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Piper Sandler Announces Grants of Inducement Equity Awards

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Piper Sandler Companies (NYSE: PIPR) has approved equity awards totaling $17.5 million as part of its acquisition of DBO Partners. The awards, granted under the 2022 employment inducement award plan, will be issued in restricted shares to eight DBO employees transitioning to Piper Sandler. This move is aimed at retaining talent post-acquisition and will reflect the trading price of Piper Sandler stock prior to the deal's closing. The awards comply with NYSE rules regarding employment inducement awards.

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  • Granting of $17.5 million in restricted shares to retain DBO employees enhances talent acquisition post-merger.
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MINNEAPOLIS--(BUSINESS WIRE)-- 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 Sandler Companies 2022 employment inducement award plan (the “Inducement Plan”) in connection with Piper Sandler’s acquisition of DBO Partners (“DBO”).

Under the terms of the acquisition, Piper Sandler will grant $17.5 million payable in restricted shares of Piper Sandler common stock to eight current DBO 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 third trading day before the date of closing. The awards are intended to aid in the retention of the DBO employees.

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

Piper Sandler is a leading investment bank driven to help clients Realize the Power of Partnership®. Through a distinct combination of candid counsel, focused expertise and empowered employees, we deliver insight and impact to each and every relationship. Our proven advisory teams combine deep product and sector expertise with ready access to global capital. Founded in 1895, the firm is headquartered in Minneapolis with offices across the United States and in London, Aberdeen and Hong Kong. www.PiperSandler.com

Piper Sandler Companies (NYSE: PIPR) is a leading investment bank driven to help clients Realize the Power of Partnership®. 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. Alternative asset management and fixed income advisory services are offered through separately registered advisory affiliates.

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©2022. Since 1895. Piper Sandler Companies. 800 Nicollet Mall, Minneapolis, Minnesota 55402-7036

Tim Carter

Chief Financial Officer

Tel: 612 303-5607

timothy.carter@psc.com

Source: Piper Sandler Companies

FAQ

What is the amount of equity awards granted by Piper Sandler in connection with the DBO acquisition?

Piper Sandler has granted $17.5 million in equity awards as part of the DBO acquisition.

Who will receive the restricted shares from Piper Sandler?

Eight current employees of DBO Partners will receive the restricted shares.

What is the purpose of the equity awards granted by Piper Sandler?

The equity awards aim to retain DBO employees after the acquisition.

When will the restricted stock be issued to DBO employees by Piper Sandler?

The restricted stock will be issued immediately following the closing of the acquisition.

Under what plan are the equity awards from Piper Sandler granted?

The equity awards are granted under the 2022 employment inducement award plan.

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