Venkatesh S. Durvasula - 10 May 2023 Form 4 Insider Report for Piedmont Office Realty Trust, Inc. (PDM)

Role
Director
Signature
/s/ Laura P. Moon, as Attorney-in-Fact for Venkatesh S. Durvasula
Issuer symbol
PDM
Transactions as of
10 May 2023
Net transactions value
-$14,027
Form type
4
Filing time
12 May 2023, 16:37:31 UTC
Previous filing
26 Oct 2022
Next filing
08 May 2024
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 +7,363 7,363 10 May 2023 Direct F1, F2
transaction PDM Common Stock Tax liability $14,027 -2,135 -29% $6.57 5,228 10 May 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 -7,363 -100% $0.000000* 0 10 May 2023 Common Stock 7,363 $0.000000 Direct F1, F2
transaction PDM Restricted Stock Units Award $0 +15,220 $0.000000 15,220 10 May 2023 Common Stock 15,220 $0.000000 Direct F1, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 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.
F2 On October 25, 2022, the reporting person was granted 7,363 restricted stock units, which vested at the 2023 Annual Meeting of Stockholders of Piedmont Office Realty Trust, Inc. on May 10, 2023, and were settled in PDM common stock.
F3 In connection with the vesting of 7,363 shares of deferred stock on May 10, 2023, 2,135 shares were forfeited by the reporting person and delivered to the Company to satisfy tax withholding obligations.
F4 On May 10, 2023, at the 2023 Annual Meeting of Stockholders of Piedmont Office Realty Trust, Inc., the reporting person was granted 15,220 restricted stock units, which will vest on the earlier of the 2024 Annual Meeting of Stockholders, or the anniversary of the grant date in May 2024.