Form 4: Piper Sandler Director Scott C. Taylor Acquires Phantom Stock Through Deferred Fees

Director Scott C. Taylor of Piper Sandler Companies acquired 93 shares of phantom stock due to deferred director fees.

Summary

• Scott C. Taylor, a director at Piper Sandler Companies, acquired 93 shares of phantom stock on December 31, 2024.
• This acquisition resulted from the deferral of quarterly director cash retainer fees.
• The phantom stock will be converted to common stock upon the termination of Mr. Taylor's service as a director.
• The price of the phantom stock at the time of acquisition was $0.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to director compensation, which is generally neutral to positive. It indicates alignment of interests between the director and the company.

Future Outlook

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

Industry Context

This is a standard practice for director compensation, where directors may elect to defer fees into company stock.

Comparison to Industry Standards

• Deferred compensation plans, including phantom stock, are common among publicly traded companies as a way to align director interests with shareholder value.
• Many financial services firms use similar methods to compensate their board members, such as Goldman Sachs and Morgan Stanley, often with vesting schedules or deferred payout options.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders as it aligns director interests with the long-term performance of the company.

Key Dates

Keywords

phantom stock, director, deferred fees, insider trading, equity, compensation, PIPR, Piper Sandler