Robert E. Bowers - 17 Feb 2022 Form 4 Insider Report for Piedmont Office Realty Trust, Inc. (PDM)

Role: EVP-CFO&Admin Off
Signature: /s/ Laura P. Moon as Attorney-in-Fact for Robert E. Bowers
Issuer symbol: PDM
Transactions as of: 17 Feb 2022
Net transactions value: -$98,164
Form type: 4
Filing time: 22 Feb 2022, 15:34:53 UTC
Previous filing: 14 Feb 2022
Next filing: 04 May 2022
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	PDM	Common Stock	Options Exercise		+7,289	+2.3%		318,981	17 Feb 2022	Direct	F1, F2
transaction	PDM	Common Stock	Tax liability	$60,005	-3,507	-1.1%	$17.11	315,474	17 Feb 2022	Direct	F3
transaction	PDM	Common Stock	Options Exercise		+4,660	+1.5%		320,134	19 Feb 2022	Direct	F2, F4
transaction	PDM	Common Stock	Tax liability	$38,159	-2,242	-0.7%	$17.02	317,892	19 Feb 2022	Direct	F5

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	PDM	Restricted Stock Units	Options Exercise	$0	-7,289	-13%	$0.000000	48,377	17 Feb 2022	Common Stock	7,289	$0.000000	Direct	F2, F6
transaction	PDM	Restricted Stock Units	Options Exercise	$0	-4,660	-9.6%	$0.000000	43,717	19 Feb 2022	Common Stock	4,660	$0.000000	Direct	F2, F7

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Represents the vesting of 25% of a grant issued on February 17, 2021 of restricted stock units, which were settled in PDM common stock.
F2	Each restricted stock unit represents a contingent right to receive one share of PDM common stock. Restricted stock units may be settled in cash or common stock at PDM's election.
F3	In connection with the vesting on February 17, 2022 reported above, 3,507 shares were forfeited by the employee and delivered to PDM to satisfy tax withholding obligations.
F4	Represents the vesting of 25% of a grant issued on February 19, 2020 of restricted stock units, which were settled in PDM common stock.
F5	In connection with the vesting on February 19, 2022 reported above, 2,242 shares were forfeited by the employee and delivered to PDM to satisfy tax withholding obligations.
F6	On February 17, 2021, the reporting person was granted 29,155 restricted stock units, vesting in four equal, annual installments beginning on the grant date.
F7	On February 19, 2020, the reporting person was granted 18,640 restricted stock units, vesting in four equal, annual installments beginning on the grant date.