Moon Laura P 4

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.