Company: WAL-PA
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001628280-25-047883
Chunk: 101

Company: WESTERN ALLIANCE BANCORPORATION
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 1
Chunk 101
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8 million, respectively, compared to $0.4 million and $0.8 million for the respective periods in 2024.Deferred Stock UnitsIn 2024, the Company began granting deferred stock unit awards to certain members of its management team, which are intended to provide supplemental executive retirement benefits on an unfunded, unsecured basis. These awards can be settled in either stock or cash, at the Company's option. Participants are credited dividend equivalent units for any cash dividends paid with respect to the shares of stock underlying the stock units. These awards vest on the later of (i) the one-year anniversary of the grant date and (ii) the participant's satisfaction of age- and service-related eligibility criteria for a qualified retirement. The aggregate grant date fair value for these deferred stock unit awards granted during the three and nine months ended September 30, 2025 less than $0.1 million and $1.6 million, respectively, compared to $0.1 million and $5.7 million for the three and nine months ended September 30, 2024, respectively. Stock compensation expense related to these deferred stock units is included in Salaries and employee benefits in the Consolidated Income Statement. For the three and nine months ended September 30, 2025, the Company recognized stock-based compensation expense related to these stock grants of $0.4 million and $3.4 million, respectively, compared to $1.4 million and $1.9 million for the three and nine months ended September 30, 2024, respectively.

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Common Stock RepurchaseDuring the three and nine months ended September 30, 2025, the Company's BOD approved a common stock repurchase program pursuant to which the Company is authorized to repurchase up to $300 million of its shares common stock. During the three and nine months ended September 30, 2025, the Company repurchased 119,588 shares of its common stock. The shares were repurchased at a weighted average price of $88.50, for a total payment of $10.6 million. There were no share repurchases during the comparable periods in 2024. As of September 30, 2025, the aggregate remaining approved amount under the stock repurchase program is approximately $289 million.Preferred StockThe Company issued and has outstanding 12,000,000 depositary shares, each representing a 1/400th ownership interest in a share of the Company’s 4.250%