Chad R. Abraham - May 8, 2023 Form 4 Insider Report for PIPER SANDLER COMPANIES (PIPR)

Signature
/s/ James Grant for Chad R. Abraham
Stock symbol
PIPR
Transactions as of
May 8, 2023
Transactions value $
-$130
Form type
4
Date filed
5/10/2023, 05:02 PM
Previous filing
May 5, 2023
Next filing
May 17, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % Price $ Shares After Date Ownership Footnotes
transaction PIPR Common Stock Sale -$130 -1 0% $130.00 29.6K May 8, 2023 Direct F1
holding PIPR Common Stock 55K May 8, 2023 Through Living Trust F2

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 The share of common stock was sold pursuant to a 10b5-1 trading plan.
F2 These shares are held in a revocable living trust, of which the reporting person and the reporting person's spouse are trustees, and the reporting person is a beneficiary.