Piper Sandler Announces Grants of Inducement Equity Awards
16 Agosto 2024 - 3:30PM
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 2024 employment
inducement award plan (the “Inducement Plan”) in connection with
the firm’s pending acquisition of Aviditi Capital Advisors, LLC
(“Aviditi Advisors”).
Under the terms of the acquisition, Piper Sandler will grant up
to $12.4 million payable in restricted shares of Piper Sandler
common stock to 19 current Aviditi 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
thereof. 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 10 trading days
ending on the third trading day before the date of closing. The
awards are intended to aid in the retention of the Aviditi Advisors
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
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—enabling 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. Learn more at 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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©2024. 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/20240816440123/en/
Kate Clune Chief Financial Officer Tel: 212 466-7799
kate.clune@psc.com
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