GIBBONS DALE 4

What Happened

• Dale Gibbons, Vice Chair and Chief Banking Officer (Deposits) of Western Alliance Bancorporation (WAL), received equity awards on 2026-02-05. The filing reports 5,488 shares acquired at $0.00 (reported value $0) and 8,232 derivative units (economic equivalents of common shares) granted at N/A. The 5,488 shares reflect a 401(k) holding that includes an employer match (footnote F1). The 8,232 units are cash‑settled and subject to a monthly vesting/payment schedule (see details below). These are grants/awards (transaction code A), not open‑market purchases or sales.

Key Details

• Transaction date: 2026-02-05; Form 4 filed 2026-02-09 (4 days after the transaction).
• 5,488 shares reported at $0.00 — described as 401(k) shares including employer match (F1).
• 8,232 derivative units granted (units are economically equivalent to one share each) — reported as N/A for price/value (F2).
• Vesting/payment for the 8,232 units: cash‑settled, vesting/payable monthly at 1/36th on the 15th of each month from March 2026 through February 2029 (F3).
• Shares owned after the transaction were not specified in the summary provided.
• This is an award/grant (compensation/benefit), not a sale or open‑market purchase.

Context for Retail Investors

• Employer matches and cash‑settled units are typically compensation rather than a direct market signal; they do not necessarily reflect the insider buying or selling stock on the open market.
• The derivative units will convert to cash value over three years as they vest monthly; they are not newly issued tradable shares.
• Note the Form 4 was filed a few days after the transaction date; SEC rules generally require reporting within two business days, so the filing timing is worth noting for timeliness, but no further inference about intent should be made.