TAYLOR SCOTT C 4

What Happened Scott C. Taylor, a director of Piper Sandler Companies (PIPR), was credited with 87 shares on 2026-06-12 as an award/acquisition (code A). The shares were recorded at $0.00 (dividend equivalents reinvested into phantom stock), so no cash changed hands and the reported acquisition value is $0. These phantom shares accrue in the directors' deferred compensation plan and will be paid out in an equal number of common shares on the last day of the year in which his service as a director ends.

Key Details

• Transaction date and price: 2026-06-12; 87 shares @ $0.00 (award of phantom stock / dividend equivalents).
• Report filed: 2026-06-15 (Form 4 accession 0001271058-26-000006); the filing shows this transaction and no late-filing notation is indicated in the provided data.
• Shares owned after transaction: Not specified in the provided filing details.
• Footnote: Dividend equivalents are automatically reinvested into phantom shares under the directors' deferred compensation plan; phantom shares convert to actual common stock on termination as described above.

Context This was not an open-market buy or sale but an internal award of phantom stock (deferred compensation). Such awards reflect plan mechanics (dividend equivalents reinvested) rather than an immediate cash investment or disposition by the director, and should be interpreted differently than a direct purchase or sale.