Brian R. Sterling - Dec 10, 2021 Form 4 Insider Report for PIPER SANDLER COMPANIES (PIPR)

Role: Director
Signature: /s/ James Grant for Brian R. Sterling
Stock symbol: PIPR
Transactions as of: Dec 10, 2021
Transactions value $: $1,828
Form type: 4
Date filed: 12/13/2021, 03:33 PM
Previous filing: Oct 4, 2021
Next filing: Jan 3, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	PIPR	Common Stock	Award	$1.83K	+11	+0.05%	$166.16	20.5K	Dec 10, 2021	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.