Was the PIPER SANDLER COMPANIES (PIPR) CFO share acquisition an open-market purchase?

The share acquisition was not an open-market purchase. The Form 4 classifies the 1,467-share increase as a grant, award, or other acquisition at a stated price of $0.0000 per share, indicating equity compensation rather than a market transaction.

Did the PIPER SANDLER COMPANIES (PIPR) CFO have net share accumulation in this filing?

Overall, the CFO had a net increase in directly owned shares. She received 1,467 shares through a grant and disposed of smaller amounts, 352 and 109 shares, for tax-withholding, ending with 11,431 common shares held directly after the transactions.

Piper Sandler CFO receives stock grant in Form 4

Piper Sandler Companies Chief Financial Officer Katherine Patricia Clune reported equity compensation activity in company common stock.

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Rhea-AI Filing Summary

Piper Sandler Companies Chief Financial Officer Katherine Patricia Clune reported equity compensation activity in company common stock. She acquired 1,467 shares on February 17, 2026 through a grant or award at a stated price of $0.0000 per share.

On the same date, 352 shares and 109 shares of common stock were disposed of in two separate transactions classified as tax-withholding dispositions to cover exercise price or tax liabilities. After these transactions, her directly owned common stock holdings totaled 11,431 shares.

Insider Trade Summary

3 transactions reported

Mixed 3 txns

Insider Clune Katherine Patricia

Role Chief Financial Officer

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	1,467	$0.00	$0.00
Exercise Price or Tax Liability	Common Stock	352	$0.00	$0.00
Exercise Price or Tax Liability	Common Stock	109	$0.00	$0.00

Holdings After Transaction: Common Stock — 11,431 shares (Direct)

FAQ

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What insider transactions did PIPER SANDLER COMPANIES (PIPR) report for Katherine Patricia Clune?

Piper Sandler Companies reported that Chief Financial Officer Katherine Patricia Clune received a grant of 1,467 common shares on February 17, 2026. The same day, 352 shares and 109 shares were disposed of to satisfy exercise price or tax liabilities through tax-withholding transactions.

How many PIPER SANDLER COMPANIES (PIPR) shares does the CFO hold after this Form 4?

After the reported transactions, Chief Financial Officer Katherine Patricia Clune directly owns 11,431 shares of Piper Sandler Companies common stock. This reflects the 1,467-share award and the two tax-withholding dispositions of 352 shares and 109 shares on February 17, 2026.

What does the tax-withholding disposition in the PIPR Form 4 mean?

The two dispositions of 352 and 109 shares are coded as tax-withholding transactions. This means shares were delivered to cover exercise price or tax liabilities associated with equity compensation, rather than being sold in the open market for discretionary portfolio reasons.

What role does Katherine Patricia Clune hold at PIPER SANDLER COMPANIES (PIPR)?

Katherine Patricia Clune serves as Chief Financial Officer of Piper Sandler Companies. The Form 4 identifies her as an officer, not a director or ten percent owner, and the reported transactions involve her directly held common stock in the company.

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Form 4 Insider Transactions: What Each Field Means →

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Accepted by SEC EDGAR 02/19/2026 - 04:14 PM EST

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

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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^*

Clune Katherine Patricia

(Last)

(First)

(Middle)

350 NORTH 5TH STREET, SUITE 1000

(Street)

MINNEAPOLIS

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)
	Chief Financial Officer

3. Date of Earliest Transaction (Month/Day/Year)
02/17/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	02/17/2026		A		1,467	A	$0	11,892	D
Common Stock	02/17/2026		F		352	D	$0	11,540	D
Common Stock	02/17/2026		F		109	D	$0	11,431	D

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

Remarks:

	/s/ James Grant for Katherine P. Clune	02/19/2025
	** 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.

Source: View Original Filing on SEC EDGAR