Piedmont Realty CEO RSUs vest into 51,909 shares

Piedmont Realty Trust President and CEO Christopher Brent Smith reported equity award activity involving deferred stock units and common shares.

Rhea-AI Filing Summary

Piedmont Realty Trust President and CEO Christopher Brent Smith reported equity award activity involving deferred stock units and common shares. On February 20, 2026, he acquired 51,909 restricted stock units through an exercise or conversion of derivative securities, which were settled into 51,909 shares of PDM common stock at no cash cost.

In connection with this vesting, 23,121 common shares were disposed of at $7.98 per share to satisfy tax withholding obligations, with the shares delivered back to Piedmont Realty Trust. These transactions reflect scheduled vesting of a 207,634-unit deferred stock award granted on February 20, 2024, vesting in four equal annual installments.

Insider Trade Summary

51,909 shares exercised/converted

Exercise 3 txns

Insider Smith Christopher Brent

Role President & Chief Exec. Off

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Units	51,909	$0.00	$0.00
Exercise	Common Stock	51,909	$0.00	$0.00
Exercise Price or Tax Liability	Common Stock	23,121	$7.98	$185K

Holdings After Transaction: Restricted Stock Units — 456,971 contracts (Direct); Common Stock — 676,006 shares (Direct)

Footnotes (2)

1. F1. On February 20, 2024, the reporting person was granted 207,634 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 (51,909 shares) and were settled in PDM common stock. In connection with this vesting, 23,121 shares were forfeited by the employee and delivered to PDM to satisfy tax withholding obligations.
2. F2. 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.

FAQ

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What insider transactions did PDM President and CEO Christopher Brent Smith report on February 20, 2026?

Christopher Brent Smith reported vesting and settlement of 51,909 deferred stock units into PDM common stock, plus a related tax-withholding share disposition. The activity reflects scheduled vesting from a prior equity grant rather than open-market buying or selling of shares.

How many Piedmont Realty Trust (PDM) deferred stock units vested for the CEO in this Form 4?

The Form 4 shows 51,909 deferred stock units vesting and being settled in PDM common stock for the CEO. This represents the second 25% installment of a 207,634-unit award granted on February 20, 2024, which vests in four equal annual installments.

Why were 23,121 shares of Piedmont Realty Trust (PDM) common stock disposed of in this filing?

The filing states 23,121 PDM common shares were forfeited and delivered to the company to satisfy tax withholding obligations. This tax-withholding disposition is coded as an “F” transaction and is tied directly to the vesting of the CEO’s deferred stock units.

What does transaction code “M” mean in the PDM CEO’s Form 4 insider filing?

Transaction code “M” indicates an exercise or conversion of a derivative security into common stock. Here, it shows deferred stock units converting into 51,909 shares of PDM common stock on February 20, 2026, as part of the scheduled equity award vesting.

How is the 207,634-unit deferred stock award for Piedmont Realty Trust’s CEO structured?

The CEO received 207,634 deferred stock units on February 20, 2024, vesting in four equal annual installments. Each unit represents a contingent right to receive one PDM common share, and units may be settled in cash or common stock at the company’s election upon vesting.

Does the PDM CEO’s Form 4 reflect open-market purchases or sales of common stock?

The Form 4 reflects equity award vesting and related tax withholding, not open-market trading. Shares were acquired through conversion of deferred stock units and some were forfeited back to Piedmont Realty Trust to cover tax obligations, rather than bought or sold on the open market.

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Accepted by SEC EDGAR 02/23/2026 - 04:56 PM Learn about SEC filing dates

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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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^*

Smith Christopher Brent

(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)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	President & Chief Exec. Off

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		51,909	A	(1)(2)	699,127	D
Common Stock	02/20/2026		F		23,121(1)	D	$7.98	676,006	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			51,909	(1)	(1)	Common Stock	51,909	$0	456,971	D

Explanation of Responses:

1. On February 20, 2024, the reporting person was granted 207,634 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 (51,909 shares) and were settled in PDM common stock. In connection with this vesting, 23,121 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 Christopher Brent Smith	02/23/2026
	** 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).
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