Chad R. Abraham - May 18, 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 18, 2023
Transactions value $
-$26,000
Form type
4
Date filed
5/22/2023, 05:23 PM
Previous filing
May 17, 2023
Next filing
May 23, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PIPR Common Stock Sale -$13K -100 -0.34% $130.00 29.5K May 18, 2023 Direct F1
transaction PIPR Common Stock Sale -$13K -100 -0.34% $130.00 29.4K May 19, 2023 Direct F1
holding PIPR Common Stock 55K May 18, 2023 Through Living Trust F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

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.