Mitchell Robbin 4

What Happened
Mitchell Robbin, a director of Piper Sandler Companies (PIPR), was granted 69 shares on 2026-03-13 as an award under the company's directors' deferred compensation plan. The shares were reported at $0.00 per share (no cash paid). Because these are phantom/dividend-equivalent shares, they are not an open-market purchase and have no immediate out-of-pocket value to the director.

Key Details

• Transaction date: 2026-03-13; Form 4 filed: 2026-03-16 (filed within normal reporting time).
• Transaction type/code: A — Award/Grant/Other acquisition.
• Quantity and price: 69 shares @ $0.00 (total immediate cash value: $0).
• Shares owned after transaction: Not specified in the provided filing.
• Footnote: Dividend equivalents on phantom shares are reinvested as additional phantom shares in the directors' deferred compensation plan; those phantom shares convert to an equal number of common shares and are payable on the last day of the year in which the director's service terminates.

Context
This was an internal compensation award (phantom stock/dividend equivalents), not a market purchase or sale. Such grants are routine director compensation and do not by themselves indicate a buy or sell signal; payout depends on plan rules and the director's future service/termination.