Alex Valente - Feb 17, 2023 Form 4 Insider Report for Piedmont Office Realty Trust, Inc. (PDM)

Role: EVP- Southeast Region
Signature: /s/ Laura P. Moon as Attorney-in-Fact for Alex Valente
Stock symbol: PDM
Transactions as of: Feb 17, 2023
Transactions value $: -$11,436
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		+1.82K	+5.54%		34.7K	Feb 17, 2023	Direct	F1, F2
transaction	PDM	Common Stock	Tax liability	-$7.89K	-786	-2.27%	$10.04	33.9K	Feb 17, 2023	Direct	F1
transaction	PDM	Common Stock	Options Exercise		+819	+2.42%		34.7K	Feb 19, 2023	Direct	F2, F3
transaction	PDM	Common Stock	Tax liability	-$3.54K	-353	-1.02%	$10.04	34.4K	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	-1.82K	-7.05%	$0.00	24K	Feb 17, 2023	Common Stock	1.82K	$0.00	Direct	F1, F2
transaction	PDM	Restricted Stock Units	Options Exercise	$0	-819	-3.41%	$0.00	23.2K	Feb 19, 2023	Common Stock	819	$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 7,289 restricted stock units, vesting in four equal, annual installments beginning on the grant date. On February 17, 2023, 25% of the grant vested (1,822 shares) and were settled in PDM common stock. In connection with this vesting, 786 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 3,277 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 (819 shares) and were settled in PDM common stock. In connection with this vesting, 353 shares were forfeited by the employee and delivered to PDM to satisfy tax withholding obligations.