Abraham Chad R 4

What Happened

• Chad R. Abraham, CEO, Chairman and a director of Piper Sandler Companies (PIPR), was granted 20,222 shares as the payout of performance share units on Feb 26, 2026 (transaction code A). To satisfy tax withholding (code F), 9,222 of those shares were withheld/disposed, leaving a net delivery of 11,000 shares to the reporting person. The reported price per share for both entries is $0.00 (award/withholding), so no cash purchase price is shown.

Key Details

• Transaction date: 2026-02-26 (Grant A: 20,222 shares @ $0.00; Tax withholding F: 9,222 shares @ $0.00)
• Net shares delivered to Abraham after withholding: 11,000 shares
• Filing date: Form 4 filed 2026-03-02 (the filing date is shown in the record provided)
• Footnote F1: These were performance share units (each unit = contingent right to one share) that vested at 163% overall — 126% for adjusted return on equity performance and 200% for relative total shareholder return measured Jan 1, 2023–Dec 31, 2025.
• Footnote F2: The shares are held in a revocable living trust where Abraham and his spouse are trustees and he is a beneficiary.
• Shares owned after the transaction: not specified in the data provided on this Form 4.
• Transaction codes explained: A = award/grant; F = payment of tax liability via withholding (common for vested awards).

Context

• This was a compensation payout (performance share vesting), not an open-market buy or sell. The withholding of 9,222 shares is a routine tax-withholding action that reduces the net shares received and does not by itself indicate a change in sentiment. The award reflects achievement of multi-year performance goals (see F1).