Robert E. Bowers - 23 Feb 2024 Form 4 Insider Report for Piedmont Office Realty Trust, Inc. (PDM)

Role: EVP-CFO
Signature: /s/ Laura P. Moon as Attorney-in-Fact for Robert E. Bowers
Issuer symbol: PDM
Transactions as of: 23 Feb 2024
Net transactions value: -$29,005
Form type: 4
Filing time: 27 Feb 2024, 16:34:33 UTC
Previous filing: 21 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		+9,821	+2.7%		367,126	23 Feb 2024	Direct	F1, F2
transaction	PDM	Common Stock	Tax liability	$29,005	-4,724	-1.3%	$6.14	362,402	23 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	-9,821	-7.5%	$0.000000	120,370	23 Feb 2024	Common Stock	9,821	$0.000000	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 39,282 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 (9,821 shares) and were settled in PDM common stock. In connection with this vesting, 4,724 shares were forfeited by the employee and delivered to PDM to satisfy tax withholding obligations.

Content

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.

On February 23, 2023, the reporting person was granted 39,282 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 (9,821 shares) and were settled in PDM common stock. In connection with this vesting, 4,724 shares were forfeited by the employee and delivered to PDM to satisfy tax withholding obligations.