Piper Sandler (PIPR) Director Ann C. Gallo Receives 22-Share Award

What Happened

• Ann C. Gallo, a director of Piper Sandler Companies (PIPR), was granted 22 shares on 2026-09-11 (transaction code A — award/grant). The Form 4 reports 22 shares acquired at $0.00 (total value $0). These are phantom shares credited to the directors' deferred compensation plan rather than an open-market purchase.

Key Details

• Transaction date: 2026-09-11
• Report filed: 2026-09-14 (Accession 0002038097-26-000014)
• Transaction type/code: Award/Grant (A)
• Shares acquired: 22 at $0.00; reported value $0
• Shares owned after transaction: not specified in the filing
• Footnote F1: Dividend equivalents on phantom stock are reinvested as additional phantom shares in the directors' deferred compensation plan; phantom shares are payable in an equal number of common shares on the last day of the year in which the director's service terminates
• Filing timeliness: filing date is three days after the transaction date; no late-filing notation appears in the report

Context

• These are not open-market purchases or sales but a routine director compensation credit (phantom stock/dividend equivalents). Phantom shares accrue in a deferred compensation plan and convert to actual shares only upon the director’s termination as described in the footnote, so this award does not reflect an immediate cash investment or sale.