Western Alliance (WAL) CBO Tim R. Bruckner Exercises Units, Sells Shares

What Happened

• Tim R. Bruckner, Chief Banking Officer (CBO) for Regional Banking at Western Alliance Bancorporation, exercised/converted vested derivative units and immediately transferred (disposed) the resulting 415 shares to the issuer on 2026-09-15. The disposals were reported at $79.03 per share for total proceeds of $32,797.
• The filings show three conversion events (158, 115, and 142 shares) followed by corresponding dispositions to the issuer. The reported acquisition price for the derivative conversions was $0 (indicating vesting/conversion rather than a cash purchase).

Key Details

• Transaction date: 2026-09-15; Filing date: 2026-09-17 (filed within two business days).
• Shares disposed: 158 + 115 + 142 = 415 shares.
• Price per share on disposition: $79.03; Total proceeds reported: $12,487 + $9,088 + $11,222 = $32,797.
• Transaction codes: M = exercise/conversion of derivative; D = disposition to the issuer.
• Shares owned after the transaction: not specified in the provided excerpt — see the full Form 4 for total holdings.
• Footnotes: F2 = each unit equals one share of common stock; F1, F3, F4 = these units vest and are payable solely in cash on a 1/36 monthly schedule (starting March 2024, March 2025, and March 2026, respectively).

Context

• The sequence (exercise/convert followed immediately by disposition to the issuer) is commonly used to settle vested awards or satisfy withholding obligations; here the filing shows the units are cash-payable and economically equivalent to shares per the footnotes.
• This was a disposition (sale/settlement) rather than a purchase; such transactions often reflect routine vesting or tax-related settlement rather than an expression of buying or selling sentiment.