Form 4: Piper Sandler Director Acquires Phantom Stock Through Dividend Reinvestment

Director Victoria M. Holt acquired 13 shares of phantom stock in Piper Sandler Companies through dividend reinvestment.

Summary

• Victoria M. Holt, a director at Piper Sandler Companies, acquired 13 shares of phantom stock on December 13, 2024.
• The acquisition was a result of dividend equivalents being reinvested in additional shares of phantom stock.
• These phantom shares are held in the directors' deferred compensation plan.
• The shares will be converted to an equal number of common stock shares upon termination of her service as a director.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to director compensation, which is neither positive nor negative for the company's overall performance. It is a neutral event.

Future Outlook

The phantom stock will be converted to common stock upon the director's termination of service.

Industry Context

This is a routine transaction related to director compensation and is common practice in publicly traded companies.

Comparison to Industry Standards

• Many publicly traded companies use deferred compensation plans for directors, often including phantom stock or similar instruments.
• Dividend reinvestment in phantom stock is a standard method for increasing the value of these deferred compensation plans.
• The terms of the plan are typical for director compensation packages.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is related to director compensation.

Key Dates

Keywords

phantom stock, dividend reinvestment, director, deferred compensation, Piper Sandler Companies, PIPR, insider transaction