Piper Sandler (PIPR) Director Ann C. Gallo Receives 383 Phantom Shares

What Happened

• Ann C. Gallo, a director of Piper Sandler Companies (PIPR), was credited with 383 shares as an award (transaction code A) on 2026-09-30. The shares were recorded at $0.00 (no cash paid); the form reports the award value as $0. This is a grant of phantom stock representing deferred director cash retainer fees, not an open-market purchase or sale.

Key Details

• Transaction date: 2026-09-30; Filing date: 2026-10-01 (timely filing).
• Price: $0.00 per share; Total reported cash value at grant: $0.
• Shares acquired: 383 phantom shares (award/accrual).
• Shares owned after transaction: Not specified in the filing.
• Footnote: The shares are phantom stock accrued from deferred quarterly cash retainer fees and will be payable in common stock on the last day of the year in which the reporting person's service as a director terminates.
• Filing timeliness: No late filing flagged.

Context

• Phantom stock awards are a form of deferred compensation that convert to actual shares (or cash) only under specified conditions—here, payable in common stock when the director’s service ends—so this award does not represent an immediate increase in market-held shares and should be viewed as routine director compensation rather than an active bullish or bearish trading signal.