Nachlas Emily 4

What Happened

• Emily Nachlas, Chief Risk Officer of Western Alliance Bancorporation, converted/ exercised vested derivative units and immediately disposed of the resulting shares to the issuer on June 15, 2026. She converted a total of 189 units (72 + 53 + 64) and the issuer purchased those shares at $81.81 each, producing total cash proceeds of $15,462 (72×81.81 = $5,890; 53×81.81 = $4,336; 64×81.81 = $5,236).
• The exercise/conversion entries show $0.00 exercise price for some conversions (i.e., no cash paid to convert). The filings also include related derivative settlement lines reported as N/A (these reflect the derivative award/settlement mechanics rather than separate cash transactions).

Key Details

• Transaction date: June 15, 2026; Per-share price for dispositions: $81.81.
• Shares/units involved: 72, 53 and 64 units (total 189 units); total proceeds: $15,462.
• Shares owned after the transactions: Not specified in the provided filing excerpt.
• Footnotes: Units vest and are payable solely in cash. F1–F4 show three award vintages with monthly vesting (1/36th monthly) beginning March 2024, March 2025, and March 2026; each unit equals the economic equivalent of one common share.
• No indication in the provided data of a 10b5-1 plan or late filing.

Context

• This appears to be a routine cash settlement of vested equity-based units (derivative awards) rather than an open-market sale. Nachlas converted vested units with no exercise cost and the resulting shares were surrendered to the issuer for cash at $81.81/share (a cash-settlement/cashless-style outcome).
• Such transactions are typically administrative (vesting and tax/settlement-related) and do not necessarily signal a change in the insider’s view of the company.