Chad R. Abraham - May 22, 2023 Form 4 Insider Report for PIPER SANDLER COMPANIES (PIPR)

Role
CEO and Chairman, Director
Signature
/s/ James Grant for Chad R. Abraham
Stock symbol
PIPR
Transactions as of
May 22, 2023
Transactions value $
-$694,779
Form type
4
Date filed
5/23/2023, 05:04 PM
Previous filing
May 22, 2023
Next filing
Jul 26, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PIPR Common Stock Sale -$290K -2.22K -7.55% $130.27 27.2K May 22, 2023 Direct F1, F2
transaction PIPR Common Stock Sale -$333K -2.56K -9.39% $130.31 24.7K May 23, 2023 Direct F1, F3
transaction PIPR Common Stock Sale -$72.1K -550 -2.23% $131.12 24.1K May 23, 2023 Direct F1, F4
holding PIPR Common Stock 55K May 22, 2023 Through Living Trust F5
* 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 shares of common stock were sold pursuant to a 10b5-1 trading plan.
F2 The price reported in Column 4 for all transactions on this report is a weighted average price. The shares sold in footnotes (2) through (4) were sold in multiple transactions at the price ranges provided in footnotes (2) through (4). These shares in footnote (2) were sold in multiple transactions at prices ranging from $130.0000 to $130.5800 inclusive. The reporting person undertakes to provide full information regarding the number of shares sold at each separate price within the range set forth in footnotes (2) through (4) upon request by the SEC staff, the issuer or any shareholder of the issuer.
F3 These shares were sold in multiple transactions at prices ranging from $130.0000 to $130.9900 inclusive.
F4 These shares were sold in multiple transactions at prices ranging from $131.0300 to $131.5000 inclusive.
F5 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.