Brian R. Sterling - 13 Jun 2025 Form 4 Insider Report for PIPER SANDLER COMPANIES (PIPR)

Role: Director
Signature: /s/ James Grant for Brian R. Sterling
Issuer symbol: PIPR
Transactions as of: 13 Jun 2025
Net transactions value: $0
Form type: 4
Filing time: 16 Jun 2025, 16:39:51 UTC
Previous filing: 23 May 2025
Next filing: 01 Jul 2025
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Sterling Brian R	Director	800 NICOLLET MALL, MINNEAPOLIS	/s/ James Grant for Brian R. Sterling	16 Jun 2025	0001837229

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	PIPR	Common Stock	Award	$0	+7	+0.03%	$0.000000	25,275	13 Jun 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.