Bruckner Tim R 4

What Happened

• Tim R. Bruckner, Chief Banking Officer (Regional Banking) of Western Alliance Bancorporation, was granted 3,346 cash‑settled units on Feb 15, 2026 and on the same date exercised/converted derivatives that resulted in 1,205 shares being surrendered to the issuer to satisfy tax/exercise obligations. The surrendered shares were disposed at $93.20 each, totaling $112,306.
• The filing shows several derivative exercises (acquisitions of shares from option/award conversion) followed immediately by share dispositions/payments to the issuer (tax withholding or exercise price payment), i.e., a cashless-like settlement for taxes/exercise rather than an open‑market sale.

Key Details

• Transaction date: 2026-02-15; Form 4 filed 2026-02-18 (no indication of a late filing in provided data).
• Prices and amounts: 1,205 shares disposed at $93.20/share (total ≈ $112,306). Grant of 3,346 units reported at $0 (cash‑settled units).
• Nature of awards: footnotes indicate these units are cash‑settled and vest/pay out 1/36th monthly over 36 months (see F1/F3 for vesting schedules).
• Shares owned after transaction: not specified in the supplied filing details.
• Transaction types: A = award/grant, M = exercise/conversion of derivative, F = payment of exercise price/tax liability, D = disposition to issuer (used to satisfy tax/price obligations).

Context

• The transaction appears routine: cash‑settled unit award plus derivative exercises with shares surrendered to cover taxes/exercise (common tax withholding/cashless settlement), not an open‑market sale signaling a change in investment stance.
• For retail investors, awards and routine tax withholding by insiders are common and do not necessarily indicate bullish or bearish views; purchases or open‑market buys typically carry clearer sentiment signals.