Clune Katherine Patricia 4

What Happened

• Katherine Patricia Clune, Chief Financial Officer of Piper Sandler Companies (PIPR), was granted 1,467 shares as an award on 2026-02-17 (report lists price $0.00). To satisfy tax withholding, 352 shares and 109 shares (total 461) were surrendered/disposed under withholding (code F). Net shares issued to Clune after withholding: 1,006. No open-market purchase or sale is reported — this was a compensation award with routine tax withholding.

Key Details

• Transaction date: 2026-02-17
• Award (Code A): 1,467 shares @ $0.00 (acquired)
• Tax withholding (Code F): 352 shares @ $0.00 (disposed) and 109 shares @ $0.00 (disposed); total withheld = 461 shares
• Net shares received: 1,006 (1,467 awarded − 461 withheld)
• Shares owned after transaction: not specified in this filing
• Filing: Form 4 filed 2026-02-19 for a 2026-02-17 transaction — appears timely (within standard two-business-day window)
• Notes: Code A = award/grant; Code F = payment of exercise price or tax liability (here used for tax withholding)

Context

• This transaction reflects a compensation grant and routine tax withholding, not an open-market purchase or sale. Withholding of shares to cover taxes is common and administrative in nature, and does not necessarily indicate the insider’s market view. For retail investors, the key takeaway is a net increase of 1,006 shares to the CFO resulting from the award.