GIBBONS DALE 4

What Happened
Dale Gibbons, Vice Chair and Chief Banking Officer (Deposits) of Western Alliance Bancorporation, exercised/converted vested derivative units and immediately disposed of a total of 726 shares (285 + 212 + 229) to the issuer on March 15, 2026. Each share was disposed at $67.97, producing total proceeds of approximately $49,346. These transactions are sales/cash settlements rather than open-market purchases.

Key Details

• Transaction date: March 15, 2026; filing date: March 17, 2026 (appears timely under Form 4 rules).
• Disposition price: $67.97 per share. Total disposed: 726 shares for ~$49,346.
• Transactions reported as: Exercise/conversion of derivative (code M) followed by disposition to issuer (code D).
• Shares owned after transaction: not disclosed in the excerpt provided; consult the full Form 4 for ownership totals.
• Relevant footnotes from the filing:
  • F1/F3/F4: These units are cash-settled and vest monthly over 36-month schedules beginning March 2024, March 2025, and March 2026, respectively.
  • F2: Each unit is the economic equivalent of one share of common stock.
  • F5: Reflects 401(k) holdings (including employer match) as of 3/5/2026.
• No 10b5-1 plan or late-filing flag shown in the provided excerpt.

Context

• The pattern (exercise/conversion at $0.00 then immediate disposition to the issuer) indicates a cash-settlement of vested awards (units that represent the economic equivalent of shares) rather than a market purchase or open-market sale. Such settlements commonly convert vested units into cash proceeds and/or satisfy tax withholding obligations.
• This is a routine insider liquidity event tied to compensation vesting; it should not be interpreted on its own as a buy/sell signal about company prospects. For full ownership information and exact grant-to-transaction mapping, review the complete Form 4 filing (Accession No. 0001628280-26-018786).