Piper Sandler director acquires 91 dividend shares

PIPER SANDLER COMPANIES (PIPR) reported that director Scott C. Taylor acquired 91 shares of common stock on September 11, 2026 through a grant of dividend equivalents on phantom stock under the directors' deferred compensation plan.

Rhea-AI Filing Summary

PIPER SANDLER COMPANIES (PIPR) reported that director Scott C. Taylor acquired 91 shares of common stock on September 11, 2026 through a grant of dividend equivalents on phantom stock under the directors' deferred compensation plan. Following this award, Taylor holds 68,105 shares of common stock directly.

The footnote explains that dividend equivalents on phantom stock are reinvested as additional phantom shares, which accrue in the director's deferred compensation account and become payable in an equal number of common shares on the last day of the year in which the director's service terminates.

Insider Trade Summary

Grant/Award: 91 shares

Grant/Award 1 txn

Insider TAYLOR SCOTT C

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock F1	91	$0.00	$0.00

Holdings After Transaction: Common Stock — 68,105 shares (Direct)

Footnotes (1)

1. F1. Dividend equivalents that are paid on shares of phantom stock are deemed reinvested in additional shares of phantom stock as of the payment date. These phantom shares accrue to the reporting person's account in the directors' deferred compensation plan. The shares of phantom stock become payable, in an equal number of shares of common stock, on the last day of the year in which the reporting person's service as a director terminates.

Key Figures

Shares acquired: 91 shares of common stock Price per share for award: $0.00 per share Holdings after transaction: 68,105 shares

3 metrics

Shares acquired 91 shares of common stock Grant or award acquisition on September 11, 2026

Price per share for award $0.00 per share Non-market grant of dividend-equivalent shares

Holdings after transaction 68,105 shares Direct ownership of common stock following the September 11, 2026 award

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"

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"

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

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did PIPR report for Scott C. Taylor?

PIPER SANDLER COMPANIES reported that director Scott C. Taylor acquired 91 shares of common stock on September 11, 2026 via a grant of dividend equivalents on phantom stock under the directors' deferred compensation plan.

How many PIPR shares does Scott C. Taylor hold after this transaction?

After the September 11, 2026 grant, Scott C. Taylor directly holds 68,105 shares of PIPER SANDLER COMPANIES common stock, as reported in the Form 4 filing.

Was the September 11, 2026 PIPR transaction a market purchase or sale?

No. The transaction was reported as a grant or award acquisition of 91 shares at a per-share price of $0.00, tied to dividend equivalents on phantom stock in the directors' deferred compensation plan.

How do dividend equivalents on PIPR phantom stock work for directors?

Dividend equivalents paid on phantom stock are reinvested in additional phantom shares on the payment date. These phantom shares accrue in the director's deferred compensation plan account and become payable in an equal number of common shares when the director's service ends.

When will the phantom stock related to this PIPR award be paid out?

According to the disclosure, the phantom shares become payable, in an equal number of shares of common stock, on the last day of the year in which the reporting person's service as a director terminates.

Was the PIPR Form 4 transaction under a Rule 10b5-1 trading plan?

No. The Form 4 indicates the Rule 10b5-1 checkbox is not checked, and there is no footnote stating that the September 11, 2026 award was made under a Rule 10b5-1 trading plan.

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

Form 4 Insider Transactions: What Each Field Means →

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Available on EDGAR 09/14/2026 - 05:17 PM Accepted by SEC EDGAR 09/14/2026 - 05:16 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^*

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)
09/11/2026

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	09/11/2026		A		91(1)	A	$0	68,105	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. Dividend equivalents that are paid on shares of phantom stock are deemed reinvested in additional shares of phantom stock as of the payment date. These phantom shares accrue to the reporting person's account in the directors' deferred compensation plan. The shares of phantom stock become payable, in an equal number of shares of 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	09/14/2026
	** 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)