Piper Sandler Announces Grants of Inducement Equity Awards
16 September 2022 - 10:00PM
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
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version on businesswire.com: https://www.businesswire.com/news/home/20220916005393/en/
Tim Carter Chief Financial Officer Tel: 612 303-5607
timothy.carter@psc.com
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