Form 4: Sherry M. Smith Reports Acquisition of Piper Sandler Companies Stock

Director Sherry M. Smith reports acquiring 129 shares of Piper Sandler Companies common stock through dividend reinvestment.

Summary

• Sherry M. Smith, a director of Piper Sandler Companies, reported a transaction on March 14, 2025.
• Smith acquired 129 shares of common stock through dividend equivalents reinvested in additional shares of phantom stock.
• The price per share was $0.
• Following the transaction, Smith directly owns 10,208 shares of Piper Sandler Companies common stock.
• The 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.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction (dividend reinvestment) by a company director, suggesting a neutral to slightly positive sentiment as it indicates confidence in the company's performance.

Industry Context

This filing is a routine disclosure related to insider transactions, specifically the acquisition of shares through dividend reinvestment, which is a common practice for directors of publicly traded companies.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it involves a small number of shares acquired through dividend reinvestment.

Key Dates