Boothe Timothy W 4

What Happened
Timothy W. Boothe, Chief Administration Officer of Western Alliance Bancorporation (WAL), was granted 2,151 cash‑settled units (each unit = economic equivalent of one share) on 2026-02-15. To satisfy tax and related obligations tied to option exercises/conversions, Boothe surrendered a total of 766 shares (600 + 97 + 69) at $93.20 per share (total value surrendered = $71,391). The filing also reports several exercises/conversions of derivatives (codes M) on 2026-02-15 and 2026-02-17 with subsequent dispositions to the issuer.

Key Details

• Transaction dates: primary grant and many actions on 2026-02-15; one derivative exercise/conversion reported on 2026-02-17.
• Prices and values disclosed: shares surrendered at $93.20 each; amounts = $55,920 (600 shares) + $9,040 (97 shares) + $6,431 (69 shares) = $71,391 total. Some derivative dispositions are reported as N/A for dollar value.
• Shares awarded: 2,151 cash‑settled units granted (economic equivalent of 2,151 shares).
• Shares surrendered/withheld: 766 shares surrendered/withheld to the issuer to cover tax/obligations.
• Footnotes of note: F1 and F3 — these units vest and are payable solely in cash in monthly installments (1/36th) over multi‑year schedules (Mar 2024–Feb 2027 and Mar 2025–Feb 2028). F2 — each unit equals one share economically.
• Filing timeliness: Report filed 2026-02-18 for transactions on 2026-02-15; appears filed within the normal 2-business‑day Form 4 window (not marked late).
• Shares owned after transaction: not specified in the provided filing summary.

Context

• The grant appears to be cash‑settled restricted stock unit(s) (RSUs) — these pay out cash equal to the value of the underlying shares as the units vest (per footnotes).
• The surrendered shares (codes F and D) are consistent with withholding or share surrender to satisfy tax liabilities or exercise costs (a form of cashless settlement).
• Derivative code M indicates option exercise or conversion; where exercised shares were immediately surrendered to the issuer, there was no open‑market sale reported.

Bottom line: Boothe received a multi‑year, cash‑settled award of 2,151 units and had 766 shares surrendered/withheld at $93.20/share for tax/obligation purposes, totaling about $71.4K.