Robert E. Bowers - 10 Feb 2023 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: 10 Feb 2023
Net transactions value: -$105,523
Form type: 4
Filing time: 14 Feb 2023, 15:58:34 UTC
Previous filing: 03 Feb 2023
Next filing: 21 Feb 2023
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		+8,160	+2.5%		332,214	10 Feb 2023	Direct	F1, F2
transaction	PDM	Common Stock	Tax liability	$40,820	-3,925	-1.2%	$10.40	328,289	10 Feb 2023	Direct	F1
transaction	PDM	Common Stock	Options Exercise		+12,749	+3.9%		341,038	13 Feb 2023	Direct	F2, F3
transaction	PDM	Common Stock	Tax liability	$64,703	-6,133	-1.8%	$10.55	334,905	13 Feb 2023	Direct	F3

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	-8,160	-19%	$0.000000	35,557	10 Feb 2023	Common Stock	8,160	$0.000000	Direct	F1, F2
transaction	PDM	Restricted Stock Units	Award	$0	+50,995	+143%	$0.000000	86,552	13 Feb 2023	Common Stock	50,995	$0.000000	Direct	F2, F3
transaction	PDM	Restricted Stock Units	Options Exercise	$0	-12,749	-15%	$0.000000	73,803	13 Feb 2023	Common Stock	12,749	$0.000000	Direct	F2, F3

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

Explanation of Responses:

Id	Content
F1	On February 10, 2022, the reporting person was granted 32,641 restricted stock units, vesting in four equal, annual installments beginning on the grant date. On February 10, 2023, 25% of the grant vested (8,160 shares), and were settled in PDM common stock. In connection with this vesting, 3,925 shares were forfeited by the employee and delivered to PDM to satisfy tax withholding obligations.
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	On February 13, 2023, the reporting person was granted 50,995 restricted stock units, vesting in four equal, annual installments beginning on the grant date. As such, 25% of the grant vested (12,749 shares) on February 13, 2023, and were settled in PDM common stock. In connection with this vesting, 6,133 shares were forfeited by the employee and delivered to PDM to satisfy tax withholding obligations.