Piper Sandler (NYSE: PIPR) director granted additional phantom stock
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Sterling Brian R reported acquisition or exercise transactions in this Form 4 filing.
Piper Sandler Companies director Brian R. Sterling received a grant of 31 shares of common stock-equivalent phantom stock as compensation. The award was recorded at a price of $0.00 per share and brings his directly held and deferred position to 104,565 shares.
The footnote explains that dividend equivalents on phantom stock are automatically reinvested into additional phantom shares in the directors' deferred compensation plan. These phantom shares will be settled in an equal number of common shares, payable after Sterling’s service as a director ends.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Sterling Brian R
Role
null
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 31 | $0.00 | -- |
Holdings After Transaction:
Common Stock — 104,565 shares (Direct, null)
Footnotes (1)
- [object Object]
Key Figures
Shares granted: 31 shares
Grant price: $0.00 per share
Total holdings after: 104,565 shares
3 metrics
Shares granted
31 shares
Common stock-equivalent phantom stock grant on 2026-06-12
Grant price
$0.00 per share
Stated price for the 31-share award
Total holdings after
104,565 shares
Shares held by Brian R. Sterling following the transaction
Key Terms
phantom stock, dividend equivalents, directors' deferred compensation plan
3 terms
phantom stock financial
"Dividend equivalents that are paid on shares of phantom stock are deemed reinvested in additional 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.
dividend equivalents financial
"Dividend equivalents that are paid on shares of phantom stock are deemed reinvested in additional shares of phantom stock"
Payments tied to employee or contractor equity awards that mirror the cash dividends paid on the company’s stock; they give the holder the same economic benefit as owning the shares without transferring actual shares—often paid in cash or additional award units when the award becomes payable. Investors care because these payments affect a company’s compensation costs, cash flow and potential share dilution, and they signal how management is being rewarded and aligned with shareholders.
directors' deferred compensation plan financial
"These phantom shares accrue to the reporting person's account in the directors' deferred compensation plan."
FAQ
What insider transaction did Piper Sandler (PIPR) report for Brian R. Sterling?
Piper Sandler reported that director Brian R. Sterling received 31 shares of common stock-equivalent phantom stock as a compensation-related grant, bringing his total holdings reported in this filing to 104,565 shares following the transaction.
Was the Piper Sandler (PIPR) insider transaction a stock purchase or a grant?
The transaction was a grant or award, not an open-market purchase. Sterling received 31 phantom stock shares at a stated price of $0.00 per share as part of director compensation rather than buying shares in the market.
What are phantom stock and dividend equivalents in Piper Sandler’s (PIPR) plan?
Phantom stock represents units tied to common shares in a deferred plan. Dividend equivalents on these units are reinvested into additional phantom shares, which later become payable in an equal number of common shares after a director’s service ends.