Western Alliance Bancorporation: chief risk officer Emily Nachlas sold 189 shares

What happened

• Emily Nachlas, chief risk officer, exercised or converted derivative units and disposed of 72, 53 and 64 shares on Oct 15, 2026. The filing shows exercises at $0.00 for 72, 53 and 64 shares and corresponding dispositions to the issuer at $74.35 for 72 ($5,353), 53 ($3,941) and 64 ($4,758), totaling $14,052.
• The filing also lists related derivative exercise/disposition entries for 72, 53 and 64 shares with price and amount marked N/A (derivative).

Key details

• Transaction date: Oct 15, 2026. Filing date: Oct 19, 2026.
• Reported transactions and amounts:
  • Exercise (M): 72 shares @ $0.00 (acquired); Disposition to issuer (D): 72 shares @ $74.35 for $5,353.
  • Exercise (M): 53 shares @ $0.00 (acquired); Disposition to issuer (D): 53 shares @ $74.35 for $3,941.
  • Exercise (M): 64 shares @ $0.00 (acquired); Disposition to issuer (D): 64 shares @ $74.35 for $4,758.
  • Related derivative disposition entries for 72, 53 and 64 shares show price/amount N/A (derivative).
• Shares owned after the transaction: not reported in the filing.
• Footnotes from the filing:
  • F1: units vest and are payable solely in cash, 1/36th on the 15th of each month from Mar 2024 through Feb 2027.
  • F2: each unit is the economic equivalent of one share of common stock.
  • F3: units vest and are payable solely in cash, 1/36th monthly from Mar 2025 through Feb 2028.
  • F4: units vest and are payable solely in cash, 1/36th monthly from Mar 2026 through Feb 2029.

Why it may matter

• The filing shows derivative units were exercised/converted and the resulting shares were disposed to the issuer on the same day (cashless/issuer disposition).
• Some derivative-related dispositions are recorded with N/A for price and amount (derivative settlement).
• A Form 4 filing does not show why the insider traded or why the company acted.