[Form 4] HIGHWOODS PROPERTIES, INC. Insider Trading Activity

Rhea-AI Filing Summary

Highwoods Properties, Inc. (HIW) director David J. Hartzell reduced his holdings by selling 4,300 shares of common stock on 09/17/2025 at a reported price of $32.10 per share, leaving him with 27,489 shares beneficially owned. The Form 4 was signed by an attorney-in-fact on 09/18/2025. No derivative transactions or additional remarks were reported.

Positive

• Form 4 was filed and clearly discloses the transaction details including date, price, and remaining beneficial ownership
• Sale recorded and signed (attorney-in-fact signature) indicating formal completion of required disclosure

Negative

• Director sold 4,300 shares, which could be interpreted negatively by some investors absent explanation
• No explanatory remarks or indication of a pre-established trading plan were provided to clarify the sale's context

Insights

Corporate Governance Expert

TL;DR: Routine director sale disclosed; no additional context provided to assess motives or governance impact.

The filing shows a straightforward non-derivative sale by a company director reducing his stake by 4,300 shares to 27,489 shares. The report was filed promptly and signed by an attorney-in-fact. Absent other disclosures (e.g., planned sale program or related-party context), this appears to be a routine insider transaction rather than a governance event.

Securities Analyst

TL;DR: Insider sale recorded; transaction size and timing provide limited market signal without further context.

The Form 4 reports a sale at $32.10 per share on 09/17/2025. The reduction to 27,489 shares is explicit, but the filing contains no information on reason, volume relative to total outstanding shares, or whether this was part of a scheduled plan. As a standalone disclosure, it offers limited actionable insight for valuation.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Hartzell David John

(Last) (First) (Middle)

150 FAYETTEVILLE STREET, SUITE 1400

(Street)

RALEIGH NC 27601

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
HIGHWOODS PROPERTIES, INC. [ HIW ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
09/17/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	09/17/2025	09/17/2025	S		4,300	D	$32.1	27,489	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

Remarks:

	/s/Jeffrey D. Miller Attorney in fact for David J. Hartzell	09/18/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What transaction did David J. Hartzell report on Form 4 for HIW?

He reported a sale of 4,300 shares of Highwoods Properties common stock on 09/17/2025 at a reported price of $32.10 per share.

How many HIW shares does the reporting person own after the transaction?

The filing shows 27,489 shares beneficially owned following the reported sale.

Were any derivative securities reported in this Form 4 for HIW?

No. The filing contains no derivative securities in Table II; only a non-derivative common stock sale is reported.

When was the Form 4 for HIW signed and filed?

The signature block shows the form was signed by an attorney-in-fact on 09/18/2025.

Does the filing state a reason for the sale or reference a trading plan?

No. The Form 4 contains no remarks or explanation