Piper Sandler (PIPR) counsel gets stock grant, disposes shares for taxes

Rhea-AI Filing Summary

Piper Sandler Companies General Counsel John W. Geelan reported mixed equity transactions in company common stock. He received a grant of 505 shares on February 17, 2026 at a stated price of $0.00 per share, increasing his direct holdings.

On the same date, he disposed of a total of 149 shares through three separate transactions coded as tax-withholding dispositions, used to cover tax liabilities by delivering shares. After these transactions, he directly owned 13,001 common shares of Piper Sandler Companies.

Insider Trade Summary

4 transactions reported

Mixed 4 txns

Insider Geelan John W

Role General Counsel

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	505	$0.00	--
Tax Withholding	Common Stock	65	$0.00	--
Tax Withholding	Common Stock	50	$0.00	--
Tax Withholding	Common Stock	34	$0.00	--

Holdings After Transaction: Common Stock — 13,150 shares (Direct)

Footnotes (1)

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^*

Geelan John W

(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)
	General Counsel

3. Date of Earliest Transaction (Month/Day/Year)
02/17/2026

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	02/17/2026		A		505	A	$0	13,150	D
Common Stock	02/17/2026		F		65	D	$0	13,085	D
Common Stock	02/17/2026		F		50	D	$0	13,035	D
Common Stock	02/17/2026		F		34	D	$0	13,001	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:

Remarks:

	/s/ James Grant for John W. Geelan	02/19/2025
	** 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 insider transactions did PIPER SANDLER (PIPR) report for John W. Geelan?

John W. Geelan reported receiving a grant of 505 shares of Piper Sandler common stock and disposing of 149 shares for tax withholding purposes, all dated February 17, 2026. Following these transactions, he directly held 13,001 common shares.

Was the PIPER SANDLER (PIPR) Form 4 a stock purchase or sale?

The Form 4 shows an equity grant and tax-related dispositions, not open-market buying or selling. Geelan acquired 505 common shares as a grant and disposed of 149 shares to satisfy tax obligations by delivering securities, according to the filing’s transaction codes and descriptions.

How many PIPER SANDLER (PIPR) shares does John W. Geelan now own?

After the reported Form 4 transactions, John W. Geelan directly owns 13,001 shares of Piper Sandler common stock. This figure reflects the 505-share grant and three tax-withholding dispositions totaling 149 shares, all occurring on February 17, 2026.

What does transaction code A mean in the PIPR Form 4 for Geelan?

Transaction code A on the Form 4 represents a grant, award, or other acquisition of securities. For John W. Geelan, it corresponds to a 505-share grant of Piper Sandler common stock at a stated price of $0.00 per share on February 17, 2026.

What do the F-coded transactions mean in the PIPER SANDLER (PIPR) Form 4?

The F-coded transactions indicate tax-withholding dispositions, where shares are delivered to cover tax liabilities or exercise costs. Geelan’s Form 4 shows three such F transactions, disposing of 65, 50, and 34 shares of common stock on February 17, 2026.

Are John W. Geelan’s PIPR transactions direct or indirect holdings?

All reported transactions for John W. Geelan in this Form 4 involve direct holdings of Piper Sandler common stock. The filing lists ownership type and code as direct (D) for each transaction, with no separate entity or indirect ownership footnotes disclosed.