Piper Sandler Announces Grants of Inducement Equity Awards

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Piper Sandler Companies (NYSE: PIPR) announced that its board has approved equity awards under the Inducement Plan related to its acquisition of TRS Advisors. The plan includes granting $3 million in restricted shares to five current TRS Advisors employees. These awards aim to retain the talent post-acquisition and will be issued based on the trading price prior to the closing date. The issuance complies with NYSE regulations for employment inducement.

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Approval of $3 million in restricted stock grants aims to retain talent from TRS Advisors post-acquisition.
Equity awards demonstrate commitment to integrating TRS Advisors employees into Piper Sandler.

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12/30/2020 - 10:00 AM

Piper Sandler Companies (NYSE: PIPR), a leading investment bank, today announced that its board of directors has approved the grant of equity awards under the Piper Jaffray Companies 2020 Employment Inducement Award Plan (the 鈥淚nducement Plan鈥�) in connection with Piper Sandler鈥檚 acquisition of TRS Advisors, LLC (鈥淭RS Advisors鈥�).

Under the terms of the acquisition, Piper Sandler will grant an aggregate of $3 million of restricted shares of Piper Sandler common stock to five current TRS Advisors employees who will become Piper Sandler employees following the acquisition. The restricted stock granted will be issued immediately following the closing of the acquisition pursuant to the Inducement Plan and will be subject to the terms and conditions of the applicable award agreements entered into between Piper Sandler and each recipient. The restricted stock will be valued based upon the volume-weighted average per-share trading price of Piper Sandler common stock on the New York Stock Exchange for the ten trading days ending on the second trading day before the date of closing. The awards are intended to aid in the retention of the TRS Advisors employees.

The awards will be granted pursuant to the Inducement Plan in reliance on the employment inducement exemption under the NYSE鈥檚 Listed Company Manual Rule 303A.08. Pursuant to the requirements of that rule, Piper Sandler is issuing this press release.

About Piper Sandler

As a leading investment bank, we enable growth and success for our clients through deep sector expertise, candid advice and a differentiated, highly productive culture. We transcend transactions to define possibilities鈥攅nabling clients to achieve their short-term goals while realizing their long-term vision. Founded in 1895, the firm is headquartered in Minneapolis with offices across the United States and in London, Aberdeen and Hong Kong. .

Piper Sandler Companies (NYSE: PIPR) is a leading investment bank driven to help clients Realize the Power of Partnership庐. TRS Advisors was acquired by Piper Sandler and is a brand name used by the restructuring group of the Piper Sandler investment banking division. Securities brokerage and investment banking services are offered in the U.S. through Piper Sandler & Co., member SIPC and NYSE; in Europe through Piper Sandler Ltd., authorized and regulated by the U.K. Financial Conduct Authority; and in Hong Kong through Piper Sandler Hong Kong Limited, authorized and regulated by the Securities and Futures Commission. Private equity strategies and fixed income advisory services are offered through separately registered advisory affiliates.

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漏2020. Since 1895. Piper Sandler Companies. 800 Nicollet Mall, Minneapolis, Minnesota 55402-7036

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FAQ

What is the significance of the equity awards granted by Piper Sandler (PIPR)?

Piper Sandler's board approved $3 million in equity awards to retain employees from TRS Advisors post-acquisition, highlighting the importance of integrating key talent.

When will the restricted shares be issued to TRS Advisors employees?

The restricted shares will be issued immediately following the closing of the acquisition of TRS Advisors.

What regulations are involved in the granting of restricted shares by Piper Sandler?

The awards are granted under the employment inducement exemption per NYSE鈥檚 Listed Company Manual Rule 303A.08.

How does Piper Sandler plan to value the restricted shares for TRS Advisors employees?

The shares will be valued based on the volume-weighted average per-share trading price of Piper Sandler common stock for the ten trading days ending before the acquisition closing.

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