Herndon Lynne 4

What Happened

• Lynne Herndon, Chief Credit Officer of Western Alliance Bancorporation, recorded exercises/conversions of derivative units and immediate dispositions to the issuer on March 15, 2026. In total 84 shares were disposed (35 + 22 + 27) at $67.97 per share for aggregate proceeds of approximately $5,709.
• The filing shows the exercises recorded at $0.00 cost (acquisitions) followed by dispositions to the issuer at $67.97. Transaction codes: M = exercise/conversion of a derivative; D = disposition to the issuer.

Key Details

• Transaction date: March 15, 2026; Form 4 filed March 17, 2026 (appears timely).
• Sales/prices: 35 shares @ $67.97 = $2,379; 22 shares @ $67.97 = $1,495; 27 shares @ $67.97 = $1,835; total ≈ $5,709.
• Shares owned after the transaction: not disclosed in the provided excerpt.
• Footnotes: units are economic equivalents of one share and vest/payable solely in cash on a monthly schedule:
  • F1: vesting 1/36th monthly from Mar 2024–Feb 2027
  • F3: vesting 1/36th monthly from Mar 2025–Feb 2028
  • F4: vesting 1/36th monthly from Mar 2026–Feb 2029
  • F2: each unit = economic equivalent of one share
• Filing notes multiple derivative entries (some reported with N/A amounts) associated with the conversions/exercises.

Context

• The pattern—exercise/conversion (M) immediately followed by disposition to the issuer (D)—means vested units were converted and then surrendered to the company for cash proceeds. Dispositions to the issuer are commonly used to settle award obligations or convert vested awards to cash; the footnotes confirm these units vest monthly and are payable in cash.
• This report documents insider sales/dispositions rather than open-market purchases; such sales are often routine and related to equity award mechanics rather than a public market signal.