Form 4: Piedmont Office Realty Trust EVP-COO George M. Wells Reports Stock Transactions
SEC Form 4
EVP-COO of Piedmont Office Realty Trust, George M. Wells, reports the vesting and settlement of restricted stock units, along with associated tax withholding.
Summary
- On February 20, 2025, George M. Wells, EVP-COO of Piedmont Office Realty Trust, had 10,496 deferred stock units vest and settle into PDM common stock.
- In connection with this vesting, 5,011 shares were forfeited to satisfy tax withholding obligations at a price of $7.27.
- On February 23, 2025, 5,280 restricted stock units vested and were settled in PDM common stock.
- 2,521 shares were forfeited to cover tax obligations at a price of $7.07.
- Following these transactions, Wells directly owns 117,135 shares of common stock and 82,709 restricted stock units.
Sentiment
Score: 5
Explanation: This is a routine transaction report, so the sentiment is neutral.
Industry Context
This Form 4 filing is a routine disclosure related to executive compensation and stock-based awards, common in publicly traded companies.
Stakeholder Impact
- The vesting of stock options and restricted stock units can have a minor dilutive effect on existing shareholders.
Key Dates
| Date | Description |
|---|---|
| 02/23/2023 | Reporting person was granted 21,119 restricted stock units, vesting in four equal, annual installments beginning on the anniversary of the grant date. |
| 02/20/2024 | The reporting person was granted 41,985 deferred stock units, vesting in four equal, annual installments beginning on the anniversary of the grant date. |
| 02/20/2025 | Initial 25% of the 41,985 deferred stock units vested (10,496 shares) and were settled in PDM common stock. |
| 02/20/2025 | 5,011 shares were forfeited by the employee and delivered to PDM to satisfy tax withholding obligations. |
| 02/23/2025 | Second 25% of the 21,119 restricted stock units vested (5,280 shares) and were settled in PDM common stock. |
| 02/23/2025 | 2,521 shares were forfeited by the employee and delivered to PDM to satisfy tax withholding obligations. |
| 02/24/2025 | Date of signature for the Form 4 filing. |
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