Form 4: Piper Sandler Director Ann C. Gallo Acquires Phantom Stock Through Dividend Reinvestment

Director Ann C. Gallo acquired one share of phantom stock in Piper Sandler Companies through dividend reinvestment.

Summary

• Ann C. Gallo, a director at Piper Sandler Companies, acquired one share of phantom stock on December 13, 2024.
• This acquisition was a result of dividend equivalents being reinvested in additional shares of phantom stock.
• The phantom shares are held in the directors' deferred compensation plan.
• These shares will be converted to common stock upon the 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. It is a standard practice and does not indicate any significant change in the company's financial health or outlook.

Industry Context

This is a routine filing related to director compensation and is common practice for companies with deferred compensation plans.

Comparison to Industry Standards

• Many financial services companies use phantom stock and deferred compensation plans as part of their director compensation packages.
• The practice of reinvesting dividends into phantom stock is a standard method for increasing the value of deferred compensation over time.
• Companies like Goldman Sachs, Morgan Stanley, and JP Morgan Chase also use similar compensation structures for their directors.

Stakeholder Impact

• The transaction has a minor positive impact on the director's compensation package.
• The transaction has no immediate impact on shareholders, employees, customers, suppliers, or creditors.

Key Dates

Keywords

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