Company: WAL-PA
Filing Date: 2025-04-23
Form Type: DEF 14A
Source: 0000950170-25-057334
Chunk: 72

Company: WESTERN ALLIANCE BANCORPORATION
Filing Date: 2025-04-23
Form: DEF 14A
Chunk 72
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 the actual achievement of 0% for the 2022 performance share awards. The value of each share of restricted stock and performance share subject to accelerated vesting is equal to our common stock’s closing market price per share of $83.59 on December 31, 2024. Welfare & Other Benefits (Column 5) Represent the lump sum amount equal to the Company portion of the cost of continuing coverage under the Company’s group health benefits plan for the NEO and the NEO’s family (if the NEO qualifies for and elects that coverage) for a period of up to 24 months. Amounts are based on premiums paid on the executive’s behalf in 2024.

| 68 | 2025 PROXY STATEMENT |

| EXECUTIVE COMPENSATION |

Employment, Noncompetition and Indemnification Agreements

Employment Agreements

In 2022, the Company entered into a Letter Agreement with Mr. Vecchione, which governed the terms of his employment with the Company through 2024 and the letter agreement has expired on its own terms. The Letter Agreement provided that Mr. Vecchione will continue as CEO of the Company through 2024, reporting directly to the Board of Directors. Additionally, the Letter Agreement provides for an annual base salary of $1,500,000 in 2024. The Letter Agreement further provided for annual grants of performance-based stock units and restricted stock equal to the total dollar amount at the time of the awards of $3,750,000 in 2024, and participation rights in the Company’s bonus and incentive plans. Under the terms of the Letter Agreement, Mr. Vecchione participated in the Company’s Annual Bonus Plan with a target of 150% of his then-current salary, and Mr. Vecchione was entitled to participate in all employee benefit plans, practices, and programs maintained by the Company. The Letter Agreement concluded after the terms of the 2024 provisions were executed. Without a formal letter agreement in place, the Board retains greater flexibility to adjust Mr. Vecchione’s compensation structure based on performance, market conditions, and business needs without being contractually bound to fixed terms.

Noncompetition Agreements

In order to be eligible to receive benefits under the Severance Plan, each NEO must comply with the confidentiality, non-solicitation and non-disparagement covenants set forth in the Severance Plan. In addition, an executive whose employment terminates due to a Qualified Retirement or a Change in Control Termination must also comply