Piper Sandler (NYSE: PIPR) president gets 6,191-share equity award

Rhea-AI Filing Summary

Piper Sandler Companies president Debbra L. Schoneman received a grant of 6,191 shares of common stock on February 26, 2026 as a performance share unit award. The award vested based on adjusted return on equity and relative total shareholder return measured from January 1, 2023 through December 31, 2025.

On the same date, 2,824 shares were disposed of to cover tax obligations, leaving 6,305 shares held directly. An additional 57,069 shares are held indirectly through revocable living trusts where Schoneman and a spouse serve as co‑trustees.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Schoneman Debbra L.

(Last) (First) (Middle)

350 NORTH 5TH STREET, SUITE 1000

(Street)

MINNEAPOLIS MN 55401

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
PIPER SANDLER COMPANIES [ PIPR ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	President

3. Date of Earliest Transaction (Month/Day/Year)
02/26/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	02/26/2026		A		6,191	A	$0(1)	9,129	D
Common Stock	02/26/2026		F		2,824	D	$0	6,305	D
Common Stock								57,069(2)	I	Through Living Trust

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Each performance share unit represented a contingent right to receive one share of PIPR common stock. The performance share units vested 163% overall, with 126% vesting of the portion of the award based on attaining certain levels of adjusted return on equity and 200% vesting of the portion of the award based on relative total shareholder return within a group of peer companies, both as measured from January 1, 2023 through December 31, 2025.

2. These shares are held in revocable living trusts, of which the reporting person and the reporting person's spouse are co-trustees.

Remarks:

	/s/ James Grant for Debbra L. Schoneman	03/02/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What insider transactions did PIPER SANDLER COMPANIES (PIPR) report for Debbra L. Schoneman?

Piper Sandler reported that president Debbra L. Schoneman received a grant of 6,191 shares of common stock and disposed of 2,824 shares for tax withholding. After these movements, she held 6,305 shares directly and 57,069 shares indirectly through revocable living trusts.

How many PIPR shares did Debbra L. Schoneman acquire in the latest Form 4 filing?

Schoneman acquired 6,191 shares of Piper Sandler common stock as a grant classified as a performance share unit award. The transaction carried a reported price of $0.0000 per share, reflecting an equity compensation grant rather than an open-market purchase of stock.

Why did Debbra L. Schoneman dispose of PIPER SANDLER COMPANIES (PIPR) shares in this filing?

Schoneman disposed of 2,824 shares in a tax-withholding transaction, using shares to satisfy tax obligations linked to the equity award. This was reported under transaction code F, which indicates payment of exercise price or tax liability by delivering previously awarded securities.

What is Debbra L. Schoneman’s direct and indirect ownership in PIPR after these transactions?

After the reported transactions, Schoneman directly owned 6,305 shares of Piper Sandler common stock. She also had indirect ownership of 57,069 shares held through revocable living trusts, where she and her spouse act as co-trustees overseeing those trust-held positions.

How were the performance share units for PIPER SANDLER COMPANIES (PIPR) structured in Schoneman’s award?

Each performance share unit represented a contingent right to receive one PIPR share. The units vested 163% overall, with 126% vesting tied to adjusted return on equity and 200% vesting tied to relative total shareholder return over January 1, 2023 to December 31, 2025.

Who controls the PIPER SANDLER COMPANIES (PIPR) shares held in trusts for Debbra L. Schoneman?

The indirectly reported PIPR shares are held in revocable living trusts where Schoneman and a spouse are co-trustees. As co-trustees, they oversee the trust assets, which include the 57,069 shares of Piper Sandler common stock noted as indirectly owned in the filing.