Form 4: Piedmont Office Realty Trust Executive Forfeits Shares to Cover Tax Obligations
SEC Form 4 Filing
Christopher Brent Smith, President & CEO of Piedmont Office Realty Trust, forfeited 4,548 shares to cover tax obligations related to the vesting of deferred stock.
Summary
- On July 1, 2024, Christopher Brent Smith, President & CEO of Piedmont Office Realty Trust, forfeited 4,548 shares of common stock.
- The shares were forfeited to satisfy tax withholding obligations related to the vesting of 9,505 shares of deferred stock.
- These 9,505 shares represented 20% of an initial grant made on May 3, 2019.
- Following the transaction, Smith directly owns 318,234 shares of Piedmont Office Realty Trust.
- The price per share for the transaction was $7.12.
Sentiment
Score: 5
Explanation: This is a routine transaction related to executive compensation and tax obligations, with no inherent positive or negative implications for the company's overall performance.
Industry Context
Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.
Key Dates
| Date | Description |
|---|---|
| May 3, 2019 | Initial grant date of deferred stock, 20% of which vested on July 1, 2024 |
| July 1, 2024 | Date of transaction: vesting of deferred stock and forfeiture of shares for tax obligations |
| July 2, 2024 | Date of signature on the Form 4 filing |
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