Western Alliance Names New CFO, Robert Stein Transitions
Ticker: WAL-PA · Form: 8-K · Filed: Jul 30, 2024 · CIK: 1212545
| Field | Detail |
|---|---|
| Company | Western Alliance Bancorporation (WAL-PA) |
| Form Type | 8-K |
| Filed Date | Jul 30, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.0001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: executive-change, cfo, compensation
Related Tickers: WABC
TL;DR
New CFO at Western Alliance starting Aug 12, current CFO moves to advisor. Base salary $500k.
AI Summary
Western Alliance Bancorporation announced on July 29, 2024, the appointment of Douglas L. Schaer as Chief Financial Officer, effective August 12, 2024. Schaer will succeed Robert R. Stein, who will transition to a senior advisory role. Schaer's annual base salary will be $500,000, with potential for a bonus and equity awards.
Why It Matters
A change in CFO can signal shifts in financial strategy or management priorities. Investors will watch to see if the new CFO brings a different approach to financial reporting and capital allocation.
Risk Assessment
Risk Level: medium — Changes in key executive positions, especially the CFO, can introduce uncertainty regarding future financial strategies and performance.
Key Numbers
- $500,000 — CFO Base Salary (Annual compensation for the newly appointed CFO, Douglas L. Schaer.)
Key Players & Entities
- Western Alliance Bancorporation (company) — Registrant
- Douglas L. Schaer (person) — Appointed Chief Financial Officer
- August 12, 2024 (date) — Effective date of new CFO appointment
- Robert R. Stein (person) — Outgoing Chief Financial Officer
- $500,000 (dollar_amount) — Annual base salary for new CFO
FAQ
What is the effective date for Douglas L. Schaer's appointment as CFO?
Douglas L. Schaer's appointment as Chief Financial Officer is effective August 12, 2024.
What will be Robert R. Stein's new role?
Robert R. Stein will transition to a senior advisory role within the company.
What is the annual base salary for the new CFO?
The annual base salary for Douglas L. Schaer will be $500,000.
What other compensation is mentioned for the new CFO?
In addition to his base salary, Douglas L. Schaer is eligible for an annual bonus and equity awards.
When was this report filed?
This Form 8-K was filed on July 30, 2024, reporting events as of July 29, 2024.
Filing Stats: 595 words · 2 min read · ~2 pages · Grade level 13.9 · Accepted 2024-07-30 16:13:20
Key Financial Figures
- $0.0001 — ange on which registered Common Stock, $0.0001 Par Value WAL New York Stock Exchange
Filing Documents
- wal-20240729.htm (8-K) — 28KB
- 0001212545-24-000219.txt ( ) — 197KB
- wal-20240729.xsd (EX-101.SCH) — 3KB
- wal-20240729_def.xml (EX-101.DEF) — 17KB
- wal-20240729_lab.xml (EX-101.LAB) — 30KB
- wal-20240729_pre.xml (EX-101.PRE) — 17KB
- wal-20240729_htm.xml (XML) — 4KB
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits The following exhibits are being filed herewith: (d) Exhibits. Exhibit No. Description 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. WESTERN ALLIANCE BANCORPORATION (Registrant) /s/ Dale Gibbons Dale Gibbons Vice Chairman and Chief Financial Officer Date: July 30, 2024