[Form 4] PIPER SANDLER COMPANIES Insider Trading Activity

Rhea-AI Filing Summary

Piper Sandler Companies CEO and Chairman Chad R. Abraham reported equity-related transactions in company common stock. He acquired 20,222 shares in a grant classified as a “grant, award, or other acquisition,” leaving him with 76,537 directly held shares afterward.

On the same date, 9,222 shares were disposed of to cover tax obligations by delivering securities, reducing his directly held balance to 67,315 shares. Separately, 36,000 shares are held indirectly through a revocable living trust where he and his spouse serve as trustees and he is a beneficiary. A related footnote explains that performance share units tied to adjusted return on equity and relative total shareholder return vested at 163% overall for the January 1, 2023 through December 31, 2025 performance period.

Insider Trade Summary

3 transactions reported

Mixed 3 txns

Insider Abraham Chad R

Role CEO and Chairman

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	20,222	$0.00	--
Tax Withholding	Common Stock	9,222	$0.00	--
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 76,537 shares (Direct); Common Stock — 36,000 shares (Indirect, Through Living Trust)

Footnotes (1)

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. These shares are held in a revocable living trust, of which the reporting person and the reporting person's spouse are trustees, and the reporting person is a beneficiary.

Form 4 Insider Transactions: What Each Field Means →

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^*

Abraham Chad R

(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)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	CEO and Chairman

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		20,222	A	$0(1)	76,537	D
Common Stock	02/26/2026		F		9,222	D	$0	67,315	D
Common Stock								36,000(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 a revocable living trust, of which the reporting person and the reporting person's spouse are trustees, and the reporting person is a beneficiary.

Remarks:

	/s/ James Grant for Chad R. Abraham	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 did PIPER SANDLER COMPANIES (PIPR) CEO Chad R. Abraham report on this Form 4?

Chad R. Abraham reported a stock grant and related tax-share disposition involving Piper Sandler common stock. The filing shows an equity award, tax withholding via share delivery, and updated direct and indirect ownership, including shares held through a revocable living trust structure.

How many Piper Sandler (PIPR) shares were granted to Chad R. Abraham?

He was granted 20,222 shares of Piper Sandler common stock in a transaction classified as a grant, award, or other acquisition. This increased his directly held position before a separate tax-related share disposition reported for the same date on the Form 4.

Why did Chad R. Abraham dispose of 9,222 PIPR shares in this filing?

The 9,222 Piper Sandler shares were disposed of to satisfy tax obligations by delivering securities. The transaction is coded as “F,” meaning payment of exercise price or tax liability by delivering shares rather than an open-market sale, and it reduced his directly held balance.

What performance measures affected Chad R. Abraham’s Piper Sandler performance share units?

The performance share units vested 163% overall based on two metrics. Vesting reflected 126% for adjusted return on equity targets and 200% for relative total shareholder return versus peers, measured from January 1, 2023 through December 31, 2025 under the company’s performance framework.

How many Piper Sandler (PIPR) shares does Chad R. Abraham hold through a trust?

He indirectly holds 36,000 Piper Sandler shares through a revocable living trust. He and his spouse are trustees of the trust, and he is a beneficiary, giving him indirect ownership separate from his directly held common stock position reported in the filing.

What is Chad R. Abraham’s direct Piper Sandler share ownership after these transactions?

After the grant and tax-withholding disposition, he directly owns 67,315 Piper Sandler common shares. The Form 4 shows 76,537 shares following the grant, then 67,315 after the tax-related share delivery, updating his post-transaction direct ownership position in the company.