Christopher Brent Smith - Feb 17, 2023 Form 4 Insider Report for Piedmont Office Realty Trust, Inc. (PDM)

Role
President & Chief Exec. Off, Director
Signature
/s/ Laura P. Moon as Attorney-in-Fact for Christopher Brent Smith
Stock symbol
PDM
Transactions as of
Feb 17, 2023
Transactions value $
-$92,187
Form type
4
Date filed
2/21/2023, 03:38 PM
Previous filing
Feb 14, 2023
Next filing
Feb 27, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PDM Common Stock Options Exercise +11.7K +4.49% 272K Feb 17, 2023 Direct F1, F2
transaction PDM Common Stock Tax liability -$56.3K -5.61K -2.07% $10.04 266K Feb 17, 2023 Direct F1
transaction PDM Common Stock Options Exercise +7.43K +2.79% 273K Feb 19, 2023 Direct F2, F3
transaction PDM Common Stock Tax liability -$35.9K -3.57K -1.31% $10.04 270K Feb 19, 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 -11.7K -6.67% $0.00 163K Feb 17, 2023 Common Stock 11.7K $0.00 Direct F1, F2
transaction PDM Restricted Stock Units Options Exercise $0 -7.43K -4.55% $0.00 156K Feb 19, 2023 Common Stock 7.43K $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 17, 2021, the reporting person was granted 46,647 restricted stock units, vesting in four equal, annual installments beginning on the grant date. On February 17, 2023, 25% of the grant vested (11,662 shares) and were settled in PDM common stock. In connection with this vesting, 5,610 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 19, 2020, the reporting person was granted 29,701 restricted stock units, vesting in four equal, annual installments beginning on the grant date. On February 19, 2023, the final 25% of the grant vested (7,425 shares) and were settled in PDM common stock. In connection with this vesting, 3,572 shares were forfeited by the employee and delivered to PDM to satisfy tax withholding obligations.