Company: WAL-PA
Filing Date: 2025-04-23
Form Type: DEF 14A
Source: 0000950170-25-057334
Chunk: 13

Company: WESTERN ALLIANCE BANCORPORATION
Filing Date: 2025-04-23
Form: DEF 14A
Chunk 13
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 separation of the Chair role from the CEO role is in the best interest of the Company. In maintaining the separation of the roles of CEO and Chair, the Board believes that a separate chairperson will more effectively lead the Board in evaluating the performance of management, including the CEO, guide the Board through appropriate governance processes, and lead the Board in managing and responding to the current economic and political environment. Under the Company’s Bylaws, the Chair of the Board is a discretionary position whose sole stated duty is to preside at meetings of the Board and meetings of stockholders, as well as to perform such other duties as assigned to such person by the Board from time to time, including but not limited to: assisting with setting the Board agenda, leading the Board in evaluating the CEO, and reviewing candidates to serve on the Board. The independent directors agreed that having an independent director serve as Chair at this time reinforces their objectivity.

The Board has determined that Bruce D. Beach is independent within the meaning of the director independence standards set forth by the NYSE and subject to his re-election, has been re-appointed to serve as the Board’s Chair for the 2025-2026 director term. Prior to becoming Chair in 2022, Mr. Beach served as the Company’s Lead Independent Director since 2010 and has substantial management experience and financial expertise.

board Meetings

In 2024, the Board of Directors held nine special and regular meetings. Each current director attended at least 75% of the meetings of the Board of Directors and meetings of committees on which he or she served in 2024. The Company invites and encourages all of its directors to attend the Company’s annual meetings of stockholders, and in 2024, 15 of the 16 then-serving directors attended the 2024 annual meeting of stockholders (Mr. Galant did not attend).

Executive sessions of non-management/independent directors (consisting of all directors other than Mr. Vecchione) were periodically scheduled and held during the Company’s quarterly Board of Directors meetings. In 2024, the Board held five executive sessions. Mr. Beach presided over these executive sessions of the non-management/independent directors.

| 18 | 2025 PROXY STATEMENT |

| CORPORATE GOVERNANCE |

Board Role in Risk Oversight Risk is inherent in the Company's activities as a financial institution. Under the Company’s governance structure and applicable law, the Board of Directors is ultimately responsible for overseeing the Company’s risk management processes and sets the tone for a strong