You are cordially invited to join us for our 2006 annual ... - Piper Jaffray

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Perquisites**************************************************************************** 19Option Grants in Last Fiscal Year ******************************************************** 19Year-End Option Values ***************************************************************** 20Cash Award Agreements in Connection with Our Spin-off from U.S. Bancorp******************** 20Retirement Plans and Payments********************************************************** 21Termination and Change-in-Control Arrangements******************************************* 22Employment Arrangement with Addison L. Piper******************************************** 22STOCK PERFORMANCE GRAPH *********************************************************** 23ITEM 2 — APPROVAL OF THE PIPER JAFFRAY COMPANIES AMENDED AND RESTATED 2003ANNUAL AND LONG-TERM INCENTIVE PLAN ******************************************** 24Purpose ****************************************************************************** 25Eligible Individuals ********************************************************************* 25Administration ************************************************************************ 25Authorized Shares ********************************************************************* 25Stock Options************************************************************************* 26Stock Appreciation Rights *************************************************************** 26Restricted Stock and Restricted Stock Units ************************************************ 26Performance Awards ******************************************************************* 27Other Stock-Based Awards ************************************************************** 27Transferability of Awards **************************************************************** 27Change in Control ********************************************************************* 28Amendments and Termination *********************************************************** 28Term of the Plan*********************************************************************** 28Registration*************************************************************************** 28Tax Consequences of Awards ************************************************************ 28New Plan Benefits ********************************************************************* 29Outstanding Equity Awards************************************************************** 29SECURITY OWNERSHIP ****************************************************************** 30Stock Ownership Guidelines************************************************************* 30Executive Officers ********************************************************************** 30Non-Employee Directors **************************************************************** 30Beneficial Ownership of Directors, Nominees and Executive Officers *************************** 31Beneficial Owners of More than Five Percent of Our Common Stock*************************** 32SECTION 16(a) BENEFICIAL OWNERSHIP REPORTING COMPLIANCE ************************** 33CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS************************************ 33Compensation Committee Interlocks and Insider Participation ******************************** 33Related Transactions Involving Our Directors and Executive Officers *************************** 33AUDIT COMMITTEE REPORT AND PAYMENT OF FEES TO OUR INDEPENDENT AUDITOR******** 34Audit Committee Report **************************************************************** 34Auditor Fees ************************************************************************** 35Auditor Services Pre-Approval Policy ****************************************************** 35ITEM 3 — RATIFICATION OF SELECTION OF INDEPENDENT AUDITOR ************************ 35ITEM 4 — SHAREHOLDER PROPOSAL ***************************************************** 36SHAREHOLDER PROPOSALS FOR THE 2007 ANNUAL MEETING ****************************** 37ANNUAL REPORT TO SHAREHOLDERS AND FORM 10-K ************************************* 38OTHER MATTERS *********************************************************************** 38Piper Jaffray Companies Audit Committee Charter ******************************************** A-1Piper Jaffray Companies Amended and Restated 2003 Annual and Long-Term Incentive Plan ******** B-1ii
PROXY STATEMENT2006 ANNUAL MEETING OF SHAREHOLDERSTO BE HELD MAY 2, 2006The Board of Directors of Piper Jaffray Companies is soliciting proxies for use at the annualmeeting of shareholders to be held on May 2, 2006, and at any adjournment or postponement of themeeting. This proxy statement and the enclosed proxy card are first being mailed or given toshareholders on or about March 16, 2006.QUESTIONS AND ANSWERS ABOUT THE ANNUAL MEETING AND VOTINGWhat is the purpose of the meeting?At our annual meeting, shareholders will act upon the matters outlined in the Notice of AnnualMeeting of Shareholders. These include the election of directors, approval of our Amended andRestated 2003 Annual and Long-Term Incentive Plan, ratification of the selection of our independentauditor for 2006 and consideration of a shareholder proposal. Also, management will report onmatters of current interest to our shareholders and respond to questions from our shareholders.Who is entitled to vote at the meeting?The Board has set March 6, 2006, as the record date for the annual meeting. If you were ashareholder of record at the close of business on March 6, 2006, you are entitled to vote at themeeting. As of the record date, 20,722,849 shares of common stock, representing all of our votingstock, were issued and outstanding and, therefore, eligible to vote at the meeting.What are my voting rights?Holders of our common stock are entitled to one vote per share. Therefore, a total of 20,722,849votes are entitled to be cast at the meeting. There is no cumulative voting.How many shares must be present to hold the meeting?In accordance with our bylaws, shares equal to a majority of the voting power of the outstandingshares of common stock entitled to vote generally in the election of directors as of the record datemust be present at the annual meeting in order to hold the meeting and conduct business. This iscalled a quorum. Shares are counted as present at the meeting if:) you are present and vote in person at the meeting; or) you have properly and timely submitted your proxy as described below under ‘‘How do Isubmit my proxy?’’What is a proxy?It is your designation of another person to vote stock you own. That other person is called aproxy. If you designate someone as your proxy in a written document, that document also is called aproxy or a proxy card. When you designate a proxy, you also may direct the proxy how to vote yourshares. We refer to this as your ‘‘proxy vote.’’ Three executive officers have been designated as proxiesfor our 2006 annual meeting of shareholders. These executive officers are Andrew S. Duff, James L.Chosy and Sandra G. Sponem.
Page 1 and 2: 800 Nicollet Mall, Suite 800Mail St
Page 3: PROXY STATEMENTTABLE OF CONTENTSQUE
Page 7 and 8: What does it mean if I receive more
Page 9 and 10: espect to which you abstained from
Page 11 and 12: CLASS I DIRECTORS — TERMS ENDING
Page 13 and 14: ) Has authority to call meetings of
Page 15 and 16: shareholder meetings must timely pr
Page 17 and 18: (3)(4)Each non-employee director ex
Page 19 and 20: Annual Incentive CompensationThe an
Page 21 and 22: strategic initiatives. His annual i
Page 23 and 24: (6)respectively; for Mr. Peterson,
Page 25 and 26: compensation program. The cash awar
Page 27 and 28: STOCK PERFORMANCE GRAPHThe followin
Page 29 and 30: The Board of Directors recommends t
Page 31 and 32: waive in whole or in part any or al
Page 33 and 34: obligations under the plan are cond
Page 35 and 36: Beneficial Ownership of Directors,
Page 37 and 38: (2)(3)This information is based on
Page 39 and 40: Auditor FeesErnst & Young LLP serve
Page 41 and 42: ‘‘If you believe that one-year
Page 43 and 44: APPENDIX AI. PurposePIPER JAFFRAY C
Page 45 and 46: under ‘‘Management’s Discussi
Page 47 and 48: APPENDIX BSECTION 1. PurposePIPER J
Page 49 and 50: (z) ‘‘Rule 16b-3’’ means Ru
Page 51 and 52: shares subject to outstanding Stock
Page 53 and 54: (d) Performance Awards. The Committ
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(iii) All Performance Awards shall
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SECTION 10. General Provisions(a) N
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SECTION 11. Effective Date of PlanU
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You are cordially invited to join us for our 2006 annual ... - Piper Jaffray

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