Nachlas Emily 4
4 · WESTERN ALLIANCE BANCORPORATION · Filed Mar 17, 2026
Research Summary
AI-generated summary of this filing
Western Alliance (WAL) CRO Emily Nachlas Sells 189 Shares
What Happened
Emily Nachlas, Chief Risk Officer of Western Alliance Bancorporation, exercised/converted cash‑settled award units and had the resulting economic equivalent of shares paid out to the issuer for cash on March 15, 2026. The filing shows dispositions of 72, 53 and 64 shares at $67.97 each, producing proceeds of $4,894, $3,602 and $4,350 respectively — about $12,846 total. The exercises/conversions themselves were recorded at $0.00 cost (cash‑settled units).
Key Details
- Transaction date: March 15, 2026; filing date: March 17, 2026.
- Dispositions: 72 shares @ $67.97 = $4,894; 53 shares @ $67.97 = $3,602; 64 shares @ $67.97 = $4,350. Total ≈ $12,846.
- Three corresponding exercise/conversion (derivative) entries were reported; some derivative dispositions are listed with "N/A" price indicating cash settlement rather than an open‑market stock sale.
- Shares owned after the transaction are not stated in the provided excerpt of the Form 4.
- Footnotes indicate these were cash‑settled units (each unit equals one share economically) that vest monthly over multi‑year schedules (grants beginning March 2024, March 2025 and March 2026).
Context
These were cash‑settled award units (not an open‑market sale of shares). The units vest and are payable solely in cash on a monthly schedule, so the transactions represent routine vesting and payout rather than a discretionary open‑market trade. Such cash settlements typically reflect compensation vesting and tax/settlement procedures rather than an immediate market sentiment signal.
Insider Transaction Report
- Exercise/Conversion
Common Stock
[F1][F2]2026-03-15+72→ 16,647 total - Disposition to Issuer
Common Stock
2026-03-15$67.97/sh−72$4,894→ 16,575 total - Exercise/Conversion
Common Stock
[F3][F2]2026-03-15+53→ 16,628 total - Disposition to Issuer
Common Stock
2026-03-15$67.97/sh−53$3,602→ 16,575 total - Exercise/Conversion
Common Stock
[F4][F2]2026-03-15+64→ 16,639 total - Disposition to Issuer
Common Stock
2026-03-15$67.97/sh−64$4,350→ 16,575 total - Exercise/Conversion
Cash Settled Restricted Stock Units
[F2][F1]2026-03-15−72→ 789 total→ Common Stock (72 underlying) - Exercise/Conversion
Cash Settled Restricted Stock Units
[F2][F3]2026-03-15−53→ 1,214 total→ Common Stock (53 underlying) - Exercise/Conversion
Cash Settled Restricted Stock Units
[F2][F4]2026-03-15−64→ 2,241 total→ Common Stock (64 underlying)
Footnotes (4)
- [F1]These units vest and are payable solely in cash as follows: 1/36th on the 15th day of each month during the 36-month period beginning March 2024 and ending February 2027.
- [F2]Each unit is the economic equivalent of one share of Western Alliance Bancorporation common stock.
- [F3]These units vest and are payable solely in cash as follows: 1/36th on the 15th day of each month during the 36-month period beginning March 2025 and ending February 2028.
- [F4]These units vest and are payable solely in cash as follows: 1/36th on the 15th day of each month during the 36-month period beginning March 2026 and ending February 2029.