Company: WAL-PA
Filing Date: 2025-04-23
Form Type: DEF 14A
Source: 0000950170-25-057334
Chunk: 37

Company: WESTERN ALLIANCE BANCORPORATION
Filing Date: 2025-04-23
Form: DEF 14A
Chunk 37
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 the CEO, whose compensation is recommended by the Compensation Committee and approved by the Board of Directors. In evaluating and approving the compensation of executive officers other than the CEO, the Compensation Committee received input from Mr. Vecchione and considered its own assessment of their performance as it has frequent exposure to these officers.

| 2025 PROXY STATEMENT | 43 |

| EXECUTIVE COMPENSATION |

Annual Base Salary

The Company views a competitive annual base salary as a crucial component to attract and retain executive talent. Following the final year of Mr. Vecchione's employment letter agreement, the Company no longer has employment letter agreements with the CEO or any other NEO. Adjustments to annual base salary in 2025 were based on performance and not predetermined. Please see the “Employment, Noncompetition and Indemnification Agreements” section on page69of this proxy statement for additional details. In 2024, the Compensation Committee determined the base salaries for all executive officers (including the NEOs) after considering the Consultant’s market analysis, recommendations from Mr. Vecchione, and making its own assessments regarding individual performance, experience and other factors.

2024 Salary Determination

In February 2024, the Compensation Committee reviewed the base salaries for all executive officers. The Board approved Mr. Vecchione’s base pay increase of 7.0% in accordance with the last year of his letter agreement (before it lapsed at the end of 2024). With respect to the remaining NEOs, the Compensation Committee awarded base increases of 5% for Messrs. Gibbons, Curley and Bruckner, and 3.5% for Mr. Boothe. The increases were to recognize individual performance in 2024, as well as in consideration of market positioning relative to peers.

Annual Bonus Plan

The Western Alliance Bancorporation Annual Bonus Plan (“Annual Bonus Plan”) is designed to create a strong alignment of pay-for-performance and is intended to motivate and retain qualified employees by providing the potential for an annual cash award based on the Company’s achievement of pre-determined performance criteria. The Annual Bonus Plan serves the Company’s compensation objective by rewarding executives for the attainment of short- and long-term financial performance goals.

The Annual Bonus Plan is designed to provide market competitive payouts for the achievement of threshold, target, and maximum performance goals. Establishment of the performance levels (threshold, target, and maximum) takes into account all factors that management and the Compensation Committee deem relevant, including market conditions and an assessment of a