Form 4: Piedmont Office Realty Trust EVP George M. Wells Reports Stock Transactions

EVP and COO of Piedmont Office Realty Trust, George M. Wells, reports the vesting of restricted stock units and subsequent tax withholding.

Summary

• On February 13, 2025, George M. Wells, EVP and COO of Piedmont Office Realty Trust, had 5,450 restricted stock units vest.
• These units were part of a grant of 21,801 restricted stock units from February 13, 2023, which vest in four equal annual installments.
• Upon vesting, 5,450 shares of PDM common stock were issued.
• To cover tax obligations related to the vesting, 2,602 shares were forfeited at a price of $7.96 per share.
• Following these transactions, Wells directly owns 108,891 shares of common stock and 98,485 restricted stock units.

Sentiment

Score: 5

Explanation: The document is a routine disclosure of stock transactions by a company executive, with no inherent positive or negative sentiment.

Industry Context

Form 4 filings are standard practice for reporting transactions by company insiders, providing transparency to investors.

Stakeholder Impact

• The transaction provides transparency to shareholders regarding executive compensation and stock ownership.
• The forfeiture of shares to cover tax obligations has no material impact on other stakeholders.

Key Dates

Keywords

Piedmont Office Realty Trust, George M. Wells, restricted stock units, Form 4, vesting, tax withholding, PDM, common stock