Director Scott C. Taylor (PIPR) receives 87-share award in deferred stock plan

Rhea-AI Filing Summary

Piper Sandler Companies director Scott C. Taylor reported an automatic stock-related award. On the reported date, he acquired 87 shares of common stock at no cost, described as dividend-equivalent phantom stock credited under the directors' deferred compensation plan. This increased his direct holdings to 68,014 common shares.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider TAYLOR SCOTT C

Role null

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	87	$0.00	--

Holdings After Transaction: Common Stock — 68,014 shares (Direct, null)

Footnotes (1)

1. [object Object]

Key Figures

Shares acquired: 87 shares Price per share: $0.00 per share Shares owned after: 68,014 shares

3 metrics

Shares acquired 87 shares Grant/award acquisition of common stock

Price per share $0.00 per share Compensation-related stock award

Shares owned after 68,014 shares Direct holdings following transaction

Key Terms

dividend equivalents, phantom stock, directors' deferred compensation plan

3 terms

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.

phantom stock financial

"These phantom shares accrue to the reporting person's account in the directors' deferred compensation plan."

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.

directors' deferred compensation plan financial

"These phantom shares accrue to the reporting person's account in the directors' deferred compensation plan."

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 06/15/2026 - 04:29 PM Accepted by SEC EDGAR 06/15/2026 - 04:29 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)
06/12/2026

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	06/12/2026		A		87(1)	A	$0	68,014	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	06/15/2026
	** 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 Scott C. Taylor report in this Piper Sandler (PIPR) Form 4 filing?

Scott C. Taylor reported an acquisition of 87 shares of Piper Sandler common stock. The shares relate to dividend-equivalent phantom stock credited under the directors' deferred compensation plan and were received at no cost, increasing his direct holdings to 68,014 shares.

How many Piper Sandler (PIPR) shares did Scott C. Taylor acquire and at what price?

He acquired 87 shares of Piper Sandler common stock at a price of $0.00 per share. The award reflects dividend equivalents on phantom stock that are reinvested and credited to his deferred compensation account under the directors' plan.

What are dividend equivalents and phantom stock in the Piper Sandler (PIPR) Form 4?

Dividend equivalents are cash or stock credits mirroring dividends on underlying shares. In this case, they are reinvested as phantom stock units in a directors' deferred compensation plan, later payable in an equal number of Piper Sandler common shares at service termination.

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

Following the reported award, Scott C. Taylor directly holds 68,014 shares of Piper Sandler common stock. The 87-share grant modestly increases his existing position and reflects compensation-related accruals rather than an open-market purchase or sale.

Is the Piper Sandler (PIPR) Form 4 transaction an open-market trade?

No, the Form 4 shows a compensation-related acquisition coded as a grant or award. The 87 shares stem from dividend equivalents on phantom stock under the directors' deferred compensation plan rather than an open-market buy or sell transaction.