Jarvi Jessica H 4

What Happened

• Jessica H. Jarvi, Chief Legal Officer & Secretary of Western Alliance Bancorporation (WAL), had vested derivative units converted and immediately surrendered the resulting shares to the issuer on July 15, 2026. The transactions show exercises/conversions (code M) of 58, 46 and 64 units and corresponding dispositions to the issuer (code D) at $81.79 per share, producing cash proceeds of $4,744, $3,762 and $5,235 respectively (total ≈ $13,741). These were settlements of vested units rather than an open-market sale.

Key Details

• Transaction date: July 15, 2026; Form 4 filed July 17, 2026 (appears timely).
• Breakdown:
  • 58 units converted → surrendered at $81.79 → proceeds $4,744
  • 46 units converted → surrendered at $81.79 → proceeds $3,762
  • 64 units converted → surrendered at $81.79 → proceeds $5,235
  • Total shares affected: 168; total cash received ≈ $13,741
• Transaction codes: M = exercise/conversion of derivative; D = disposition to issuer (shares surrendered/paid to company).
• Shares owned after the transaction: not specified in the provided filing excerpt.
• Footnotes:
  • F1/F3/F4: These units are paid solely in cash and vest monthly (1/36th) over three separate 36‑month schedules beginning March 2024, March 2025, and March 2026.
  • F2: Each unit is the economic equivalent of one share of WAL common stock.
  • F5: unrelated note about 401(k) holdings as of 7/9/2026.

Context

• This was effectively a cash settlement of vested restricted units (economic equivalents of shares), not an open-market sale. The sequence — conversion/exercise followed by disposition to the issuer — is consistent with net/cash settlement where vested units are converted and paid out in cash (company withholds or accepts shares instead of delivering stock).
• These routine vesting/settlement transactions are administrative and do not necessarily signal a change in insider conviction; they differ from voluntary open-market purchases or sales.