Victoria M. Holt - 12 Dec 2025 Form 4 Insider Report for PIPER SANDLER COMPANIES (PIPR)

Role: Director
Signature: /s/ James Grant for Victoria M. Holt
Issuer symbol: PIPR
Transactions as of: 12 Dec 2025
Net transactions value: $0
Form type: 4
Filing time: 15 Dec 2025, 16:45:51 UTC
Previous filing: 15 Sep 2025
Next filing: 16 Mar 2026
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
HOLT VICTORIA M	Director	350 NORTH 5TH STREET, SUITE 1000, MINNEAPOLIS	/s/ James Grant for Victoria M. Holt	15 Dec 2025	0001181629

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	PIPR	Common Stock	Award	$0	+14	+0.19%	$0.000000	7,339	12 Dec 2025	Direct	F1

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Dividend equivalents that are paid on shares of phantom stock are deemed reinvested in additional shares of phantom stock as of the payment date. These phantom shares accrue to the reporting person's account in the directors' deferred compensation plan. The shares of phantom stock become payable, in an equal number of shares of common stock, on the last day of the year in which the reporting person's service as a director terminates.

Content

Dividend equivalents that are paid on shares of phantom stock are deemed reinvested in additional shares of phantom stock as of the payment date. These phantom shares accrue to the reporting person's account in the directors' deferred compensation plan. The shares of phantom stock become payable, in an equal number of shares of common stock, on the last day of the year in which the reporting person's service as a director terminates.