Vecchione Kenneth 4

What Happened

• Kenneth Vecchione, President & CEO and a director of Western Alliance Bancorporation (WAL), exercised/conversion of derivative units and immediately disposed of the resulting 1,571 shares to the issuer on May 15, 2026.
• The transactions break down as 539, 437 and 595 shares sold at $74.42 each, producing aggregate proceeds of approximately $116,914. The Form 4 shows corresponding exercise/conversion (code M) and disposition to issuer (code D) entries.

Key Details

• Transaction date: 2026-05-15; sale price: $74.42 per share.
• Shares disposed: 539 + 437 + 595 = 1,571 shares; total proceeds ≈ $116,914.
• The filing was submitted on 2026-05-19 (within the two-business-day Form 4 filing requirement).
• Footnotes:
  • F1/F3/F4: These units vest and are payable solely in cash on a 1/36th monthly schedule (different grants beginning March 2024, March 2025, and March 2026).
  • F2: Each unit is the economic equivalent of one share of WAL common stock.
  • F5: Reflects shares held in the 401(k) plan (including employer match) as of 5/14/2026.
• Amount owned following the reported transactions is not specified in the provided excerpt of the filing.

Context

• The pattern—exercise/conversion of derivative units followed immediately by a disposition to the issuer—effectively results in a cash receipt rather than a long-term shareholding. Such sell-to-issuer or cash-settlement patterns are commonly used to realize value or satisfy withholding obligations; the filing itself shows both the conversion and the immediate disposition.