Form 4: Kelly Hefner Barrett Acquires 15,217 Restricted Stock Units in Piedmont Office Realty Trust

Director Kelly Hefner Barrett received 15,217 restricted stock units in Piedmont Office Realty Trust (PDM) on May 15, 2025, which will vest on the earlier of the 2026 Annual Meeting of Stockholders or the anniversary of the grant date in May 2026.

Summary

• On May 15, 2025, Kelly Hefner Barrett, a director of Piedmont Office Realty Trust, Inc. (PDM), was granted 15,217 restricted stock units.
• These restricted stock units represent a contingent right to receive one share of PDM common stock each.
• The restricted stock units may be settled in cash or common stock at PDM's election.
• The units will vest on the earlier of the 2026 Annual Meeting of Stockholders or the anniversary of the grant date in May 2026.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive. The grant of restricted stock units is a standard practice and aligns the director's interests with shareholders. There are no immediate negative implications.

Positives

• The grant of restricted stock units aligns the director's interests with those of the shareholders.
• The vesting schedule encourages long-term commitment to the company.

Future Outlook

The restricted stock units will vest on the earlier of the 2026 Annual Meeting of Stockholders or the anniversary of the grant date in May 2026.

Industry Context

Grants of restricted stock units are a common practice for aligning the interests of company directors with those of shareholders in the real estate investment trust (REIT) industry.

Comparison to Industry Standards

• Comparing Piedmont Office Realty Trust's executive compensation practices with those of similar REITs such as Boston Properties (BXP) or Kilroy Realty (KRC) would provide a benchmark for assessing the size and structure of the equity grants.
• These companies often use a mix of salary, bonus, and equity-based compensation to incentivize their executives.
• The vesting schedules are also typically structured to encourage long-term value creation.

Stakeholder Impact

• Shareholders: Aligns director's interests with shareholder value.
• Employees: May boost morale knowing leadership is invested in the company's future.

Key Dates

Keywords

Restricted Stock Units, Piedmont Office Realty Trust, Director, PDM, Equity, Form 4, Beneficial Ownership