Western Alliance (WAL) Vice Chair Dale Gibbons Sells Shares after Option Exercises

What Happened

• Dale Gibbons, Vice Chair and Chief Banking Officer (Deposits) of Western Alliance Bancorporation (WAL), executed derivative conversions/exercises and immediately disposed of the resulting shares to the issuer on August 15, 2026. The transactions show exercises/conversions of 285, 212 and 229 units (total 726 units/shares) and corresponding dispositions to the issuer at $82.32 per share.
• The three dispositions totaled 726 shares sold for aggregate proceeds of approximately $59,764 (285 x $82.32 = $23,461; 212 x $82.32 = $17,452; 229 x $82.32 = $18,851). The exercise entries show $0.00 per share, indicating no cash exercise price recorded for the derivative conversion.

Key Details

• Transaction date: August 15, 2026. Filing date: August 18, 2026 (check Form 4 for timeliness explanation; deadline depends on business-day rules).
• Transaction codes: M = exercise/conversion of derivative; D = disposition to issuer (shares surrendered/sold to company).
• Shares involved: 285, 212, and 229 (total 726). Total proceeds from dispositions: ~$59,764 at $82.32 per share.
• Shares owned after the transactions: not specified in the excerpt provided—see the full Form 4 for reported post-transaction holdings and any 401(k) balances (footnote F5 notes 401(k) holdings including employer match as of 8/6/2026).
• Relevant footnotes:
  • F1–F4: The units convert from vested awards/units that vest monthly over 36-month schedules (starting Mar 2024, Mar 2025, and Mar 2026) and are payable in cash; F2 clarifies each unit is the economic equivalent of one share.
  • F5: Reflects 401(k) plan shares including employer match as of 8/6/2026.

Context

• These entries reflect exercises/conversions of derivative awards (M) followed by dispositions to the issuer (D). Dispositions to the issuer commonly represent shares surrendered to the company to satisfy tax withholding or other obligations tied to award settlement rather than an open-market sale; the Form 4 lists the disposition price at $82.32.
• This is routine compensation-related activity rather than an open-market purchase or sale indicating directional sentiment. For full details (total holdings, whether the sale was for tax withholding, and filing timeliness), consult the complete Form 4 filing.