Cover
Cover | 12 Months Ended |
Dec. 31, 2022 | |
Document Information [Line Items] | |
Document Type | DEF 14A |
Amendment Flag | false |
Entity Information [Line Items] | |
Entity Registrant Name | Piper Sandler Companies |
Entity Central Index Key | 0001230245 |
Pay vs Performance Disclosure
Pay vs Performance Disclosure | 12 Months Ended | ||
Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | |
Pay vs Performance Disclosure [Table] | |||
Pay vs Performance [Table Text Block] | Pay Versus Performance The following table contains additional compensation and performance information for our CEO (our principal executive officer ) and other named executive officers (sometimes abbreviated in this section as “NEO”) for the fiscal years noted in the table. The disclosure included in this section is prescribed by SEC rules. For a discussion of how the company views its executive compensation program, including alignment with company performance, see the CD&A above. Year Summary Compensation (1) ($) Average (2) ($) Average (2) ($) Value of Initial GAAP Adjusted (4) ($) TSR Peer (3) ($) 2022 11,182,201 4,446,107 4,981,196 2,227,357 184.02 134.26 101,180,000 269,153,000 2021 9,138,214 19,556,186 5,480,436 10,319,156 240.26 151.31 330,368,000 549,952,000 2020 6,693,850 9,327,590 6,794,365 8,212,364 129.64 111.36 49,356,000 250,288,000 (1) A reconciliation of Total Compensation from the Summary Compensation Table to Compensation Actually Paid (sometimes abbreviated in this section as “CAP”) to our CEO and the average of our other NEOs is shown below: Summary Exclusion of Stock Inclusion of Compensation Chad R. Abraham 2022 11,182,201 (6,160,412 ) (575,682 ) 4,446,107 2021 9,138,214 (3,085,233 ) 13,503,205 19,556,186 2020 6,693,850 (2,522,168 ) 5,155,908 9,327,590 Average of Non-CEO NEOs 2022 4,981,196 (1,746,541 ) (1,007,298 ) 2,227,357 2021 5,480,436 (1,175,465 ) 6,014,185 10,319,156 2020 6,794,365 (3,178,065 ) 4,596,064 8,212,364 * The amounts in the Inclusion of Equity Values in the table above are derived from the amounts set forth in the following table: Year-End Change in Vesting-Date Change in Fair Value at Value of Total— Chad R. 2022 4,503,199 (3,854,605 ) — (1,224,276 ) — — (575,682 ) 2021 6,614,712 6,707,894 — 180,599 — — 13,503,205 2020 3,402,432 1,721,959 — 31,517 — — 5,155,908 Average of 2022 1,309,496 (2,213,711 ) — (103,083 ) — — (1,007,298 ) 2021 2,320,693 3,660,132 — 33,360 — — 6,014,185 2020 4,085,084 504,155 — 6,825 — — 4,596,064 (2) The CEO is Chad R. Abraham for all reported years; the other named executive officers included for the year 2022 includes Messrs. Baker, Carter, Dillahunt, and Doyle. With respect to 2021, this group included Messrs. Baker, Carter, and Doyle and Debbra L. Schoneman, President. With respect to 2020, this group included Messrs. Carter, Doyle, and R. Scott LaRue, former Global Co-Head of Investment Banking and Capital Markets, and Ms. Schoneman. (3) Our peer group used for the TSR calculation is the S&P 500 Diversified Financials index, which is the industry index used to show our performance in our 2022 Form 10-K. Each year reflects what the cumulative value of $100 would be, including reinvestment of dividends, if such amount were invested on December 31, 2019. (4) Our company-selected measure, adjusted pre-tax operating income, a non-GAAP measure, is defined and reconciled in Appendix A to this proxy statement. | ||
Company Selected Measure Name | Adjusted Pre-Tax Operating Income | ||
