COHEN GLENN GARY 4

What Happened

• Glenn G. Cohen, a director of Piedmont Realty Trust, had 15,217 restricted stock units (RSUs) vest on May 12, 2026; those vested units were settled in PDM common stock. The filing records the derivative conversion (exercise/settlement) and corresponding settlement of those 15,217 units into shares at $0.00 consideration.
• At the same meeting (May 12, 2026) Cohen was also granted 12,883 new RSUs that will vest on the earlier of the 2027 Annual Meeting or the one-year anniversary of the grant (May 2027).

Key Details

• Transaction date: May 12, 2026; Form 4 filed May 13, 2026 (timely).
• Settled/converted RSUs: 15,217 shares acquired via derivative conversion (reported at $0.00).
• New award: 12,883 RSUs granted (reported at $0.00); vesting tied to 2027 meeting or May 2027.
• Price/consideration: $0.00 shown for the settlements/grant — this reflects RSU settlement/grant mechanics, not an open-market purchase or gift of freely transferable shares.
• Footnotes: F1 explains an RSU is a contingent right to one share and may be settled in cash or stock; F2 confirms the 15,217 RSUs were granted May 15, 2025 and vested/settled May 12, 2026; F3 describes the new 12,883 RSU grant and its vesting schedule.
• Shares owned after transaction: Not specified in the filing.

Context

• This is a standard director compensation event: previously awarded RSUs vested and were converted into company shares, and the director received a new RSU grant subject to future vesting. Such awards are routine components of director pay and do not by themselves indicate a buy or sell signal.