Form 4: Piedmont Office Realty Trust EVP-CFO Robert Bowers Reports Stock Transactions
SEC Form 4 Filing
Robert Bowers, EVP-CFO of Piedmont Office Realty Trust, reports the vesting and settlement of restricted stock units, along with associated tax withholding.
Summary
- On February 23, 2024, Robert Bowers, the EVP-CFO of Piedmont Office Realty Trust, had 9,821 restricted stock units vest and settle into common stock.
- These units were part of a grant of 39,282 restricted stock units from February 23, 2023, which vest in four equal annual installments.
- In connection with the vesting, 4,724 shares were forfeited to cover tax withholding obligations at a price of $6.14 per share.
- Following these transactions, Bowers directly owns 362,402 shares of Piedmont Office Realty Trust common stock and 120,370 restricted stock units.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions, with neutral sentiment.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies.
Stakeholder Impact
- The vesting of stock units and subsequent tax withholding may have a minor dilutive effect on existing shareholders.
Key Dates
| Date | Description |
|---|---|
| 02/23/2023 | Date of original grant of 39,282 restricted stock units, vesting in four equal annual installments. |
| 02/23/2024 | Date of transaction: vesting of 9,821 restricted stock units and forfeiture of 4,724 shares for tax withholding. |
| 02/27/2024 | Date of Form 4 filing. |
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