Piper Sandler Announces Grants of Inducement Equity Awards
Piper Sandler Companies (NYSE: PIPR) has announced that its board of directors has approved equity awards under the 2024 employment inducement award plan in connection with the pending acquisition of Aviditi Capital Advisors, The firm will grant up to $12.4 million in restricted shares of Piper Sandler common stock to 19 current Aviditi Advisors employees who will join Piper Sandler post-acquisition. The restricted stock will be issued immediately after the closing and will be subject to specific terms and conditions. The stock value will be based on the 10-day volume-weighted average trading price on the NYSE, ending three days before the closing date. These awards are intended to aid in employee retention and are granted under the NYSE's employment inducement awards exemption.
Piper Sandler Companies (NYSE: PIPR) ha annunciato che il suo consiglio di amministrazione ha approvato premi azionari nell'ambito del piano di incentivazione all'impiego del 2024, in relazione all'acquisizione in corso di Aviditi Capital Advisors. La società concederà fino a 12,4 milioni di dollari in azioni limitate delle azioni ordinarie di Piper Sandler a 19 attuali dipendenti di Aviditi Advisors che si uniranno a Piper Sandler dopo l'acquisizione. Le azioni limitate saranno emesse immediatamente dopo la chiusura dell'operazione e saranno soggette a specifici termini e condizioni. Il valore delle azioni sarà basato sul prezzo medio ponderato per il volume delle ultime 10 giornate di trading sulla NYSE, che terminerà tre giorni prima della data di chiusura. Questi premi sono pensati per favorire la retention del personale e vengono concessi nell'ambito dell'esenzione sui premi di incentivazione all'impiego della NYSE.
Piper Sandler Companies (NYSE: PIPR) ha anunciado que su junta directiva ha aprobado premios de acciones en virtud del plan de inducción de empleo 2024, en relación con la adquisición pendiente de Aviditi Capital Advisors. La firma otorgará hasta 12.4 millones de dólares en acciones restringidas de las acciones comunes de Piper Sandler a 19 empleados actuales de Aviditi Advisors que se unirán a Piper Sandler después de la adquisición. Las acciones restringidas se emitirán de inmediato después del cierre y estarán sujetas a términos y condiciones específicos. El valor de las acciones se basará en el precio medio ponderado por volumen de 10 días en la NYSE, finalizando tres días antes de la fecha de cierre. Estos premios están destinados a ayudar en la retención de empleados y se otorgan bajo la exención de premios de indución de empleo de la NYSE.
Piper Sandler Companies (NYSE: PIPR)가 이사회가 Aviditi Capital Advisors의 인수와 관련하여 2024 고용 유인 상여 계획에 따라 주식 보상을 승인했다고 발표했습니다. 이 회사는 인수 후 Piper Sandler에 합류할 19명의 현재 Aviditi Advisors 직원에게 최대 1,240만 달러의 제한된 주식을 부여할 예정입니다. 제한된 주식은 거래가 종료된 후 즉시 발행되며 특정 조건의 적용을 받습니다. 주식 가치는 종료일 3일 전 NYSE에서의 10일간의 거래량 가중 평균 가격을 기준으로 합니다. 이러한 상여는 직원 retention을 돕기 위해 고안되었으며 NYSE의 고용 유인 상여 면제를 통해 지급됩니다.
Piper Sandler Companies (NYSE: PIPR) a annoncé que son conseil d'administration a approuvé des attributions d'actions dans le cadre du plan d'incitation à l'emploi 2024, en lien avec l'acquisition imminente d'Aviditi Capital Advisors. La firme attribuera jusqu'à 12,4 millions de dollars en actions restreintes des actions ordinaires de Piper Sandler à 19 employés actuels d'Aviditi Advisors qui rejoindront Piper Sandler après l'acquisition. Les actions restreintes seront émises immédiatement après la clôture et seront soumises à des conditions spécifiques. La valeur des actions sera basée sur le prix moyen pondéré par le volume des 10 derniers jours à la NYSE, se terminant trois jours avant la date de clôture. Ces attributions visent à favoriser la rétention des employés et sont accordées dans le cadre de l'exemption de la NYSE sur les primes d'incitation à l'emploi.
Piper Sandler Companies (NYSE: PIPR) hat bekannt gegeben, dass der Vorstand die Gewährung von Aktienprämien im Rahmen des Anreizprogramms für die Beschäftigung 2024 genehmigt hat, welches im Zusammenhang mit der bevorstehenden Übernahme von Aviditi Capital Advisors steht. Das Unternehmen wird bis zu 12,4 Millionen USD in beschränkten Aktien der Piper Sandler-Stammaktien an 19 aktuelle Mitarbeiter von Aviditi Advisors vergeben, die nach der Übernahme zu Piper Sandler stoßen werden. Die beschränkten Aktien werden unmittelbar nach dem Abschluss ausgegeben und unterliegen bestimmten Bedingungen. Der Wert der Aktien basiert auf dem volumen-gewichteten Durchschnittspreis der letzten 10 Tage an der NYSE, der drei Tage vor dem Abschlussdatum endet. Diese Prämien sollen der Mitarbeiterbindung helfen und werden unter der Ausnahme für Beschäftigungsanreizpreise der NYSE gewährt.
- Acquisition of Aviditi Capital Advisors, potentially expanding Piper Sandler's business capabilities
- Retention strategy for key employees through equity awards, potentially ensuring continuity of expertise
- Potential dilution of existing shareholders due to the issuance of up to $12.4 million in new restricted shares
Insights
The acquisition of Aviditi Capital Advisors by Piper Sandler is a strategic move that could strengthen PIPR's market position. The $12.4 million in restricted stock grants to 19 key employees is a smart retention strategy, aligning their interests with the company's long-term success. This approach may help ensure a smoother integration and maintain valuable expertise.
However, investors should note that while this move may boost Piper Sandler's capabilities, it also represents a dilution of existing shareholders' equity. The impact on earnings per share will depend on the performance of the acquired business and retained talent. Overall, this acquisition and retention strategy could be positive for PIPR's growth prospects, but careful execution will be key to realizing its full potential.
This acquisition signals Piper Sandler's intent to expand its advisory capabilities, potentially in a niche or high-growth area. The retention of Aviditi's employees through equity grants suggests the acquisition is primarily about talent and client relationships, rather than just assets or technology.
The use of restricted stock, valued based on a 10-day volume-weighted average price, is a prudent approach to align incentives. It protects against short-term price fluctuations and encourages long-term commitment. For investors, this move could indicate Piper Sandler's confidence in its stock value and future growth prospects. However, the effectiveness of this strategy in retaining talent and driving growth will only become clear in the coming quarters.
Under the terms of the acquisition, Piper Sandler will grant up to
The awards will be granted pursuant to the Inducement Plan in reliance on the employment inducement awards exemption under the NYSE’s Listed Company Manual Rule 303A.08. Pursuant to the requirements of that rule, Piper Sandler is issuing this press release.
About Piper Sandler
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Kate Clune
Chief Financial Officer
Tel: 212 466-7799
kate.clune@psc.com
Source: Piper Sandler Companies
FAQ
How much is Piper Sandler (PIPR) granting in equity awards for the Aviditi Capital Advisors acquisition?
When will the restricted stock be issued by Piper Sandler (PIPR) for the Aviditi acquisition?
How will the value of the restricted stock be determined for Piper Sandler's (PIPR) Aviditi acquisition?
What is the purpose of Piper Sandler's (PIPR) equity awards in the Aviditi Capital Advisors acquisition?
