Piper Sandler director awarded 40 additional shares

Piper Sandler Companies director Mitchell Robbin reported a compensation-related share award.

Rhea-AI Filing Summary

Piper Sandler Companies director Mitchell Robbin reported a compensation-related share award. On the reported date, he acquired 40 shares at a price of $0.00 per share, increasing his directly held common stock to 15,755 shares. According to the disclosure, dividend equivalents on phantom stock are reinvested as additional phantom shares in the directors' deferred compensation plan and will be paid out in an equal number of common shares after his board service ends.

Insider Trade Summary

Grant/Award: 40 shares

Grant/Award 1 txn

Insider Mitchell Robbin

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	40	$0.00	$0.00

Holdings After Transaction: Common Stock — 15,755 shares (Direct)

Footnotes (1)

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 acquired: 40 shares Price per share: $0.00 per share Shares held after: 15,755 shares +2 more

5 metrics

Shares acquired 40 shares Grant, award, or other acquisition of common stock

Price per share $0.00 per share Reported transaction price for awarded shares

Shares held after 15,755 shares Total directly held Piper Sandler common stock after transaction

Transaction code Code A Grant, award, or other acquisition classification

Transaction direction Acquire Non-derivative acquisition of common stock

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"

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

"Dividend equivalents that are paid on shares of phantom stock are deemed reinvested"

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."

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Piper Sandler (PIPR) disclose in Mitchell Robbin’s latest Form 4?

The filing shows director Mitchell Robbin received an acquisition of 40 shares at $0.00 per share. This compensation-related award increased his directly held common stock position to 15,755 shares, reflecting routine director equity compensation rather than an open-market purchase or sale.

How many Piper Sandler (PIPR) shares does Mitchell Robbin hold after this transaction?

After the reported transaction, Mitchell Robbin directly holds 15,755 shares of Piper Sandler common stock. The increase comes from a 40-share award recorded at $0.00 per share, tied to the company’s director compensation and deferred compensation arrangements described in the disclosure footnotes.

What was the size and price of Mitchell Robbin’s recent Piper Sandler (PIPR) share award?

Mitchell Robbin was credited with 40 shares of Piper Sandler common stock at a reported price of $0.00 per share. This reflects a grant, award, or similar acquisition, rather than an open-market trade, and forms part of his overall equity-based director compensation.

How does phantom stock work in Piper Sandler (PIPR)’s director deferred compensation plan?

Dividend equivalents on phantom stock are automatically reinvested into additional phantom shares as of each payment date. These phantom shares accumulate in a director’s deferred compensation account and are ultimately settled in an equal number of Piper Sandler common shares when the director’s board service ends.

Are Mitchell Robbin’s recent Piper Sandler (PIPR) Form 4 transactions open-market buys or sells?

The recorded transaction is classified as a grant, award, or other acquisition rather than an open-market trade. Robbin received 40 shares at $0.00 per share, linked to compensation and phantom stock dividend equivalents, with no reported open-market buying or selling activity in this filing.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 06/15/2026 - 04:25 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^*

Mitchell Robbin

(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		40(1)	A	$0	15,755	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 Robbin Mitchell	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)