Piper Sandler (NYSE: PIPR) exec reports tax-related share dispositions

Rhea-AI Filing Summary

Piper Sandler Companies executive Jean-Paul M. Peltier reported tax-related share dispositions. On February 17, 2026, he used a total of 2,093 shares of common stock in several transactions coded “F” to satisfy tax liabilities by delivering shares rather than paying cash. After these withholding transactions, he directly owned 33,931 common shares.

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)
02/17/2026

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		F		1,257	D	$0	34,767	D
Common Stock	02/17/2026		F		732	D	$0	34,035	D
Common Stock	02/17/2026		F		104	D	$0	33,931	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:

	James Grant for Jean-Paul M. Peltier	02/19/2026
	** 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 PIPER SANDLER (PIPR) executive Jean-Paul M. Peltier report on this Form 4?

He reported tax-related dispositions of company stock. On February 17, 2026, he used 2,093 common shares to cover tax liabilities through share withholding, a non-cash method, and held 33,931 shares directly afterward.

Were the PIPR Form 4 transactions open-market sales of Piper Sandler stock?

No, the transactions were not open-market sales. They were coded “F,” meaning shares were withheld to pay exercise price or tax liabilities, so the company retained shares instead of the executive selling them in the market.

How many Piper Sandler (PIPR) shares did Jean-Paul M. Peltier use for tax withholding?

He used a total of 2,093 common shares for tax withholding. These were reported across three separate Form 4 entries, each coded as a tax-liability payment by delivering securities instead of cash.

How many Piper Sandler shares does Jean-Paul M. Peltier hold after the reported Form 4 transactions?

After the reported share-withholding transactions, he directly owned 33,931 common shares. This figure reflects his stake following the February 17, 2026 tax-liability dispositions reported on the Form 4.

What does transaction code “F” mean in the Piper Sandler (PIPR) Form 4 filing?

Code “F” indicates payment of an exercise price or tax liability by delivering securities. Instead of selling shares on the open market, shares are withheld to cover obligations, resulting in a non-cash disposition.

Is the Piper Sandler (PIPR) Form 4 filing by Jean-Paul M. Peltier considered a share sale?

It is a disposition but not a traditional sale. The filing shows tax-withholding dispositions, where shares are surrendered to satisfy obligations, rather than sold to third-party buyers in the open market.