Piedmont Office Realty Trust, Inc. 4
4 · Piedmont Office Realty Trust, Inc. · Filed May 22, 2017
Insider Transaction Report
Form 4
Owens Raymond Lee
Exec VP - Capital Mkts
Transactions
- Award
Common Stock
2017-05-18+8,093→ 93,635 total - Tax Payment
Common Stock
2017-05-18$21.38/sh−386$8,253→ 93,249 total
Footnotes (3)
- [F1]Mr. Owens was awarded 9,249 shares on May 18, 2017. Of the award, 25% vests on the day of the grant (2,312 shares), and the remaining award (6,937 shares) vests ratably on the anniversary date of the award over the following three years.
- [F2]Mr. Owens elected to defer 50% of the award that vested immediately on May 18, 2017 (equivalent of 1,156 shares) into the Piedmont Office Realty Trust, Inc. (the "Issuer") Executive NonQualified Deferred Compensation Plan ("NQDCP") (approved by the Board of Directors of the Issuer on December 5, 2013). A cash contribution approximating the dollar value of the amount to be deferred will be covered by a Rabbi Trust established by the Issuer. Under the terms of the NQDCP, the dollar amount of the deferral is credited to the Rabbi Trust instead of crediting shares to the participant's share account. The investments of the Rabbi Trust will be substantially the same as the investments selected under the Issuer's 401(k) plan, including various mutual funds, but will not include ownership of Issuer common stock. Payouts under the NQDCP will be made only in cash.
- [F3]In connection with the vesting of 1,156 shares on May 18, 2017, representing shares vested net of deferral into the NQDCP, 386 shares were forfeited by the employee and delivered to the Company to satisfy tax withholding obligations.