Company: WAL
Filing Date: 2025-12-22
Form Type: 8-K
Source: 0001628280-25-058538
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Company: WESTERN ALLIANCE BANCORPORATION
Filing Date: 2025-12-22
Form: 8-K
Item: Item 5.02
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ITEM 5.02. DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS.

On December 19, 2025, the Compensation Committee of the Board of Directors (the “ Committee”) of Western Alliance Bancorporation (the “ Company”) established the Western Alliance Bancorporation Executive Stock and Bonus Deferral Plan (the “ Plan”). The Plan is an unfunded nonqualified deferred compensation plan designed to provide certain select employees of the Company the opportunity to defer the payment of a portion of annual cash bonus and certain stock compensation.

The Plan permits the Committee to designate qualifying employees as eligible executives, which are generally limited to the members of the Company’s Executive Leadership Team.

Each Plan year the Plan permits designated executives to elect to defer 0%, 25%, or 50% of each form of eligible compensation earned during the applicable Plan year. The Plan does not permit Company contributions. Deferrals are credited to the participant’s account as deferred stock units. Deferred stock compensation remains subject to the underlying award’s vesting schedule. Deferred stock compensation is further eligible to earn dividend equivalents if a cash dividend is paid with respect to the shares of stock underlying such deferred stock unit.

Upon a participant’s separation from service, a participant’s account will be distributed based on the participant’s payment election made at the time of deferral. A participant can elect to have deferrals paid (1) as either two or three annual installments following separation from service for any annual cash bonus deferred for the Plan year, and (2) either two or three annual installments following separation from service for any stock compensation deferred for the Plan year.

Upon the death of the participant, any outstanding, vested balance under the participant’s account will be paid to the participant’s beneficiary in a single lump sum.

Any portion of an annual cash bonus deferred to a participant’s account is subject to the Company’s Dodd-Frank Clawback Policy.

The foregoing summary of the terms and conditions of the Plan is not a complete description of the document. Accordingly, the foregoing is qualified in its entirety by reference to the full text of the Plan included as Exhibit 10.1 to this Current Report on Form 8-K, which is incorporated herein by reference.