George M. Wells - Feb 10, 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
Stock symbol
PDM
Transactions as of
Feb 10, 2023
Transactions value $
-$44,365
Form type
4
Date filed
2/14/2023, 04:05 PM
Previous filing
Feb 3, 2023
Next filing
Feb 21, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PDM Common Stock Options Exercise +3.34K +3.96% 87.7K Feb 10, 2023 Direct F1, F2
transaction PDM Common Stock Tax liability -$16.7K -1.61K -1.83% $10.40 86.1K Feb 10, 2023 Direct F1
transaction PDM Common Stock Options Exercise +5.45K +6.33% 91.6K Feb 13, 2023 Direct F2, F3
transaction PDM Common Stock Tax liability -$27.7K -2.62K -2.86% $10.55 88.9K Feb 13, 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 -3.34K -19.17% $0.00 14.1K Feb 10, 2023 Common Stock 3.34K $0.00 Direct F1, F2
transaction PDM Restricted Stock Units Award $0 +21.8K +154.86% $0.00 35.9K Feb 13, 2023 Common Stock 21.8K $0.00 Direct F2, F3
transaction PDM Restricted Stock Units Options Exercise $0 -5.45K -15.19% $0.00 30.4K Feb 13, 2023 Common Stock 5.45K $0.00 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.