Donnelly Jeffrey 4

What Happened
Jeffrey Donnelly, a director of Piedmont Realty Trust (PDM), had 15,217 restricted stock units (RSUs) vest on May 12, 2026; those units were settled into common stock. To satisfy tax-withholding obligations, 3,348 of the settled shares were delivered back to the company (withheld) at an implied value of $8.15 per share, totaling $27,286. After withholding, the vesting resulted in a net receipt of 11,869 shares by Donnelly. Separately on May 12, 2026, Donnelly was granted 12,883 new RSUs that will vest by the earlier of the 2027 Annual Meeting or the one-year anniversary of the grant.

Key Details

• Transaction date: May 12, 2026; Form 4 filed May 13, 2026 (timely; filed within two business days).
• Vesting/settlement: 15,217 RSUs vested and were settled into 15,217 shares.
• Tax withholding: 3,348 shares were forfeited/withheld to cover taxes at $8.15/share = $27,286. (Transaction code F)
• Net shares received from vesting: 11,869 shares (15,217 vested − 3,348 withheld).
• New award: 12,883 RSUs granted on May 12, 2026; vesting on earlier of 2027 Annual Meeting or May 2027 anniversary. (Transaction code A)
• Nature of securities: RSUs (each represents a contingent right to one share). (Footnotes F1–F4)
• Shares owned after the transactions: Not specified in the filing.

Context

• This filing reflects routine equity compensation activity: RSUs vesting and shares withheld for taxes. Withholding for tax obligations is common and does not indicate a market sale decision.
• The filing shows no open-market purchases or discretionary sales by the insider—mainly an award settlement and a new grant.
• For retail investors, awards and vesting are compensation-related and not direct buy/sell signals from management; the withheld shares are standard tax withholding.