Christopher Brent Smith - Feb 17, 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
Stock symbol: PDM
Transactions as of: Feb 17, 2024
Transactions value $: -$37,973
Form type: 4
Date filed: 2/21/2024, 04:20 PM
Previous filing: Feb 14, 2024
Next filing: Feb 27, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	PDM	Common Stock	Options Exercise		+11.7K	+3.9%		311K	Feb 17, 2024	Direct	F1, F2
transaction	PDM	Common Stock	Tax liability	-$38K	-5.61K	-1.8%	$6.77	305K	Feb 17, 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	-11.7K	-4.9%	$0.00	226K	Feb 17, 2024	Common Stock	11.7K	$0.00	Direct	F1, F2
transaction	PDM	Restricted Stock Units	Award	$0	+208K	+91.83%	$0.00	434K	Feb 20, 2024	Common Stock	208K	$0.00	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.