GIBBONS DALE 4

What Happened

• Dale Gibbons, Vice Chair and Chief Banking Officer, Deposits at Western Alliance (WAL), had three cash‑settled stock unit awards vest and be converted on July 15, 2026. A total of 726 units (285 + 212 + 229) were recorded as acquired at $0 (vesting) and immediately disposed to the issuer at $81.79 per share, generating total proceeds of $59,379.
• These transactions are recorded as exercise/conversion of derivatives (code M) followed by disposition to the issuer (code D). This appears to be routine cash settlement of vested units rather than an open‑market sale.

Key Details

• Transaction date: 2026-07-15. Disposition price: $81.79 per share.
  • 285 shares → $23,310
  • 212 shares → $17,339
  • 229 shares → $18,730
  • Total proceeds ≈ $59,379
• Shares owned after the transactions: not specified in the provided filing excerpts.
• Relevant footnotes:
  • F1, F3, F4 — the units vest and are payable solely in cash, 1/36th monthly over 36 months (grants beginning Mar 2024, Mar 2025, Mar 2026 respectively).
  • F2 — each unit = economic equivalent of one share of common stock.
  • F5 — reflects shares held in 401(k) including employer match as of 7/9/2026.
• Filing appears timely (transaction and report date both 2026-07-15); no late filing flag shown.

Context

• These were cash‑settled unit vestings (not open‑market purchases or sales of previously held shares). The units were converted/settled and immediately surrendered to the issuer—commonly done to cover tax withholding or to receive cash value—so this action does not necessarily signal a change in insider sentiment.
• Transaction codes: M = exercise/conversion of a derivative ( unit conversion ), D = disposition to issuer.