Company: WAL-PA
Filing Date: 2025-04-23
Form Type: DEF 14A
Source: 0000950170-25-057334
Chunk: 46

Company: WESTERN ALLIANCE BANCORPORATION
Filing Date: 2025-04-23
Form: DEF 14A
Chunk 46
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 materially in the future.

| Name      |     | 2024 Value 
        ($) |     | Underlying Shares 
           (#) (1) |
| VECCHIONE |     |  2,000,000 |     |            33,496 |
| GIBBONS   |     |  1,250,000 |     |            20,935 |
| CURLEY    |     |    575,000 |     |             9,630 |
| BRUCKNER  |     |    550,000 |     |             9,212 |
| BOOTHE    |     |    337,500 |     |             5,653 |

| (1) | The number of underlying shares was based on our closing stock price as of the grant date ($59.71 as of June 16, 2024), rounded up to the nearest whole share. |

Realizable P ay vs. Target Pay The Company sets ambitious incentive goals to provide executives with an opportunity to share in the value they help create. Reaching the goals and, in turn, earning the target pay, is not guaranteed. The Company's pay program is designed to diminish if results fall below expectations in a manner that is aligned with stockholders' interests. The Company strongly believes in the pay-for-performance orientation of our executive pay programs. To illustrate this, the following is a description of target pay as opposed to realizable pay at the Company. The pay that is granted is presented in the summary compensation table (page 55 ). Realizable pay is the actual base and bonus paid and an estimate of unvested long-term compensation that is “earnable” after share price movements, vesting and performance against goals. Realizable pay provides a forward-looking estimate of pay earnable based on current performance conditions. The graphics below show the difference between target pay and realizable pay for the CEO for the periods 2021-2023 and 2022-2024 to illustrate the alignment of the Company's pay programs with stockholders:

| · | In our assessment last year, the 3-year average realizable pay from 2021-2023 was 27% lower than the totals reflected in the summary compensation table. This was  due to share price declines and below-target actual and estimated payouts on PSUs granted during that period.  |
| · | As a result of share price declines, the average long-term incentive realizable value was 43% lower than the L