Director Scott C. Taylor of Piper Sandler (PIPR) defers 1,875-share equity award

Rhea-AI Filing Summary

TAYLOR SCOTT C reported acquisition or exercise transactions in this Form 4 filing.

Piper Sandler Companies director Scott C. Taylor received an equity-based award linked to 1,875 shares of common stock. The filing shows the award at a price of $0.00 per share as a grant, not an open-market purchase or sale. Following this transaction, his directly held common stock position is reported at 67,927 shares.

According to the footnote, Taylor elected to defer this annual equity grant into 1,875 shares of phantom stock, which will be paid out in common stock on the last day of the year in which his service as a director ends.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider TAYLOR SCOTT C

Role null

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	1,875	$0.00	--

Holdings After Transaction: Common Stock — 67,927 shares (Direct, null)

Footnotes (1)

1. [object Object]

Key Figures

Equity grant size: 1,875 shares Grant price: $0.00 per share Shares held after grant: 67,927 shares +1 more

4 metrics

Equity grant size 1,875 shares Annual equity grant deferred into phantom stock

Grant price $0.00 per share Recorded price for the equity award

Shares held after grant 67,927 shares Total common stock directly held after transaction

Settlement trigger End of director service year Phantom stock payable in common stock at that time

Key Terms

phantom stock, annual equity grant, payable, in common stock

3 terms

phantom stock financial

"resulting in an accrual to his account of 1,875 shares of phantom stock."

A phantom stock is a form of compensation that gives employees or executives the benefits of stock ownership, such as the increase in stock value, without actually giving them real shares. It acts like a promise to pay the employee the equivalent value of company stock later, often as a bonus or incentive. This allows companies to motivate and reward staff without diluting ownership or transferring actual shares.

annual equity grant financial

"elected to defer receipt of an annual equity grant of 1,875 shares of common stock"

payable, in common stock financial

"The shares of phantom stock become payable, in common stock, on the last day"

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^*

TAYLOR SCOTT C

(Last) (First) (Middle)

350 NORTH 5TH STREET, SUITE 1000

(Street)

MINNEAPOLIS MINNESOTA 55401

(City) (State) (Zip)

UNITED STATES

(Country)

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
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/20/2026

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

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

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

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	05/20/2026		A		1,875(1)	A	$0	67,927	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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The reporting person elected to defer receipt of an annual equity grant of 1,875 shares of common stock resulting in an accrual to his account of 1,875 shares of phantom stock. The shares of phantom stock become payable, in common stock, on the last day of the year in which the reporting person's service as a director terminates.

Remarks:

	/s/ James Grant for Scott C. Taylor	05/21/2026
	** 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.
* Form 4: SEC 1474 (03-26)

FAQ

What did PIPER SANDLER (PIPR) director Scott C. Taylor report on this Form 4?

Scott C. Taylor reported receiving an equity grant tied to 1,875 shares of Piper Sandler common stock. The award was recorded at $0.00 per share as compensation, not as an open-market purchase or sale of shares.

How many PIPER SANDLER (PIPR) shares does Scott C. Taylor hold after this transaction?

After this reported equity award, Scott C. Taylor is shown holding 67,927 shares of Piper Sandler common stock directly. This figure reflects his position immediately following the grant disclosed in the Form 4 filing for the stated transaction date.

Was cash paid for the 1,875-share equity grant reported by PIPR director Scott C. Taylor?

No cash was paid for this grant; the 1,875 shares were recorded at $0.00 per share. The transaction is characterized as a grant or award of equity compensation, rather than a purchase of Piper Sandler common stock on the open market.

What does the phantom stock election mean in Scott C. Taylor’s PIPR Form 4 filing?

Taylor elected to defer his annual equity grant into 1,875 shares of phantom stock credited to his account. The footnote states these phantom shares will be settled in Piper Sandler common stock when his service as a director ends in a future year.

When will Scott C. Taylor receive the common stock for his phantom shares in PIPR?

The phantom stock becomes payable in Piper Sandler common stock on the last day of the year in which Taylor’s service as a director terminates. Until then, the 1,875-share award remains an accrued phantom stock balance rather than currently delivered shares.