Kennedy Barbara 4

What Happened
Barbara Kennedy, Chief Human Resources Officer of Western Alliance Bancorporation, exercised/converted cash-settled equity units and immediately disposed of the resulting shares to the issuer on March 15, 2026. Transactions shown: 101 shares sold at $67.97 for $6,865; 74 shares sold at $67.97 for $5,030; and 82 shares sold at $67.97 for $5,574 — a total of 257 shares and roughly $17,469. The exercises show $0.00 exercise price (awards/units settled in cash or net-settled), and the dispositions to the issuer reflect a sale/surrender of the shares.

Key Details

• Transaction date: 2026-03-15; filing date: 2026-03-17 (filed two days after the transaction).
• Share price on disposition: $67.97. Total proceeds reported ≈ $17,469.
• Reported activities: multiple "M" (exercise/conversion of derivative) entries and "D" (disposition to issuer) entries. Some derivative-line dispositions are listed with N/A dollar amounts as they reflect conversion/settlement mechanics.
• Shares owned after the transaction: not shown in the excerpt provided.
• Footnotes: F1–F4 indicate these units are cash-settled and vest monthly (1/36th) over three-year schedules beginning March 2024, March 2025, and March 2026; F2 notes each unit equals the economic equivalent of one share.

Context
This looks like exercises/conversions of company awards or restricted-unit-style awards that were cash-settled or net-surrendered to the issuer rather than open-market purchases. Dispositions to the issuer are commonly used to satisfy tax withholding or effect net settlement and are routine executive compensation settlements rather than directional buy/sell signals.