Business Context and Reporting Period
Company: Western Alliance Bancorporation
Filing Type: Form 8-K (Current Report)
Date of Report: June 4, 2019
Event: Annual Meeting of Stockholders and Board Authorization of Dividends
Key Financial Metrics
This filing does not contain financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity metrics. The document focuses on corporate governance events and shareholder voting results.
Material Changes and Corporate Actions
Dividend Initiation
The Board of Directors authorized the initiation of regular quarterly dividends, effective in the third quarter of 2019. The Board approved a quarterly dividend of $0.25 per share. The initial declaration is scheduled for July 30, 2019, with record and payment dates expected in August.
Annual Meeting Voting Results
96,559,497 shares were voted, representing 92.41% of the 104,480,791 shares outstanding. All proposals were approved:
- Proposal 1 (Election of Directors): Thirteen directors were elected to one-year terms expiring in 2020. Voting support ranged from approximately 80.9% (Donald D. Snyder) to 98.8% (Adriane McFetridge).
- Proposal 2 (Executive Compensation): Advisory vote approved with 85,750,195 votes for and 1,595,322 votes against.
- Proposal 3 (Ratification of Auditor): RSM US LLP was ratified as independent auditors for the fiscal year ending December 31, 2019, with 95,484,062 votes for and 1,048,439 votes against.
Guidance, Outlook, and Risks
The filing includes standard forward-looking statements regarding expectations for business, financial, and operating results. Management notes that actual results may differ due to various risks, including:
- Changes in general economic conditions and interest rates.
- Competitive pressures and loan portfolio defaults.
- Regulatory changes and supervisory actions.
- Changes in the allowance for credit losses.
The company disclaims any obligation to update these forward-looking statements.
Investor Verification Checklist
- Verify the official declaration date of the initial $0.25 quarterly dividend (expected July 30, 2019).
- Confirm the record and payment dates for the first dividend distribution (expected in August 2019).
- Review the full list of elected directors and their specific vote counts for governance analysis.
- Check subsequent filings for the formal declaration of the dividend and any changes to the payment schedule.