Bruckner Tim R 4
4 · WESTERN ALLIANCE BANCORPORATION · Filed May 19, 2026
Research Summary
AI-generated summary of this filing
Western Alliance (WAL) CBO Tim Bruckner Exercises & Sells 415 Shares
What Happened
Tim Bruckner, CBO for Regional Banking at Western Alliance (WAL), exercised/converted vested derivative units (economic equivalents of common shares) and immediately disposed of the resulting 415 share-equivalents to the issuer on May 15, 2026. The disposals were at $74.42 per share-equivalent: 158 shares ($11,758), 115 shares ($8,558) and 142 shares ($10,568), for total cash proceeds of $30,884. The acquisitions show $0.00 exercise cost, indicating cash-settled vested units rather than a purchase.
Key Details
- Date: 2026-05-15 (reported on Form 4 filed 2026-05-19) — filing appears late (filed 4 days after the transactions).
- Transaction specifics: Exercised/converted derivative units (coded M) then disposed to issuer (coded D) at $74.42 per share-equivalent. Totals: 415 shares sold for $30,884.
- Exercise cost: $0.00 for the acquired share-equivalents (cash-settled units).
- Shares owned after transaction: Not specified in the provided filing.
- Footnotes: Units are cash-settled and vest monthly (1/36th) under schedules beginning March 2024, March 2025 and March 2026; each unit equals one share of common stock (see F1–F4).
Context
These transactions reflect vested, cash-settled equity units being converted and immediately surrendered to the issuer for cash (a common net/cash settlement), not an open-market sale. For retail investors, such cash-settled vesting is routine compensation monetization and does not necessarily signal a change in the insider’s outlook on the stock.
Insider Transaction Report
- Exercise/Conversion
Common Stock
[F1][F2]2026-05-15+158→ 29,226 total - Disposition to Issuer
Common Stock
2026-05-15$74.42/sh−158$11,758→ 29,068 total - Exercise/Conversion
Common Stock
[F3][F2]2026-05-15+115→ 29,183 total - Disposition to Issuer
Common Stock
2026-05-15$74.42/sh−115$8,558→ 29,068 total - Exercise/Conversion
Common Stock
[F4][F2]2026-05-15+142→ 29,210 total - Disposition to Issuer
Common Stock
2026-05-15$74.42/sh−142$10,568→ 29,068 total - Exercise/Conversion
Cash Settled Restricted Stock Units
[F2][F1]2026-05-15−158→ 1,429 total→ Common Stock (158 underlying) - Exercise/Conversion
Cash Settled Restricted Stock Units
[F2][F3]2026-05-15−115→ 2,413 total→ Common Stock (115 underlying) - Exercise/Conversion
Cash Settled Restricted Stock Units
[F2][F4]2026-05-15−142→ 4,677 total→ Common Stock (142 underlying)
Footnotes (4)
- [F1]These units vest and are payable solely in cash as follows: 1/36th on the 15th day of each month during the 36-month period beginning March 2024 and ending February 2027.
- [F2]Each unit is the economic equivalent of one share of Western Alliance Bancorporation common stock.
- [F3]These units vest and are payable solely in cash as follows: 1/36th on the 15th day of each month during the 36-month period beginning March 2025 and ending February 2028.
- [F4]These units vest and are payable solely in cash as follows: 1/36th on the 15th day of each month during the 36-month period beginning March 2026 and ending February 2029.