Named Executive Officers, Footnote [Text Block] | (2) The CEO is Chad R. Abraham for all reported years; the other named executive officers included for the year 2022 includes Messrs. Baker, Carter, Dillahunt, and Doyle. With respect to 2021, this group included Messrs. Baker, Carter, and Doyle and Debbra L. Schoneman, President. With respect to 2020, this group included Messrs. Carter, Doyle, and R. Scott LaRue, former Global Co-Head of Investment Banking and Capital Markets, and Ms. Schoneman. | ||
Peer Group Issuers, Footnote [Text Block] | (3) Our peer group used for the TSR calculation is the S&P 500 Diversified Financials index, which is the industry index used to show our performance in our 2022 Form 10-K. Each year reflects what the cumulative value of $100 would be, including reinvestment of dividends, if such amount were invested on December 31, 2019. | ||
PEO Total Compensation Amount | $ 11,182,201 | $ 9,138,214 | $ 6,693,850 |
PEO Actually Paid Compensation Amount | $ 4,446,107 | 19,556,186 | 9,327,590 |
Adjustment To PEO Compensation, Footnote [Text Block] | (1) A reconciliation of Total Compensation from the Summary Compensation Table to Compensation Actually Paid (sometimes abbreviated in this section as “CAP”) to our CEO and the average of our other NEOs is shown below: Summary Exclusion of Stock Inclusion of Compensation Chad R. Abraham 2022 11,182,201 (6,160,412 ) (575,682 ) 4,446,107 2021 9,138,214 (3,085,233 ) 13,503,205 19,556,186 2020 6,693,850 (2,522,168 ) 5,155,908 9,327,590 Average of Non-CEO NEOs 2022 4,981,196 (1,746,541 ) (1,007,298 ) 2,227,357 2021 5,480,436 (1,175,465 ) 6,014,185 10,319,156 2020 6,794,365 (3,178,065 ) 4,596,064 8,212,364 * The amounts in the Inclusion of Equity Values in the table above are derived from the amounts set forth in the following table: Year-End Change in Vesting-Date Change in Fair Value at Value of Total— Chad R. 2022 4,503,199 (3,854,605 ) — (1,224,276 ) — — (575,682 ) 2021 6,614,712 6,707,894 — 180,599 — — 13,503,205 2020 3,402,432 1,721,959 — 31,517 — — 5,155,908 Average of 2022 1,309,496 (2,213,711 ) — (103,083 ) — — (1,007,298 ) 2021 2,320,693 3,660,132 — 33,360 — — 6,014,185 2020 4,085,084 504,155 — 6,825 — — 4,596,064 | ||
Non-PEO NEO Average Total Compensation Amount | $ 4,981,196 | 5,480,436 | 6,794,365 |
Non-PEO NEO Average Compensation Actually Paid Amount | $ 2,227,357 | 10,319,156 | 8,212,364 |
Adjustment to Non-PEO NEO Compensation Footnote [Text Block] | (1) A reconciliation of Total Compensation from the Summary Compensation Table to Compensation Actually Paid (sometimes abbreviated in this section as “CAP”) to our CEO and the average of our other NEOs is shown below: Summary Exclusion of Stock Inclusion of Compensation Chad R. Abraham 2022 11,182,201 (6,160,412 ) (575,682 ) 4,446,107 2021 9,138,214 (3,085,233 ) 13,503,205 19,556,186 2020 6,693,850 (2,522,168 ) 5,155,908 9,327,590 Average of Non-CEO NEOs 2022 4,981,196 (1,746,541 ) (1,007,298 ) 2,227,357 2021 5,480,436 (1,175,465 ) 6,014,185 10,319,156 2020 6,794,365 (3,178,065 ) 4,596,064 8,212,364 * The amounts in the Inclusion of Equity Values in the table above are derived from the amounts set forth in the following table: Year-End Change in Vesting-Date Change in Fair Value at Value of Total— Chad R. 2022 4,503,199 (3,854,605 ) — (1,224,276 ) — — (575,682 ) 2021 6,614,712 6,707,894 — 180,599 — — 13,503,205 2020 3,402,432 1,721,959 — 31,517 — — 5,155,908 Average of 2022 1,309,496 (2,213,711 ) — (103,083 ) — — (1,007,298 ) 2021 2,320,693 3,660,132 — 33,360 — — 6,014,185 2020 4,085,084 504,155 — 6,825 — — 4,596,064 | ||
Compensation Actually Paid vs. Total Shareholder Return [Text Block] | |||
