Edward H. Guilbert III - 10 Feb 2023 Form 4 Insider Report for Piedmont Office Realty Trust, Inc. (PDM)

Role: EVP - Finance & Treasurer
Signature: /s/ Laura P. Moon as Attorney-in-Fact for Edward H. Guilbert III
Issuer symbol: PDM
Transactions as of: 10 Feb 2023
Net transactions value: -$27,466
Form type: 4
Filing time: 14 Feb 2023, 16:00:55 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		+2,374	+3.6%		68,235	10 Feb 2023	Direct	F1, F2
transaction	PDM	Common Stock	Tax liability	$10,650	-1,024	-1.5%	$10.40	67,211	10 Feb 2023	Direct	F1
transaction	PDM	Common Stock	Options Exercise		+3,697	+5.5%		70,908	13 Feb 2023	Direct	F2, F3
transaction	PDM	Common Stock	Tax liability	$16,817	-1,594	-2.2%	$10.55	69,314	13 Feb 2023	Direct

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	-2,374	-18%	$0.000000	11,130	10 Feb 2023	Common Stock	2,374	$0.000000	Direct	F1, F2
transaction	PDM	Restricted Stock Units	Award	$0	+14,787	+133%	$0.000000	25,917	13 Feb 2023	Common Stock	14,787	$0.000000	Direct	F2, F3
transaction	PDM	Restricted Stock Units	Options Exercise	$0	-3,697	-14%	$0.000000	22,220	13 Feb 2023	Common Stock	3,697	$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 9,496 restricted stock units, vesting in four equal, annual installments beginning on the grant date. On February 10, 2023, 25% of the grant vested (2,374 shares), and were settled in PDM common stock. In connection with this vesting, 1,024 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 14,787 restricted stock units, vesting in four equal, annual installments beginning on the grant date. As such, 25% of the grant vested (3,697 shares) on February 13, 2023, and were settled in PDM common stock. In connection with this vesting, 1,594 shares were forfeited by the employee and delivered to PDM to satisfy tax withholding obligations.