PIPER SANDLER COMPANIES

Security Brokers, Dealers & Flotation Companies·MINNEAPOLIS, MN·FY end 12/31·CIK 1230245

CEO Pay Ratio

49:1

Chad R. Abraham

CEO Total Comp

$11.0M

Chad R. Abraham

Median Employee

$227,702

Revenue

$667.0M

FY 2025

Net Income

$114.0M

FY 2025

Free Cash Flow

—

FY 2025

Net Margin

17.1%

Insider Net (180d)

-$7.1M

0 buys / 6 sales

CEO Pay Accountability

CEO comp as % of net income

9.68%

For every $1,000 of profit, $96.78 flows to the CEO.

CEO comp as % of buybacks

8.82%

CEO comp equals 88.2‰ of cash returned to shareholders via buybacks.

5-year history · USD

Metric	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	Trend
Revenue	$667.0M	$485.4M	$474.2M	$393.3M	$650.8M
Gross Profit	—	—	—	—	—	—
Operating Income	—	—	—	—	—	—
Net Income	$114.0M	$69.1M	$52.0M	$38.1M	$113.5M
Operating CF	$586.6M	$313.3M	$275.6M	-$224.9M	$707.1M
Capex	—	—	—	—	—	—
Free Cash Flow	—	—	—	—	—	—
Buybacks	$125.0M	$66.4M	$70.7M	$187.3M	$69.9M
Dividends	$114.1M	$73.7M	$84.4M	$107.5M	$99.3M

Gross Margin	—	—	—	—	—	—
Operating Margin	—	—	—	—	—	—
Net Margin	17.1%	14.2%	11.0%	9.7%	17.4%
FCF Margin	—	—	—	—	—	—
R&D / Revenue	—	—	—	—	—	—
Effective Tax	42.7%	36.1%	24.8%	10.9%	25.6%
Debt / Equity	—	—	—	0.12	0.12
Buybacks / FCF	—	—	—	—	—	—

FY 2025

Executive	Salary	Stock	Options	Bonus / Inc.	Other	Total
Chad R. AbrahamCEO	$650.0K	$3.7M	—	$6.2M	$479.7K	$11.0M
Jonathan J. DoyleVice Chairman and Head of Financial Services	$500.0K	$2.2M	—	$2.3M	$1.2M	$6.1M
James P. Baker GlobalCo-Head of Investment Banking and Capital Markets	$425.0K	$1.7M	—	$3.4M	$145.8K	$5.7M
Michael R. Dillahunt GlobalCo-Head of Investment Banking and Capital Markets	$425.0K	$1.7M	—	$3.4M	$141.2K	$5.6M
Katherine P. CluneCFO	$425.0K	$1.1M	—	$1.8M	$41.4K	$3.4M