Christopher Brent Smith - Feb 23, 2024 Form 4 Insider Report for Piedmont Office Realty Trust, Inc. (PDM)

Signature
/s/ Laura P. Moon as Attorney-in-Fact for Christopher Brent Smith
Stock symbol
PDM
Transactions as of
Feb 23, 2024
Transactions value $
-$99,800
Form type
4
Date filed
2/27/2024, 04:34 PM
Previous filing
Feb 21, 2024
Next filing
Jul 2, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PDM Common Stock Options Exercise +33.8K +11.07% 339K Feb 23, 2024 Direct F1, F2
transaction PDM Common Stock Tax liability -$99.8K -16.3K -4.79% $6.14 323K Feb 23, 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 -33.8K -7.79% $0.00 400K Feb 23, 2024 Common Stock 33.8K $0.00 Direct F1, F2
* 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 23, 2023, the reporting person was granted 135,164 restricted stock units, vesting in four equal, annual installments beginning on the anniversary of the grant date. On February 23, 2024, the initial 25% of the grant vested (33,791 shares) and were settled in PDM common stock. In connection with this vesting, 16,254 shares were forfeited by the employee and delivered to PDM to satisfy tax withholding obligations.