Moon Laura P 4
4 · Piedmont Realty Trust, Inc. · Filed Feb 23, 2026
Research Summary
AI-generated summary of this filing
Piedmont Realty (PDM) SVP Laura Moon Receives 4,007 Vesting Shares; 1,785 Withheld
What Happened
Laura P. Moon, Senior Vice President and Chief Accounting Officer of Piedmont Realty Trust (PDM), had 4,007 deferred stock units vest on February 20, 2026 and those units were settled in common stock. The vested units had an effective exercise/conversion price of $0.00 (i.e., no cash payment required). To satisfy tax withholding obligations, 1,785 shares were forfeited/withheld and delivered to the company, valued at $7.98 per share for a total withholding value of $14,244.
Key Details
- Transaction date: February 20, 2026 (Form 4 filed February 23, 2026 — timely filing).
- Primary event: Vesting/settlement of 4,007 deferred stock units into common shares (derivative code M).
- Tax withholding: 1,785 shares withheld (code F) at $7.98/share = $14,244.
- Exercise/conversion price: $0.00 for the vested units (no cash paid).
- Shares owned after transaction: Not specified in the filing.
- Footnotes: Deferred stock units (DSUs) each represent a contingent right to one share and may be settled in cash or stock at Piedmont’s election (F1). The DSUs were granted on Feb 20, 2024 in a 4-part vesting schedule; the second 25% (4,007 units) vested on Feb 20, 2026 and were settled in stock; 1,785 shares were withheld for taxes (F2).
Context
This was a scheduled vesting/settlement of previously granted deferred stock units, not an open-market purchase or voluntary sale. The withholding of shares to cover taxes is a routine administrative step (a cashless/stock-withholding settlement) and does not necessarily indicate a change in the insider’s market view. The transaction codes: M = exercise/conversion of a derivative (DSU vesting/settlement); F = shares withheld to satisfy tax obligations.
Insider Transaction Report
- Exercise/Conversion
Common Stock
[F1][F2]2026-02-20+4,007→ 79,598 total - Tax Payment
Common Stock
[F2]2026-02-20$7.98/sh−1,785$14,244→ 77,813 total - Exercise/Conversion
Restricted Stock Units
[F1][F2]2026-02-20−4,007→ 137,602 totalExercise: $0.00→ Common Stock (4,007 underlying)
Footnotes (2)
- [F1]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.
- [F2]On February 20, 2024, the reporting person was granted 16,031 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 (4,007 shares) and were settled in PDM common stock. In connection with this vesting, 1,785 shares were forfeited by the employee and delivered to PDM to satisfy tax withholding obligations.