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Piedmont Realty Trust (PDM) director adds 15,217 shares and receives 12,883 RSUs

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Piedmont Realty Trust director Barrett Kelly Hefner reported equity compensation changes involving common stock and restricted stock units. On May 12, 2026, Hefner exercised 15,217 restricted stock units into 15,217 shares of common stock, increasing direct common stock holdings to 97,426 shares.

On the same date, Hefner received a new grant of 12,883 restricted stock units, each representing a contingent right to one share of common stock. These units will vest at the earlier of the 2027 Annual Meeting of Stockholders or the anniversary of the grant date in May 2027.

Positive

  • None.

Negative

  • None.
Insider BARRETT KELLY HEFNER
Role null
Type Security Shares Price Value
Exercise Restricted Stock Units 15,217 $0.00 --
Grant/Award Restricted Stock Units 12,883 $0.00 --
Exercise Common Stock 15,217 $0.00 --
Holdings After Transaction: Restricted Stock Units — 0 shares (Direct, null); Common Stock — 97,426 shares (Direct, null)
Footnotes (1)
  1. Each restricted stock unit represents a contingent right to receive one share of PDM common stock. Restricted stock units may be settled in cash or common stock at PDM's election. On May 15, 2025, at the 2025 Annual Meeting of Stockholders of Piedmont Realty Trust, Inc., the reporting person was granted 15,217 restricted stock units, which vested at the 2026 Annual Meeting of Stockholders on May 12, 2026, and was settled in PDM common stock. On May 12, 2026, at the 2026 Annual Meeting of Stockholders of Piedmont Realty Trust, Inc., the reporting person was granted 12,883 restricted stock units, which will vest on the earlier of the 2027 Annual Meeting of Stockholders, or the anniversary of the grant date in May 2027.
RSUs exercised into shares 15,217 shares Restricted stock units converted to common stock on May 12, 2026
New RSU grant 12,883 units Restricted stock units granted on May 12, 2026
Common shares after transactions 97,426 shares Direct common stock holdings following Form 4 transactions
RSU-to-share ratio 1 unit = 1 share Each restricted stock unit represents one PDM common share
Exercise events 1 exercise, 15,217 units Derivative exercise/conversion count and shares in transaction summary
Restricted Stock Units financial
"Each restricted stock unit represents a contingent right to receive one share of PDM common stock."
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
derivative security financial
"transaction_code_description: Exercise or conversion of derivative security"
A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.
Annual Meeting of Stockholders financial
"vested at the 2026 Annual Meeting of Stockholders on May 12, 2026"
grant, award, or other acquisition financial
"transaction_code_description: Grant, award, or other acquisition"
Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED 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
Estimated average burden
hours per response:0.5
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*
BARRETT KELLY HEFNER
(Last)(First)(Middle)
5565 GLENRIDGE CONNECTOR
STE. 450
(Street)
ATLANTA GEORGIA 30342
(City)(State)(Zip)
UNITED STATES
(Country)		2. Issuer Name and Ticker or Trading Symbol
Piedmont Realty Trust, Inc. [ PDM ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
XDirector10% Owner
Officer (give title below)Other (specify below)
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
05/12/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm filed by One Reporting Person
Form filed by More than One Reporting Person
4. If Amendment, Date of Original Filed (Month/Day/Year)

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)
CodeVAmount(A) or (D)Price
Common Stock05/12/2026M15,217A(1)(2)97,426D
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Restricted Stock Units$0(1)05/12/2026M15,217 (2) (2)Common Stock15,217$00D
Restricted Stock Units$0(1)05/12/2026A12,883 (3) (3)Common Stock12,883$012,883D
Explanation of Responses:
1. Each restricted stock unit represents a contingent right to receive one share of PDM common stock. Restricted stock units may be settled in cash or common stock at PDM's election.
2. On May 15, 2025, at the 2025 Annual Meeting of Stockholders of Piedmont Realty Trust, Inc., the reporting person was granted 15,217 restricted stock units, which vested at the 2026 Annual Meeting of Stockholders on May 12, 2026, and was settled in PDM common stock.
3. On May 12, 2026, at the 2026 Annual Meeting of Stockholders of Piedmont Realty Trust, Inc., the reporting person was granted 12,883 restricted stock units, which will vest on the earlier of the 2027 Annual Meeting of Stockholders, or the anniversary of the grant date in May 2027.
Remarks:
/s/ M. Wade Grace III as Attorney-in-Fact for Kelly H. Barrett05/13/2026
** Signature of Reporting PersonDate
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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transactions did PDM director Barrett Kelly Hefner report?

Barrett Kelly Hefner reported exercising 15,217 restricted stock units into common shares and receiving a new grant of 12,883 restricted stock units. These actions are compensation-related equity movements, not open-market stock purchases or sales.

How many Piedmont Realty Trust (PDM) shares does Barrett Kelly Hefner hold after the Form 4?

After the reported transactions, Barrett Kelly Hefner directly holds 97,426 shares of Piedmont Realty Trust common stock. This figure reflects the exercise of 15,217 restricted stock units into shares on May 12, 2026.

What are the terms of Barrett Kelly Hefner’s new restricted stock unit grant at PDM?

Hefner received 12,883 restricted stock units, each tied to one share of PDM common stock. These units vest on the earlier of the 2027 Annual Meeting of Stockholders or the anniversary of the May 12, 2026 grant date.

Were Barrett Kelly Hefner’s PDM transactions open-market trades?

No, the reported transactions were not open-market trades. They involved the exercise of 15,217 previously granted restricted stock units into common shares and a new compensation grant of 12,883 restricted stock units, all at a stated price of $0.00 per unit.

What does a restricted stock unit mean for Piedmont Realty Trust (PDM) shareholders?

A restricted stock unit represents a contingent right to receive one PDM common share. For Hefner’s awards, Piedmont Realty Trust may settle them in cash or common stock, and they typically vest based on continued service and meeting specified time conditions.