TAYLOR SCOTT C 4

What Happened
Scott C. Taylor, a director of Piper Sandler Companies (PIPR), reported an award/acquisition on 2026-05-20 for 1,875 shares at $0.00. Rather than receiving shares immediately, Taylor elected to defer his 2026 annual equity grant, which resulted in an accrual of 1,875 phantom shares (no cash paid or market purchase).

Key Details

• Transaction date: 2026-05-20; Form 4 filed 2026-05-21 (timely filing).
• Transaction type/code: A (award/grant/acquisition). Price reported: $0.00.
• Shares reported: 1,875 phantom shares accrued. Total shares owned after the transaction: not specified in the provided filing.
• Footnote: The deferred phantom shares become payable in common stock on the last day of the year in which the reporting person's service as a director terminates.
• No sale or open-market purchase occurred; this is an internal deferral of an equity grant.

Context
Phantom stock is a deferred compensation arrangement that gives the holder the economic equivalent of shares at a future payout date (here, payable in common stock upon termination of director service). This filing reflects a routine director deferral election rather than an active market buy or sell and does not by itself indicate a change in trading sentiment.