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|4Feb 9, 4:22 PM ET

Kennedy Barbara 4

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Western Alliance (WAL) CHRO Barbara Kennedy Receives Stock Award

What Happened

  • Barbara Kennedy, Chief Human Resources Officer of Western Alliance Bancorporation (WAL), received awards on Feb 5, 2026 totaling 4,939 units across three grant lines. The filing shows acquisitions coded as "A" (grant/award): two lines of 988 units each listed at $0.00 and a third line of 2,963 units reported as a derivative with N/A price. These are awards/Deferred Stock Units (not open-market purchases or sales) and carry vesting/payment conditions rather than representing immediately tradable shares.

Key Details

  • Transaction date: 2026-02-05; Form 4 filed: 2026-02-09 (four days later — filing appears late relative to the transaction).
  • Total units awarded: 4,939 (988 + 988 + 2,963). Two lines show $0.00 per unit; one line shows N/A. No cash exchanged.
  • Transaction code: A = Award/Grant. Some entries are marked as "derivative" (deferred stock units rather than immediate common shares).
  • Shares owned after the transaction: Not disclosed in the provided filing excerpt.
  • Relevant footnotes:
    • F1: Units are Deferred Stock Units under the issuer’s plans, representing the deferred portion of an executive restricted stock award; 50% vests on the second and third anniversaries and are paid in shares issued under the plan after separation from service.
    • F2: Each unit is economically equivalent to one share of common stock.
    • F3: A portion of the units vest and are payable solely in cash: 1/36th on the 15th day of each month from March 2026 through February 2029.

Context

  • These awards are compensation-related grants (not purchases or sales) and therefore do not necessarily signal insider bullish or bearish market activity. The filing indicates deferred units and cash-settled units with multi-year vesting/payment schedules; deferred stock units generally convert to shares (or cash) only under the plan’s conditions and/or upon separation from service. The form was filed a few days after the transaction date, which is later than typical Form 4 timing rules and may be noted by compliance observers.