Schoneman Debbra L. 4

What Happened

• Debbra L. Schoneman, President of Piper Sandler Companies (PIPR), was granted 6,191 performance share units that vested on Feb 26, 2026 (reported on a Form 4 filed 2026-03-02). The award is reported at $0.00 per share in the filing because these were equity compensation units rather than an open-market purchase. To satisfy tax withholding, 2,824 shares from the award were surrendered/disposed on the same date (also reported at $0.00).

Key Details

• Transaction dates: 2026-02-26 (award vesting and tax withholding); Form 4 filed 2026-03-02 (timely).
• Codes: A = Award/Grant (6,191 shares acquired at $0.00); F = Payment of exercise price or tax liability (2,824 shares disposed at $0.00).
• Shares owned after the transaction: not specified in the information provided in this summary (not reported here).
• Footnote highlights:
  • F1: Each performance share unit converts to one share; the PSU award vested at 163% overall — 126% for adjusted return on equity and 200% for relative total shareholder return vs peers (performance measured 1/1/2023–12/31/2025).
  • F2: Some shares are held in revocable living trusts where the reporting person and spouse are co-trustees.
• Filing timeliness: The Form 4 was filed within the SEC’s required window (reported two business days after the Feb 26 transaction).

Context

• These were vested performance-share awards (compensation), not open-market purchases or sales. The 2,824-share disposition was a tax-withholding event common when equity awards vest and does not represent a market sale intended as a directional bet. Performance share vesting levels reflect company-set performance goals over a multi-year period.