Piper Sandler Companies (NYSE: PIPR) CEO gets 20,222-share equity grant and tax withholding

Rhea-AI Filing Summary

Piper Sandler Companies reported that CEO and Chairman Chad R. Abraham received a grant of 20,222 shares of common stock on February 26, 2026, as an equity award. On the same date, 9,222 shares were delivered to cover tax obligations, a disposition classified as payment of tax liability using shares.

After these transactions, Abraham directly holds 67,315 common shares and indirectly holds 36,000 shares through a revocable living trust163% overall over the January 1, 2023 to December 31, 2025 performance period.

Insider Trade Summary

Net Buyer: 11,000 shares

Net Buy 3 txns

Insider Abraham Chad R

Role CEO and Chairman

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

Holdings After Transaction: Common Stock — 67,315 shares (Direct); Common Stock — 36,000 shares (Indirect, Through Living Trust)

Footnotes (2)

1. F1. 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. F2. 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.

Key Figures

Equity Award Shares: 20,222 shares Tax-Withholding Shares: 9,222 shares Direct Holdings After Transaction: 67,315 shares +4 more

7 metrics

Equity Award Shares 20,222 shares Common stock grant to CEO Chad R. Abraham on February 26, 2026

Tax-Withholding Shares 9,222 shares Shares delivered to satisfy tax liability related to the award

Direct Holdings After Transaction 67,315 shares Canonical post-transaction direct common stock holdings of Chad R. Abraham

Indirect Trust Holdings 36,000 shares Common stock held through a revocable living trust

Overall PSU Vesting 163% Performance share units vesting over the 2023–2025 measurement period

Adjusted ROE Portion Vesting 126% Award portion based on adjusted return on equity vesting percentage

Relative TSR Portion Vesting 200% Award portion based on relative total shareholder return vesting percentage

Key Terms

performance share unit, adjusted return on equity, relative total shareholder return, revocable living trust

4 terms

performance share unit financial

"Each performance share unit represented a contingent right to receive one share"

A performance share unit (PSU) is a form of executive or employee pay that promises shares (or the cash value of shares) only if the company meets specific performance targets over a set period. Think of it like a bonus cheque that only arrives if the company hits agreed goals — it aligns managers’ rewards with business results and signals to investors how leadership is being incentivized to grow value over time.

adjusted return on equity financial

"126% vesting of the portion of the award based on attaining certain levels of adjusted return on equity"

Adjusted return on equity is a profitability measure that shows how much profit a company generates for common shareholders after removing one-time items, accounting quirks, or other non-recurring effects from the usual return-on-equity calculation. It matters to investors because it gives a cleaner, more comparable view of how efficiently management turns shareholders’ capital into sustainable earnings—like judging a car’s normal fuel economy after excluding an unusual long trip.

relative total shareholder return financial

"200% vesting of the portion of the award based on relative total shareholder return within a group of peer companies"

Relative total shareholder return measures how much an investor’s gain from a company — including stock price changes and dividends — beats or lags a chosen benchmark or peer group over a set time. Think of it as a race: it shows whether the company outpaced rivals or the market, which helps investors and boards judge performance, compare returns fairly, and link results to pay or investment decisions.

revocable living trust financial

"These shares are held in a revocable living trust, of which the reporting person"

FAQ

What did Piper Sandler (PIPR) CEO Chad Abraham report in this Form 4?

Chad R. Abraham reported a grant of 20,222 shares of Piper Sandler common stock and the withholding of 9,222 shares for taxes, along with updated direct and indirect share holdings, in this insider transaction filing.

How many Piper Sandler (PIPR) shares were granted to the CEO?

On February 26, 2026, 20,222 shares of common stock were granted to CEO Chad R. Abraham as an equity award, reflecting vested performance-based compensation disclosed in the Form 4.

How many Piper Sandler (PIPR) shares were withheld for taxes?

The filing shows 9,222 shares of Piper Sandler common stock were delivered to satisfy tax obligations, classified as a tax-withholding disposition, related to the equity award on February 26, 2026.

What are Chad Abraham’s current Piper Sandler (PIPR) share holdings?

Following the reported transactions, Chad R. Abraham holds 67,315 shares directly and 36,000 shares indirectly through a revocable living trust where he and his spouse serve as trustees.

How did Piper Sandler (PIPR) performance share units vest for the CEO?

The performance share units vested 163% overall, including 126% based on adjusted return on equity and 200% based on relative total shareholder return measured from January 1, 2023 through December 31, 2025.

How were Piper Sandler (PIPR) CEO’s indirect holdings structured?

The Form 4 notes 36,000 shares are held in a revocable living trust, with Chad R. Abraham and his spouse as trustees and Abraham as a beneficiary, reflecting his indirect ownership structure.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Form 4 Insider Transactions: What Each Field Means →

Accepted by SEC EDGAR 03/02/2026 - 04:01 PM Learn about SEC filing dates

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.