A = Award/Grant.
• Footnotes:
  • F1: Each unit is the economic equivalent of one share of WAL common stock.
  • F2: The 987 units vest and are payable solely in cash: 1/36th on the 15th of each month from March 2026 through February 2029.

Context These grants are compensation awards, not open‑market purchases or sales, and do not indicate an immediate buying or selling of shares. The 987 units are cash‑settled and vest monthly over three years, meaning Herndon will receive cash tied to the economic value of one share per unit as they vest rather than receiving tradable stock.