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Piedmont (NYSE: PDM) CEO reports stock awards and tax share forfeitures

Filing Impact
(Very High)
Filing Sentiment
(Negative)
Form Type
4

Rhea-AI Filing Summary

Piedmont Realty Trust President & CEO Christopher Brent Smith reported multiple equity compensation events on February 3, 2026. He received 296,313 shares of common stock granted without restriction under the 2023–2025 long-term incentive performance share plan, and 39,906 shares of common stock upon vesting and settlement of deferred stock units.

To satisfy tax withholding obligations tied to these vestings, he forfeited and delivered to the company 131,978 shares and 18,410 shares of common stock at $8.39 per share. After these transactions, he directly owned 626,323 shares of Piedmont common stock and held 380,703 restricted stock units.

Positive

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Insider Smith Christopher Brent
Role President & Chief Exec. Off
Type Security Shares Price Value
Exercise Restricted Stock Units 39,906 $0.00 --
Grant/Award Common Stock 296,313 $0.00 --
Tax Withholding Common Stock 131,978 $8.39 $1.11M
Exercise Common Stock 39,906 $0.00 --
Tax Withholding Common Stock 18,410 $8.39 $154K
Holdings After Transaction: Restricted Stock Units — 380,703 shares (Direct); Common Stock — 736,805 shares (Direct)
Footnotes (1)
  1. Such shares were granted without restriction pursuant to the performance share component of the 2023-2025 Long Term Incentive Compensation plan. In connection with the vesting of the unrestricted stock award (296,313 shares) pursuant to the performance share component of the 2023-2025 Long Term Incentive Compensation plan on February 3, 2026 (mentioned above), 131,978 shares were forfeited by the employee and delivered to the Company 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. On February 3, 2025, the reporting person was granted 159,624 deferred stock units, vesting in four equal, annual installments beginning on the anniversary of the grant date. On February 3, 2026, the initial 25% of the grant vested (39,906 shares) and were settled in PDM common stock. In connection with this vesting, 18,410 shares were forfeited by the employee and delivered to PDM to satisfy tax withholding obligations.
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
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*
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)
02/03/2026
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 02/03/2026 A 296,313(1) A $0 736,805 D
Common Stock 02/03/2026 F 131,978(2) D $8.39 604,827 D
Common Stock 02/03/2026 M 39,906 A (3)(4) 644,733 D
Common Stock 02/03/2026 F 18,410(4) D $8.39 626,323 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(3) 02/03/2026 M 39,906 (4) (4) Common Stock 39,906 $0 380,703 D
Explanation of Responses:
1. Such shares were granted without restriction pursuant to the performance share component of the 2023-2025 Long Term Incentive Compensation plan.
2. In connection with the vesting of the unrestricted stock award (296,313 shares) pursuant to the performance share component of the 2023-2025 Long Term Incentive Compensation plan on February 3, 2026 (mentioned above), 131,978 shares were forfeited by the employee and delivered to the Company to satisfy tax withholding obligations.
3. 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.
4. On February 3, 2025, the reporting person was granted 159,624 deferred stock units, vesting in four equal, annual installments beginning on the anniversary of the grant date. On February 3, 2026, the initial 25% of the grant vested (39,906 shares) and were settled in PDM common stock. In connection with this vesting, 18,410 shares were forfeited by the employee and delivered to PDM to satisfy tax withholding obligations.
Remarks:
/s/ M. Wade Grace III as Attorney-in-Fact for Christopher Brent Smith 02/05/2026
** 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).
** 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.

Source: View Original Filing on SEC EDGAR

FAQ

What did PDM CEO Christopher Brent Smith report in this Form 4?

He reported equity compensation activity including new share grants, vesting of deferred stock units, and share forfeitures for taxes. The filing details how many Piedmont Realty Trust (PDM) shares he received, surrendered, and held after these February 3, 2026 transactions.

How many PDM shares did the CEO receive from performance shares?

He received 296,313 shares of Piedmont common stock without restriction from the performance share component of the 2023–2025 long-term incentive plan. This award reflects earned performance shares converting into unrestricted stock on February 3, 2026, increasing his direct common share holdings.

What happened to the CEO’s deferred stock units at Piedmont (PDM)?

On February 3, 2026, 39,906 deferred stock units vested and were settled in Piedmont common stock. These units were part of a 159,624-unit grant from February 3, 2025 that vests in four equal annual installments, with 25% vesting in this reported transaction.

Why were some PDM shares forfeited by the CEO in this filing?

131,978 shares from the performance share award and 18,410 shares from the deferred stock unit vesting were forfeited and delivered to Piedmont. These forfeitures were used solely to satisfy tax withholding obligations associated with the vesting and settlement of the stock-based awards.

What are deferred stock units in the PDM CEO’s compensation?

Each deferred stock unit represents a contingent right to receive one share of Piedmont common stock. According to the filing, these units may be settled in either cash or common stock at Piedmont’s election when vesting and settlement conditions are met.

How many PDM shares and units does the CEO hold after these transactions?

After the reported February 3, 2026 transactions, Christopher Brent Smith directly owned 626,323 shares of Piedmont common stock. He also beneficially owned 380,703 restricted stock units, providing additional contingent exposure to future Piedmont share settlements under company equity plans.