Christopher Brent Smith - 17 Feb 2024 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
Issuer symbol
PDM
Transactions as of
17 Feb 2024
Net transactions value
-$37,973
Form type
4
Filing time
21 Feb 2024, 16:20:37 UTC
Previous filing
14 Feb 2024
Next filing
27 Feb 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 +11,661 +3.9% 310,854 17 Feb 2024 Direct F1, F2
transaction PDM Common Stock Tax liability $37,973 -5,609 -1.8% $6.77 305,245 17 Feb 2024 Direct F2

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 -11,661 -4.9% $0.000000 226,097 17 Feb 2024 Common Stock 11,661 $0.000000 Direct F1, F2
transaction PDM Restricted Stock Units Award $0 +207,634 +92% $0.000000 433,731 20 Feb 2024 Common Stock 207,634 $0.000000 Direct F1, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each deferred stock unit represents a contingent right to receive one share of PDM common stock. Deferred stock units may be settled in cash or common stock at PDM's election.
F2 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, 2024, the final 25% of the grant vested (11,661 shares) and were settled in PDM common stock. In connection with this vesting, 5,609 shares were forfeited by the employee and delivered to PDM to satisfy tax withholding obligations.
F3 On February 20, 2024, the reporting person was granted 207,634 deferred stock units, vesting in four equal, annual installments beginning on the anniversary of the grant date.