X0306 4 2019-02-16 0001230245 PIPER JAFFRAY COMPANIES PJC 0001538590 LaRue R Scott 800 NICOLLET MALL MINNEAPOLIS MN 55402 1 1 0 0 Head Global IB and Cap Mkts Common Stock 2019-02-16 4 F 0 3278 0 D 13808 D Common Stock 2019-02-16 4 G 0 4073 0 D 9735 D Common Stock 2019-02-16 4 G 0 4073 0 A 46561 I Through Living Trust Common Stock 2019-02-16 4 F 0 1378 0 D 8357 D Common Stock 2019-02-16 4 G 0 1411 0 D 6946 D Common Stock 2019-02-16 4 G 0 1411 0 A 47972 I Through Living Trust Common Stock 2019-02-16 4 F 0 684 0 D 6262 D Common Stock 2019-02-16 4 G 0 701 0 D 5561 D Common Stock 2019-02-16 4 G 0 701 0 A 48673 I Through Living Trust Common Stock 2019-02-16 4 A 0 5406 0 A 10967 D The reporting person made a bona fide gift to a revocable living trust as described in note 2 below. The shares are held through a revocable living trust, of which the reporting person is trustee and both the reporting person and the reporting person's spouse are beneficiaries. /s/ John W. Geelan for R. Scott LaRue 2019-02-20