Wells George M. 4
4 · Piedmont Realty Trust, Inc. · Filed Feb 23, 2026
Research Summary
AI-generated summary of this filing
Piedmont Realty (PDM) EVP George Wells Receives 10,496 Shares
What Happened George M. Wells, EVP and Co‑COO of Piedmont Realty Trust (PDM), had 10,496 deferred stock units vest on February 20, 2026. Those units were converted to PDM common stock (code M). To satisfy withholding tax obligations, 4,675 shares were forfeited/delivered back to PDM at $7.98 per share (code F), totaling $37,307. Net shares received by Wells from this vesting were 5,821 shares. This was a vesting/settlement of previously awarded deferred stock units rather than an open‑market purchase or sale.
Key Details
- Transaction date: February 20, 2026; Form 4 filed February 23, 2026.
- Conversion/settlement: 10,496 deferred stock units converted into common stock (code M).
- Tax withholding: 4,675 shares withheld at $7.98/share = $37,307 (code F).
- Net shares received: 10,496 − 4,675 = 5,821 shares.
- Shares owned after transaction: Not reported in the provided filing.
- Footnotes: The DSUs were part of a grant of 41,985 deferred stock units on Feb 20, 2024 that vest in four equal annual installments; DSUs may be settled in cash or common stock.
Context This was a routine vesting/settlement of deferred compensation (not a market buy or sale). Withholding shares to cover taxes is common in such settlements and does not by itself indicate an intent to sell additional shares. The filing documents conversion of DSUs rather than exercise of stock options for cash.
Insider Transaction Report
- Exercise/Conversion
Common Stock
[F1][F2]2026-02-20+10,496→ 160,379 total - Tax Payment
Common Stock
[F1]2026-02-20$7.98/sh−4,675$37,307→ 155,704 total - Exercise/Conversion
Restricted Stock Units
[F2][F1]2026-02-20−10,496→ 94,545 totalExercise: $0.00→ Common Stock (10,496 underlying)
Footnotes (2)
- [F1]On February 20, 2024, the reporting person was granted 41,985 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 (10,496 shares) and were settled in PDM common stock. In connection with this vesting, 4,675 shares were forfeited by the employee and delivered to PDM to satisfy tax withholding obligations.
- [F2]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.