George M. Wells - 10 Feb 2023 Form 4 Insider Report for Piedmont Office Realty Trust, Inc. (PDM)

Role: EVP- Chief Operating Officer
Signature: /s/ Laura P. Moon as Attorney-in-Fact for George M. Wells
Issuer symbol: PDM
Transactions as of: 10 Feb 2023
Net transactions value: -$44,364
Form type: 4
Filing time: 14 Feb 2023, 16:05:54 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		+3,338	+4%		87,722	10 Feb 2023	Direct	F1, F2
transaction	PDM	Common Stock	Tax liability	$16,702	-1,606	-1.8%	$10.40	86,116	10 Feb 2023	Direct	F1
transaction	PDM	Common Stock	Options Exercise		+5,451	+6.3%		91,567	13 Feb 2023	Direct	F2, F3
transaction	PDM	Common Stock	Tax liability	$27,662	-2,622	-2.9%	$10.55	88,945	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	-3,338	-19%	$0.000000	14,078	10 Feb 2023	Common Stock	3,338	$0.000000	Direct	F1, F2
transaction	PDM	Restricted Stock Units	Award	$0	+21,801	+155%	$0.000000	35,879	13 Feb 2023	Common Stock	21,801	$0.000000	Direct	F2, F3
transaction	PDM	Restricted Stock Units	Options Exercise	$0	-5,451	-15%	$0.000000	30,428	13 Feb 2023	Common Stock	5,451	$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 13,353 restricted stock units, vesting in four equal, annual installments beginning on the grant date. On February 10, 2023, 25% of the grant vested (3,338 shares), and were settled in PDM common stock. In connection with this vesting, 1,606 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 21,801 restricted stock units, vesting in four equal, annual installments beginning on the grant date. As such, 25% of the grant vested (5,451 shares) on February 13, 2023, and were settled in PDM common stock. In connection with this vesting, 2,622 shares were forfeited by the employee and delivered to PDM to satisfy tax withholding obligations.