Business Context and Reporting Period
This Form 8-K Current Report was filed by Western Alliance Bancorporation on April 7, 2023. The filing reports a change in the composition of the Board of Directors, specifically the resignation of a director and the appointment of a replacement.
Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on corporate governance changes and does not contain financial performance data.
Material Changes
- Director Resignation: Patricia Arvielo resigned from the Boards of Directors of Western Alliance Bancorporation and Western Alliance Bank effective April 7, 2023.
- Reason for Resignation: The resignation is due to Ms. Arvielo's desire to focus on existing commitments. The filing explicitly states there is no disagreement regarding the Company's operations, policies, or practices.
- Director Appointment: Mary Tuuk Kuras was appointed as a director to fill the vacancy created by Ms. Arvielo's resignation.
- Term and Committees: Ms. Kuras will serve until the 2023 annual meeting of stockholders (scheduled for June 14, 2023) and will stand for election. She has been appointed to the Risk Management Committee and the Finance & Investment Committee.
Guidance, Outlook, and Risks
The filing contains no financial guidance, outlook, or management commentary regarding future performance. No new risks or contingencies were disclosed in this report. The appointment of Ms. Kuras is subject to standard compensation arrangements for non-employee directors as described in the Company's proxy statement.
Key Facts for Investor Verification
- Verify the independence and background of the newly appointed director, Mary Tuuk Kuras.
- Confirm the date of the 2023 annual meeting of stockholders (June 14, 2023) to track the election of Ms. Kuras.
- Review the Company's proxy statement filed on April 29, 2022, to understand the standard compensation structure applicable to Ms. Kuras.
- Note that this filing does not impact the Company's financial statements or operational metrics.