Valente Alex 4

What Happened

• Alex Valente, EVP and Co-COO of Piedmont Realty Trust (PDM), had the second installment of deferred stock units vest on Feb 20, 2026. 6,106 deferred stock units converted into common shares and were settled in stock. To satisfy tax withholding, 2,720 of those shares were forfeited to the company at $7.98 per share (withholding value $21,706), leaving a net 3,386 shares retained by Valente.
• The vested units came from a February 20, 2024 grant of 24,427 deferred stock units that vest in four equal annual installments; this was the second 25% installment.

Key Details

• Transaction date: 2026-02-20; Form 4 filed 2026-02-23 (timely filing).
• Shares credited: 6,106 shares vested/settled into common stock.
• Shares withheld for taxes: 2,720 shares at $7.98 each = $21,706.
• Net shares received by insider: 6,106 − 2,720 = 3,386 shares.
• Footnote: Deferred stock units represent a contingent right to one share and may be settled in cash or stock at the company's election.
• Shares owned after the transaction: not specified on this Form 4.

Context

• This was a routine vesting/settlement of deferred compensation, not an open-market buy or discretionary sale. The tax withholding was done via share forfeiture (common practice) rather than a cash payment. Deferred stock units are compensation-related and do not necessarily signal the insider's market view.