Director Ann C. Gallo (PIPR) receives 20-share stock grant as compensation
Rhea-AI Filing Summary
Gallo Ann C reported acquisition or exercise transactions in this Form 4 filing.
PIPER SANDLER COMPANIES director Ann C. Gallo received a grant of 20 shares of common stock on June 12, 2026. The award was recorded at a price of $0.00 per share, indicating it was part of her director compensation rather than an open-market purchase.
Following this grant, Gallo directly holds 7,726 shares of Piper Sandler common stock. A related footnote explains that dividend equivalents on phantom stock in the directors' deferred compensation plan are automatically reinvested and ultimately payable in common shares when a director’s service ends.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Buyer: 20 shares
Net Buy
1 txn
Insider
Gallo Ann C
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 20 | $0.00 | $0.00 |
Holdings After Transaction:
Common Stock — 7,726 shares (Direct)
Footnotes (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 granted: 20 shares
Grant price: $0.00 per share
Shares owned after grant: 7,726 shares
3 metrics
Shares granted
20 shares
Common stock grant on June 12, 2026
Grant price
$0.00 per share
Director compensation award, not open-market purchase
Shares owned after grant
7,726 shares
Direct holdings following reported transaction
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 in additional shares of phantom stock"
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 in additional shares"
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."
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What insider transaction did Ann C. Gallo report for PIPR?
Ann C. Gallo reported receiving a grant of 20 shares of Piper Sandler common stock. The shares were awarded at $0.00 per share as part of director compensation, increasing her direct holdings to 7,726 shares after the transaction.
What does the phantom stock footnote mean in Ann C. Gallo’s PIPR filing?
The footnote explains that dividend equivalents on phantom stock are reinvested into additional phantom shares in the directors' deferred compensation plan and become payable in common stock when the director’s service with Piper Sandler ends.
Does Ann C. Gallo’s PIPR Form 4 indicate any stock sales?
No, the Form 4 reports only an acquisition via a grant of 20 shares. There are no dispositions, sales, tax withholdings, or derivative exercises reported in this filing for Ann C. Gallo.