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WESTERN ALLIANCE BANCORPORATION·4

Jun 17, 5:18 PM ET

GIBBONS DALE 4

Research Summary

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WESTERN ALLIANCE (WAL) Vice Chair Dale Gibbons Sells Shares

What Happened

  • Dale Gibbons, Vice Chair and Chief Banking Officer (Deposits) of Western Alliance Bancorporation (WAL), converted vested derivative units (Form 4 code M) and immediately disposed of the resulting 726 shares to the issuer (code D) on June 15, 2026. The dispositions were reported at $81.81 per share, producing gross cash proceeds of approximately $59,394 (285 + 212 + 229 = 726 shares).
  • The conversion entries show an acquisition price of $0.00 for the units (reflecting conversion of vested units) and the subsequent disposition to the issuer at $81.81 per share. This is effectively a cash settlement of vested units rather than an open-market sale or a purchase.

Key Details

  • Transaction date: 2026-06-15; Filing date: 2026-06-17 (timely filed within the Form 4 window).
  • Prices and amounts: three conversions/acquisitions of 285, 212 and 229 units at $0.00, followed by dispositions of the same share counts at $81.81 each; total cash ≈ $59,394.
  • Total shares involved: 726 shares converted/disposed (285 + 212 + 229).
  • Shares owned after the transactions: not specified in the provided filing excerpt.
  • Relevant footnotes:
    • F1/F3/F4 — the units represent awards that vest and are payable solely in cash in monthly installments over 36-month schedules beginning March 2024, March 2025, and March 2026, respectively.
    • F2 — each unit is the economic equivalent of one share of common stock.
    • F5 — reflects 401(k) holdings including employer match as of 6/11/2026.
  • Transaction codes: M = exercise/conversion of derivative security; D = disposition to the issuer.

Context

  • This filing reflects conversion/cash settlement of vested awards with proceeds paid by the issuer (i.e., immediate disposition to the company), not an open-market purchase or speculative trade. Such cash-settled conversions are routine for vested units and often reflect standard payout/tax-withholding procedures rather than a directional bet on the stock.
  • No 10b5-1 plan or gifting designation was disclosed in the provided excerpt.