Western Alliance (WAL) CLO Jessica Jarvi Sells 168 Shares

What Happened
Jessica H. Jarvi, Chief Legal Officer and Secretary of Western Alliance Bancorporation (WAL), had vested derivative units convert on August 15, 2026 and the resulting 168 shares were disposed to the issuer at $82.32 per share. The three conversions/dispositions were for 58, 46 and 64 shares respectively, producing aggregate proceeds of approximately $13,830. These were not open-market purchases; they represent conversion/settlement of vested units and immediate disposition to the company.

Key Details

• Transaction date(s): August 15, 2026; Form 4 filed August 18, 2026.
• Price: Dispositions to issuer at $82.32 per share.
• Shares: 58 + 46 + 64 = 168 shares disposed; total proceeds ≈ $13,830.
• Post-transaction holdings: Not specified in the excerpt; filing notes 401(k) holdings (including employer match) as of 8/6/2026 (Footnote F5).
• Footnotes: F1–F4 describe monthly cash-settled vesting schedules (units vest 1/36th monthly over various March-to-February 36-month periods); F2 clarifies each unit equals the economic equivalent of one WAL share.
• Filing timeliness: Transactions reported on a Form 4 filed 3 days after the transaction; no late-filing flag indicated.

Context
The record shows conversion/exercise of cash-settled units (derivative conversions) followed by disposition to the issuer — effectively an immediate cash settlement or "sell-to-issuer" rather than an open-market sale. Such transactions typically reflect routine vesting and cash settlement of equity awards and should not be interpreted as an explicit bullish or bearish signal about the company.