SEC Form 4 · accession 0001230245-16-000248
PIPER SANDLER COMPANIES · PIPR
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Sherry M Smith
Director
Period of report
May 4, 2016
Accepted (ET)
May 6, 2016 · 5:12 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001230245
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1,F2 | May 4, 2016 | A | 1,803 | — | A | 3,583 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1The reporting person elected to defer receipt of an annual equity grant of 1,803 shares of common stock resulting in an accrual to her account of 1,803 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.
- F2Reflects a reduction by 216 in the total number of phantom shares in order to correct an administrative error that resulted in an erroneous report of phantom shares having been acquired on April 1, 2016. The 213 shares of phantom stock erroneously reported as having been acquired were reported as derivative securities on Table II, because they would have been payable in cash. All of the reporting person's phantom shares are payable in common stock on the last day of the year in which the reporting person's service as a director terminates and are reported in this Table I.