Form 4: Piedmont Office Realty Trust Director Durvasula Reports Stock Transactions
SEC Form 4
Director Venkatesh S. Durvasula reports stock transactions related to restricted stock units vesting at Piedmont Office Realty Trust.
Summary
- On May 7, 2025, Venkatesh S. Durvasula, a director of Piedmont Office Realty Trust, Inc. (PDM), reported transactions involving the company's common stock.
- Durvasula acquired 14,388 shares of common stock upon the vesting of restricted stock units.
- He also forfeited 4,172 shares to satisfy tax withholding obligations related to the vesting of these units at a price of $6.71.
- Following these transactions, Durvasula directly owns 26,251 shares of PDM common stock.
- The restricted stock units were granted on May 7, 2024, and vested on the anniversary of the grant date.
Sentiment
Score: 6
Explanation: The sentiment is neutral as the document simply reports routine stock transactions related to executive compensation. There are no indications of positive or negative performance implications.
Positives
- The vesting of restricted stock units indicates a form of compensation and alignment of interests between the director and the company's performance.
Future Outlook
The document does not contain any specific forward-looking statements or guidance.
Industry Context
Form 4 filings are routine disclosures required by the SEC to provide transparency into the transactions of company insiders. This filing indicates standard compensation practices for board members.
Comparison to Industry Standards
- Similar real estate investment trusts (REITs) such as Boston Properties (BXP) and Vornado Realty Trust (VNO) also utilize restricted stock units as part of their executive compensation packages.
- The vesting schedules and tax withholding practices are generally consistent with industry norms for executive compensation in publicly traded companies.
Stakeholder Impact
- The transactions have a minimal direct impact on stakeholders, as they represent standard executive compensation practices.
Key Dates
| Date | Description |
|---|---|
| 05/07/2024 | Reporting person was granted 14,388 restricted stock units at the 2024 Annual Meeting of Stockholders. |
| 05/07/2025 | Restricted stock units vested and were settled in PDM common stock; 4,172 shares were forfeited for tax obligations. |
| 05/08/2025 | Date of signature for the Form 4 filing. |
Keywords
Piedmont Office Realty Trust, PDM, Director, Stock Transactions, Form 4, Restricted Stock Units, Vesting, Durvasula
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