TAYLOR SCOTT C 4

What Happened

• Scott C. Taylor, a director of Piper Sandler Companies (PIPR), was credited with an award of 161 shares (phantom stock) on March 13, 2026. The reported acquisition price is $0.00, so there was no cash purchase; this is a compensation award (transaction code A).

Key Details

• Transaction date: 2026-03-13; reported price per share: $0.00 (total immediate cash value $0).
• Filing date: 2026-03-16 (filed timely).
• Shares owned after the transaction: not specified in the filing.
• Footnote: Dividend equivalents on these phantom shares are reinvested as additional phantom shares; the phantom shares accrue in the directors' deferred compensation plan and convert to an equal number of common shares on the last day of the year in which the director’s service terminates.

Context

• These were phantom-share awards under a deferred compensation arrangement, not an open-market purchase or sale. Such grants are routine director compensation and do not by themselves signal a buy/sell decision by the insider. The award becomes actual common stock only upon the triggering event described in the footnote (service termination).