Compensation Actually Paid vs. Net Income [Text Block] | |||
Compensation Actually Paid vs. Company Selected Measure [Text Block] | |||
Tabular List [Table Text Block] | Tabular List of Most Important Performance Measures Used to Determine Compensation Actually Paid for 2022 The following table lists the most important performance measures used by the Committee when determining compensation actually paid for our named executive officers in 2022. The measures in the table are not ranked. Adjusted Pre-Tax Operating Income* Adjusted ROE* Adjusted Earnings Per Share* Adjusted Net Revenues* Relative TSR * Non-GAAP measures which are defined and reconciled to the most directly comparable GAAP financial measure in Appendix A to this proxy statement. | ||
Total Shareholder Return Amount | $ 184.02 | 240.26 | 129.64 |
Peer Group Total Shareholder Return Amount | 134.26 | 151.31 | 111.36 |
Net Income (Loss) | $ 101,180,000 | $ 330,368,000 | $ 49,356,000 |
Company Selected Measure Amount | 269,153,000 | 549,952,000 | 250,288,000 |
PEO Name | Chad R. Abraham | ||
Measure [Axis]: 1 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Adjusted Pre-Tax Operating Income | ||
Non-GAAP Measure Description [Text Block] | (4) Our company-selected measure, adjusted pre-tax operating income, a non-GAAP measure, is defined and reconciled in Appendix A to this proxy statement. | ||
Measure [Axis]: 2 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Adjusted Net Revenues | ||
Measure [Axis]: 3 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Adjusted ROE | ||
Measure [Axis]: 4 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Relative TSR | ||
Measure [Axis]: 5 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Adjusted Earnings Per Share* | ||
PEO [Member] | Exclusion Of Stock Awards [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | $ (6,160,412) | $ (3,085,233) | $ (2,522,168) |
PEO [Member] | Inclusion Of Equity Values [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (575,682) | 13,503,205 | 5,155,908 |
PEO [Member] | Equity Awards Granted During Year That Remained Unvested As Of Last Day Of Year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 4,503,199 | 6,614,712 | 3,402,432 |
PEO [Member] | Change In Fair Value From Last Day Of Prior Year To Last Day Of Year Of Unvested Equity Awards [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (3,854,605) | 6,707,894 | 1,721,959 |
PEO [Member] | Change In Fair Value From Last Day Of Prior Year To Vesting Date Of Unvested Equity Awards That Vested During Year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (1,224,276) | 180,599 | 31,517 |
Non-PEO NEO [Member] | Exclusion Of Stock Awards [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (1,746,541) | (1,175,465) | (3,178,065) |
Non-PEO NEO [Member] | Inclusion Of Equity Values [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (1,007,298) | 6,014,185 | 4,596,064 |
Non-PEO NEO [Member] | Equity Awards Granted During Year That Remained Unvested As Of Last Day Of Year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 1,309,496 | 2,320,693 | 4,085,084 |
Non-PEO NEO [Member] | Change In Fair Value From Last Day Of Prior Year To Last Day Of Year Of Unvested Equity Awards [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (2,213,711) | 3,660,132 | 504,155 |
Non-PEO NEO [Member] | Change In Fair Value From Last Day Of Prior Year To Vesting Date Of Unvested Equity Awards That Vested During Year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | $ (103,083) | $ 33,360 | $ 6,825 |