Curley Stephen Russell 4

What Happened

• Stephen Curley, Chief Banking Officer (non-broker) of Western Alliance Bancorporation, exercised derivative awards/units and immediately disposed of the resulting 440 shares to the issuer on March 15, 2026. The sales were 165 shares ($11,215), 129 shares ($8,768) and 146 shares ($9,924) at $67.97 per share, totaling roughly $29,907. The filings list acquisition entries at $0.00 (exercise/conversion of derivative) followed by disposition entries to the issuer at $67.97.

Key Details

• Transaction date: March 15, 2026; Filing date: March 17, 2026 (filed within the normal reporting window).
• Price on dispositions: $67.97 per share.
• Total shares sold: 440; total proceeds reported: ~$29,907.
• Shares owned after the transaction: not specified in the provided filing data.
• Footnotes: units are cash-settled/economic equivalents of one share (F2) and vest monthly under different schedules: 3-year monthly vesting beginning March 2024 (F1), March 2025 (F3), and March 2026 (F4). These entries appear tied to vested units that are payable in cash or settled upon vesting.

Context

• The filing shows exercise/conversion of derivative awards (code M) followed by disposition to the issuer (code D), which typically indicates immediate sale or cash settlement rather than a long-term open-market sale. Such transactions are often routine (e.g., to satisfy tax withholding or to cash out vested units) and do not by themselves signal insider confidence or concern.