December 31, 2025 · Form 4 insider transaction
Sterling Brian R bought 75 shares of Piper Sandler Companies at $0.00 per share, a transaction worth N/A. The trade was recorded as grant or award and disclosed on an SEC Form 4, filed 2 days after the transaction.
The reporting person elected to defer receipt of quarterly director cash retainer fees resulting in the accrual to his account of 75 shares of phantom stock. The shares of phantom stock become payable, in common stock, on the last day of the year in which the reporting person's service as a director terminates.