Piedmont Realty Trust (PDM) director reports RSU vesting, tax withholding and new award

Rhea-AI Filing Summary

Piedmont Realty Trust director Jeffrey Donnelly reported compensation-related equity activity tied to restricted stock units (RSUs). On May 12, 2026, 15,217 previously granted RSUs vested and were settled into the same number of shares of common stock. In connection with this vesting, 3,348 shares were forfeited and delivered back to the company to satisfy tax withholding obligations, leaving Donnelly with 13,672 shares of common stock held directly after these transactions.

On the same date, Donnelly received a new grant of 12,883 RSUs, each representing a contingent right to one share of Piedmont Realty Trust common stock. These RSUs will vest on the earlier of the 2027 Annual Meeting of Stockholders or the anniversary of the grant date in May 2027, continuing his equity-based compensation alignment with shareholders.

Insights

Equity Compensation Analyst

Routine RSU vesting, tax withholding, and new grant; net neutral signal.

The filing shows Jeffrey Donnelly converting 15,217 RSUs into common stock, with 3,348 shares delivered back to Piedmont Realty Trust, Inc. for tax withholding. This is a standard equity compensation event rather than an open-market trade.

He ends with 13,672 common shares directly held and receives a new award of 12,883 RSUs that vest around the 2027 Annual Meeting. Because there are no open-market purchases or sales, the activity mainly reflects ongoing board compensation and does not, by itself, change the investment thesis.

Insider Trade Summary

15,217 shares exercised/converted

Mixed 4 txns

Insider Donnelly Jeffrey

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	--
Tax Withholding	Common Stock	3,348	$8.15	$27K

Holdings After Transaction: Restricted Stock Units — 0 shares (Direct, null); Common Stock — 17,020 shares (Direct, null)

Footnotes (1)

1. Each restricted stock unit represents a contingent right to receive one share of PDM common stock. 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. In connection with the vesting of 15,217 shares of deferred stock on May 12, 2026, 3,348 shares were forfeited by the reporting person and delivered to the Company to satisfy tax withholding obligations. 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.

Key Figures

RSUs vested: 15,217 shares Shares for tax withholding: 3,348 shares Common shares held: 13,672 shares +2 more

5 metrics

RSUs vested 15,217 shares RSUs vested and settled into common stock on May 12, 2026

Shares for tax withholding 3,348 shares Forfeited to satisfy tax obligations on May 12, 2026

Common shares held 13,672 shares Direct common stock holdings after transactions

New RSU grant 12,883 units RSUs granted on May 12, 2026, vesting by 2027 meeting

Transaction price for tax shares $8.15 per share Price used for 3,348 shares delivered for tax withholding

Key Terms

Restricted Stock Units, Annual Meeting of Stockholders, tax withholding obligations, deferred stock

4 terms

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.

Annual Meeting of Stockholders financial

"vested at the 2026 Annual Meeting of Stockholders on May 12, 2026"

tax withholding obligations financial

"3,348 shares were forfeited by the reporting person and delivered to the Company to satisfy tax withholding obligations."

deferred stock financial

"In connection with the vesting of 15,217 shares of deferred stock on May 12, 2026"

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^*

Donnelly Jeffrey

(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)

X	Director		10% 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)

X	Form 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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	05/12/2026		M		15,217	A	(1)(2)	17,020	D
Common Stock	05/12/2026		F		3,348(3)	D	$8.15	13,672	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	(1)	05/12/2026		M			15,217	(2)	(2)	Common Stock	15,217	$0	0	D
Restricted Stock Units	(1)	05/12/2026		A		12,883		(4)	(4)	Common Stock	12,883	$0	12,883	D

Explanation of Responses:

1. Each restricted stock unit represents a contingent right to receive one share of PDM common stock.

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. In connection with the vesting of 15,217 shares of deferred stock on May 12, 2026, 3,348 shares were forfeited by the reporting person and delivered to the Company to satisfy tax withholding obligations.

4. 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:

	M. Wade Grace III as Attorney-in-Fact for Jeffrey Donnelly	05/13/2026
	** 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.
* Form 4: SEC 1474 (03-26)

FAQ

What equity transactions did PDM director Jeffrey Donnelly report on May 12, 2026?

Donnelly reported the vesting of 15,217 restricted stock units into common shares and the forfeiture of 3,348 shares for tax withholding. He also received a new grant of 12,883 RSUs that will vest around the 2027 Annual Meeting.

Did Jeffrey Donnelly buy or sell Piedmont Realty Trust (PDM) stock in the market?

The filing does not show open-market buys or sells. Instead, it reflects RSU vesting, a derivative exercise into 15,217 common shares, and 3,348 shares delivered back to the company solely to cover tax obligations on the vesting.

How many Piedmont Realty Trust (PDM) shares does Jeffrey Donnelly hold after these transactions?

After the May 12, 2026 transactions, Donnelly directly holds 13,672 shares of Piedmont Realty Trust common stock. In addition, he holds 12,883 restricted stock units that represent rights to receive the same number of shares upon future vesting.

What new restricted stock units did Jeffrey Donnelly receive from Piedmont Realty Trust (PDM)?

On May 12, 2026, Donnelly was granted 12,883 restricted stock units. Each RSU represents a contingent right to one share of PDM common stock and will vest at the 2027 Annual Meeting or on the one-year anniversary of the grant date in May 2027.

Why were 3,348 Piedmont Realty Trust (PDM) shares forfeited by Jeffrey Donnelly?

In connection with the vesting of 15,217 deferred stock shares on May 12, 2026, 3,348 shares were forfeited and delivered to Piedmont Realty Trust. This was done to satisfy Donnelly’s tax withholding obligations arising from the RSU vesting event.