Doyle Jonathan J 4

What Happened
Jonathan J. Doyle, Head of the Financial Services Group and a director at Piper Sandler (PIPR), sold a total of 90,000 shares in open-market transactions on May 4–5, 2026 for aggregate proceeds of approximately $7.096 million. The reported tranches were:

• 19,296 shares @ $76.78 = $1,481,547 (sold across $76.22–$77.21)
• 25,404 shares @ $77.54 = $1,969,826 (sold across $77.23–$78.18)
• 300 shares @ $78.25 = $23,475 (sold across $78.245–$78.25)
• 6,100 shares @ $79.24 = $483,364 (sold across $78.87–$79.66)
• 38,600 shares @ $80.66 = $3,113,476 (sold across $80.0737–$81.04)
• 300 shares @ $81.08 = $24,324 (sold across $81.0749–$81.08)

Key Details

• Transaction dates: May 4–5, 2026; Form 4 filed May 6, 2026 (timely filing).
• Total shares sold: 90,000; total proceeds: ≈ $7.096M.
• Reported prices are weighted averages; individual trades occurred across the price ranges listed above (filing notes offer full breakdown on request).
• Transaction type: S (Sale) — open market/private sale.
• Shares owned after the transactions: not disclosed in the provided filing details.
• No 10b5‑1 plan, gift, exercise or tax-withholding specifics were disclosed in the provided footnotes.

Context
These were outright sales by an insider (not an award, exercise or gift). Sales provide liquidity for the insider and do not, by themselves, prove a change in the insider’s view of the company. Purchases tend to be considered a stronger signal of insider conviction than routine sales.