Vecchione Kenneth 4

What Happened
Kenneth Vecchione, President & CEO and a director of Western Alliance Bancorporation (WAL), converted/exercised derivative units and immediately disposed of the resulting 1,571 shares to the issuer on March 15, 2026. The sales were reported as dispositions to the issuer at $67.97 per share: 539 shares ($36,636), 437 shares ($29,703), and 595 shares ($40,442), for total proceeds of about $106,781. Transaction codes reported: M = exercise/conversion of derivative; D = disposition to the issuer.

Key Details

• Transaction date: March 15, 2026. Form filed March 17, 2026 (within the typical 2-business-day reporting window).
• Price: $67.97 per share for the three dispositions. Total value ≈ $106,781.
• Shares converted/exercised (acquired) then disposed: 539 + 437 + 595 = 1,571 shares.
• Shares owned after the transaction: Not specified in the filing.
• Relevant footnotes:
  • F1, F3, F4 — The units underlying these conversions vest monthly (1/36th) over 36-month schedules beginning March 2024, March 2025, and March 2026, respectively, and are payable solely in cash.
  • F2 — Each unit is the economic equivalent of one share of WAL common stock.
  • F5 — Separately notes shares held in the 401(k) plan (employer match) as of 3/5/2026.
• Transaction types: M = exercise/conversion of derivative; D = disposition to the issuer. The filing does not state the specific reason for the disposition (e.g., tax withholding, cash settlement).

Context
These transactions involved converting derivative units that are economically equivalent to shares and then surrendering/selling those shares back to the company (disposition to the issuer). Because the units are described as payable solely in cash and vest monthly, these conversions and dispositions are consistent with routine vesting/settlement activity rather than an open-market sale. The filing is informational and does not provide motivation for the transactions.