PDM.NYSEPiedmont Office Realty Trust, INC

Form 4: Piedmont Office Realty Trust EVP George M. Wells Reports Stock Vesting and Tax Withholding

Sentiment:

SEC Form 4 Filing

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

Summary

  • On February 10, 2025, George M. Wells, EVP and COO of Piedmont Office Realty Trust, had 3,338 restricted stock units vest as part of a grant from February 10, 2022.
  • These units represent the final 25% of the grant vesting in four equal annual installments.
  • Upon vesting, the shares were settled in PDM common stock.
  • To cover tax withholding obligations, 1,594 shares were forfeited and delivered to PDM.
  • Following these transactions, Wells directly owns 106,043 shares of PDM common stock and 103,935 restricted stock units.

Sentiment

Score: 5

Explanation: This is a routine filing related to executive compensation, with no particularly positive or negative implications.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders.

Stakeholder Impact

  • Shareholders may be interested in executive compensation details.
  • The vesting and subsequent tax withholding have a minor impact on the company's share count.

Key Dates

DateDescription
02/10/2022Reporting person was granted 13,353 restricted stock units, vesting in four equal, annual installments beginning on the grant date.
02/10/2025Final 25% of the grant vested (3,338 shares), and were settled in PDM common stock; 1,594 shares were forfeited by the employee and delivered to PDM to satisfy tax withholding obligations.
02/12/2025Date of signature for the Form 4 filing.

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