Kennedy Barbara 4

What Happened
Barbara Kennedy, Chief Human Resources Officer at Western Alliance Bancorporation (WAL), exercised/conversion of 257 vested units (101 + 74 + 82) and immediately disposed/sold those shares to the issuer on April 15, 2026. The shares were sold at $78.51 each for total proceeds of approximately $20,178. The exercise/conversion showed no cash exercise price (reported $0.00), indicating these were vested, cash-settled equity units converted and paid out.

Key Details

• Transaction date: April 15, 2026. Sale price: $78.51 per share. Total proceeds: ~ $20,178 (101×$78.51 + 74×$78.51 + 82×$78.51).
• Reported actions: “M” = exercise/conversion of derivative units; “D” = disposition to the issuer (sale back to company).
• Exercise price: reported as $0.00 for the acquired units (no cash paid on conversion).
• Shares owned after the transaction: not specified in this Form 4 filing.
• Filing timeliness: Form filed April 17, 2026; appears to be timely (filed within required reporting window).
• Footnotes: filing notes these are units payable solely in cash and vest monthly (1/36th per month) under different grant vintages; each unit is the economic equivalent of one share.

Context
These entries reflect the conversion/settlement of vested equity units that were promptly paid/sold back to the company (a cash settlement), not an open-market purchase or sale intended as a directional bet. For retail investors, this is generally a routine cash-settlement of compensation rather than a buy signal.