George M. Wells - Feb 17, 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 17, 2023
Transactions value $
-$20,974
Form type
4
Date filed
2/21/2023, 03:41 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 +3.06K +3.44% 92K Feb 17, 2023 Direct F1, F2
transaction PDM Common Stock Tax liability -$14.8K -1.47K -1.6% $10.04 90.5K Feb 17, 2023 Direct F1
transaction PDM Common Stock Options Exercise +1.28K +1.41% 91.8K Feb 19, 2023 Direct F2, F3
transaction PDM Common Stock Tax liability -$6.18K -616 -0.67% $10.04 91.2K 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 -3.06K -10.06% $0.00 27.4K Feb 17, 2023 Common Stock 3.06K $0.00 Direct F1, F2
transaction PDM Restricted Stock Units Options Exercise $0 -1.28K -4.68% $0.00 26.1K Feb 19, 2023 Common Stock 1.28K $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 12,245 restricted stock units, vesting in four equal, annual installments beginning on the grant date. On February 17, 2023, 25% of the grant vested (3,061 shares) and were settled in PDM common stock. In connection with this vesting, 1,473 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 5,121 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 (1,280 shares) and were settled in PDM common stock. In connection with this vesting, 616 shares were forfeited by the employee and delivered to PDM to satisfy tax withholding obligations.