Robert E. Bowers - Feb 23, 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
Stock symbol: PDM
Transactions as of: Feb 23, 2024
Transactions value $: -$29,005
Form type: 4
Date filed: 2/27/2024, 04:34 PM
Previous filing: Feb 21, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	PDM	Common Stock	Options Exercise		+9.82K	+2.75%		367K	Feb 23, 2024	Direct	F1, F2
transaction	PDM	Common Stock	Tax liability	-$29K	-4.72K	-1.29%	$6.14	362K	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	-9.82K	-7.54%	$0.00	120K	Feb 23, 2024	Common Stock	9.82K	$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 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.