Piper Sandler (NYSE: PIPR) exec granted shares, with tax withholding disposal

Rhea-AI Filing Summary

Piper Sandler Companies executive Jean-Paul M. Peltier, Global Co-Head of Investment Banking and Capital Markets, reported equity transactions in company common stock. He acquired 6,722 shares at no cash cost through a grant or award, then disposed of 3,066 shares to cover tax obligations.

According to the footnote, the award came from performance share units, each convertible into one common share. These units vested 163% overall, based on two performance goals measured from January 1, 2023 through December 31, 2025: 126% for adjusted return on equity and 200% for relative total shareholder return versus peers.

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

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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^*

PELTIER JEAN-PAUL M

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Global Co-Head IB and Cap Mkts

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		6,722	A	$0(1)	40,653	D
Common Stock	02/26/2026		F		3,066	D	$0	37,587	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. 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.

Remarks:

	James Grant for Jean-Paul M. Peltier	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.

FAQ

What did Jean-Paul Peltier report in this Piper Sandler (PIPR) Form 4?

Jean-Paul Peltier reported an equity award and a related tax withholding in Piper Sandler common stock. He received 6,722 shares through a performance-based grant, then disposed of 3,066 shares to satisfy tax obligations arising from that vesting and share delivery event.

How many Piper Sandler (PIPR) shares did Jean-Paul Peltier acquire and dispose?

Jean-Paul Peltier acquired 6,722 shares of Piper Sandler common stock via a grant at zero price per share. He then disposed of 3,066 shares in a tax-withholding transaction, leaving 37,587 shares of common stock reported as directly owned after these transactions were completed.

What performance period governed Jean-Paul Peltier’s Piper Sandler (PIPR) share units?

The performance share units covered by this Form 4 were measured from January 1, 2023 through December 31, 2025. Vesting depended on adjusted return on equity and relative total shareholder return versus a peer group over that multi-year performance period.

How were the Piper Sandler (PIPR) performance share units for Jean-Paul Peltier structured?

Each performance share unit represented a contingent right to receive one Piper Sandler common share. Overall vesting reached 163%, with 126% tied to adjusted return on equity and 200% tied to relative total shareholder return within a selected peer company group.

Why did Jean-Paul Peltier dispose of Piper Sandler (PIPR) shares in this filing?

The disposal reflects a tax-withholding transaction related to the vesting and delivery of performance share units. 3,066 shares of Piper Sandler common stock were surrendered to cover tax liabilities, rather than representing an open-market sale for investment or portfolio reasons.

What is Jean-Paul Peltier’s role at Piper Sandler (PIPR) in this Form 4?

In this Form 4, Jean-Paul M. Peltier is identified as a company officer, serving as Global Co-Head of Investment Banking and Capital Markets. The reported common stock transactions relate to his compensation structure and performance-based share awards from Piper Sandler Companies.