Christopher Brent Smith - Feb 20, 2025 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 20, 2025
Transactions value $
-$294,211
Form type
4
Date filed
2/24/2025, 04:32 PM
Previous filing
Feb 18, 2025
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 +51.9K +13.69% 431K Feb 20, 2025 Direct F1, F2
transaction PDM Common Stock Tax liability -$180K -24.8K -5.75% $7.27 406K Feb 20, 2025 Direct F1
transaction PDM Common Stock Options Exercise +33.8K +8.32% 440K Feb 23, 2025 Direct F2, F3
transaction PDM Common Stock Tax liability -$114K -16.1K -3.67% $7.07 424K Feb 23, 2025 Direct F3

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 -51.9K -10.25% $0.00 454K Feb 20, 2025 Common Stock 51.9K $0.00 Direct F1, F2
transaction PDM Restricted Stock Units Options Exercise $0 -33.8K -7.44% $0.00 421K Feb 23, 2025 Common Stock 33.8K $0.00 Direct F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 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. On February 20, 2025, the initial 25% of the grant vested (51,908 shares) and were settled in PDM common stock. In connection with this vesting, 24,781 shares were forfeited by the employee and delivered to PDM to satisfy tax withholding obligations.
F2 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.
F3 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, 2025, the second 25% of the grant vested (33,791 shares) and were settled in PDM common stock. In connection with this vesting, 16,132 shares were forfeited by the employee and delivered to PDM to satisfy tax withholding obligations.