Curley Stephen Russell, president and CEO of both Eagle Bancorp (EGBN) and Western Alliance Bancorporation (WAL), has filed 57 Form 4 transactions across the two companies. The pattern is one-sided: zero open-market purchases and zero share acquisitions through grants or option exercises with positive value. The entire disclosed dollar flow, $285,303.68, comes from sales, and nearly all of it is concentrated in WAL.
The recent WAL activity is mechanical rather than discretionary. On May 15, 2026, Russell reported three transactions coded "D" (sale back to the issuer) with values of $10,865.32, $9,600.18, and $12,279.30, each paired with an "M" (option exercise) at zero value. The same structure repeats on April 15, 2026, with sales of $10,127.79 and $12,954.15, and on March 15, 2026, with sales of $9,923.62, $8,768.13, and $11,215.05. February 15, 2026, shows sales of $12,022.80 and $15,378.00. These are routine quarterly dispositions of shares acquired through option exercises, with the proceeds going back to the issuer to cover exercise costs or taxes.
The EGBN filings are all code "A" (grant or award) dated August 10, 2026, each with a value of zero. These are compensation awards, not purchases, and they carry no cash consideration. Russell has not made a single open-market purchase in either stock during the period covered. His buying bias is absent; the selling bias is entirely a function of scheduled option-related transactions, not discretionary market sales. The total sell value of $285,303.68 across 57 filings is modest for a dual CEO, and the most recent activity, the EGBN grants, adds no cash to his position.
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