Form 4: Piedmont Office Realty Trust Director, Venkatesh S. Durvasula, Reports Stock Transactions

Director Venkatesh S. Durvasula reports the vesting and settlement of restricted stock units and the grant of additional units at Piedmont Office Realty Trust's annual meeting.

Summary

• On May 7, 2024, Venkatesh S. Durvasula, a director of Piedmont Office Realty Trust, Inc. (PDM), reported transactions involving the company's common stock.
• 15,220 restricted stock units, granted on May 10, 2023, vested at the 2024 Annual Meeting of Stockholders and were settled in PDM common stock.
• 4,413 shares were forfeited to cover tax withholding obligations related to the vesting of the restricted stock units.
• Durvasula was granted 14,388 additional restricted stock units, which will vest on the earlier of the 2025 Annual Meeting or the anniversary of the grant date in May 2025.
• Following these transactions, Durvasula directly owns 16,035 shares of PDM common stock and 14,388 restricted stock units.

Sentiment

Score: 5

Explanation: The document reflects standard insider trading activity related to compensation. It is neutral in sentiment.

Future Outlook

The newly granted restricted stock units will vest in May 2025, contingent on continued service.

Industry Context

This filing is a routine disclosure of stock transactions by a company insider, which is common for publicly traded companies. It provides transparency into the holdings and transactions of key personnel.

Stakeholder Impact

• The transactions have a minor impact on shareholders as they reflect standard compensation practices for directors.

Key Dates