Western Alliance (WAL) CFO Vishal Idnani Exercises Derivative, Sells 123 Shares

What Happened

• Vishal Idnani, Chief Financial Officer of Western Alliance Bancorporation (WAL), exercised a derivative on Sep 15, 2026 and the resulting 123 shares were disposed to the issuer the same day. The disposition price was $79.03 per share, for total proceeds of $9,721.
• The Form 4 shows an acquisition entry (exercise/conversion, code M) for 123 shares at $0.00 and a same-day disposition (code D) of 123 shares at $79.03. A separate derivative entry for 123 units is also recorded with N/A pricing.

Key Details

• Transaction date: 2026-09-15; filing date: 2026-09-17 (filed within the Form 4 reporting window).
• Acquired: 123 shares via exercise/conversion (code M) at $0.00.
• Disposed: 123 shares to the issuer (code D) at $79.03, total proceeds $9,721.
• Shares owned after the reported transaction: not specified in the filing.
• Footnotes: F1 — the units vest and are payable solely in cash over 36 months (1/36th monthly from Mar 2026–Feb 2029). F2 — each unit is the economic equivalent of one share of Western Alliance common stock.
• No 10b5-1 plan, tax-withholding specifics, or late filing flag were reported.

Context

• Because the exercise and the disposition occurred the same day, this functions like a cashless exercise/sale: the derivative was converted and the shares were immediately transferred back to the issuer for cash. The footnotes indicate these units are cash-settled and economically tied to one share each, which helps explain the cash disposition treatment. This is a routine corporate/compensation-related transaction rather than an open-market buy or sell by the insider.