Nachlas Emily 4

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.