Piedmont Realty Trust (PDM) EVP Wells converts RSUs, withholds shares for tax

Rhea-AI Filing Summary

Piedmont Realty Trust EVP and Co-COO George M. Wells reported equity compensation activity involving deferred stock units and common shares. On February 20, 2026, he exercised 10,496 restricted/deferred stock units, which were settled into the same number of PDM common shares at no cash exercise price.

In connection with this vesting, 4,675 common shares were withheld and delivered back to Piedmont Realty Trust at $7.98 per share to satisfy tax withholding obligations, a tax-related disposition rather than an open-market sale. After these transactions, Wells directly owned 155,704 shares of common stock and 94,545 deferred/restricted stock units, reflecting ongoing alignment of his compensation with company equity.

Insider Trade Summary

10,496 shares exercised/converted

Mixed 3 txns

Insider Wells George M.

Role EVP- Co-COO

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Units	10,496	$0.00	--
Exercise	Common Stock	10,496	$0.00	--
Tax Withholding	Common Stock	4,675	$7.98	$37K

Holdings After Transaction: Restricted Stock Units — 94,545 shares (Direct); Common Stock — 160,379 shares (Direct)

Footnotes (1)

1. On February 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. On February 20, 2026, the second 25% of the grant vested (10,496 shares) and were settled in PDM common stock. In connection with this vesting, 4,675 shares were forfeited by the employee and delivered to PDM to satisfy tax withholding obligations. Each deferred stock unit represents a contingent right to receive one share of PDM common stock. Deferred stock units may be settled in cash or common stock at PDM's election.

Form 4 Insider Transactions: What Each Field Means →

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).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Wells George M.

(Last) (First) (Middle)

5565 GLENRIDGE CONNECTOR

STE 450

(Street)

ATLANTA GA 30342

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Piedmont Realty Trust, Inc. [ PDM ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP- Co-COO

3. Date of Earliest Transaction (Month/Day/Year)
02/20/2026

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	02/20/2026		M		10,496	A	(1)(2)	160,379	D
Common Stock	02/20/2026		F		4,675(1)	D	$7.98	155,704	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
Restricted Stock Units	$0(2)	02/20/2026		M			10,496	(1)	(1)	Common Stock	10,496	$0	94,545	D

Explanation of Responses:

1. On February 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. On February 20, 2026, the second 25% of the grant vested (10,496 shares) and were settled in PDM common stock. In connection with this vesting, 4,675 shares were forfeited by the employee and delivered to PDM to satisfy tax withholding obligations.

2. Each deferred stock unit represents a contingent right to receive one share of PDM common stock. Deferred stock units may be settled in cash or common stock at PDM's election.

Remarks:

	/s/ M. Wade Grace III as Attorney-in-Fact for George M. Wells	02/23/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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