SEC Form 4 · accession 0001230245-18-000067
PIPER SANDLER COMPANIES · PIPR
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
R Scott LaRue
Officer — Head Global IB and Cap Mkts · Director
Period of report
May 21, 2018
Accepted (ET)
May 23, 2018 · 12:21 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 | May 21, 2018 | M | 7,770 | — | A | 24,856 | D | |
| Common Stock | May 21, 2018 | F | 3,837 | $0.00 | D | 21,019 | D | |
| Common StockF2 | May 21, 2018 | G | 3,933 | $0.00 | D | 17,086 | D | |
| Common StockF3 | May 21, 2018 | G | 3,933 | $0.00 | A | 42,488 | I | Through Living Trust |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Performance RightsF1 | — | May 21, 2018 | M | 9,162 | D | — | May 15, 2018 | Common Stock | 9,162 | 0 | D |
Explanation of responses
- F1Each performance share unit represented a contingent right to receive one share of PJC common stock. The performance share units vested based on attaining certain levels of shareholder return, with 50% based on relative total shareholder return within a group of peer companies and 50% based on absolute total shareholder return, both as measured three years from the date of grant.
- F2The reporting person made a bona fide gift to a revocable living trust, as described in note 3 below.
- F3These shares are held through a revocable living trust, of which the reporting person is trustee and both the reporting person and the reporting persons's spouse are beneficiaries.