Moon Laura P 4

What Happened
Laura P. Moon, SVP and CAO of Piedmont Realty Trust (PDM), had the final tranche of a 2023 restricted stock unit (RSU) award vest on Feb 13, 2026 and received shares. Of the 2,606 vested RSUs, 1,161 shares were withheld to cover tax obligations (withholding price listed as $8.25 per share, totaling $9,578), resulting in a net increase of 1,445 common shares to her holdings. On Feb 17, 2026 she was granted 14,634 deferred stock units (DSUs), which vest in four equal annual installments beginning on the grant anniversary.

Key Details

• Vesting/settlement: Feb 13, 2026 — 2,606 RSUs vested and were converted into common shares; 1,161 shares were withheld for taxes (amount $9,578). Net shares received = 1,445.
• Grant: Feb 17, 2026 — 14,634 deferred stock units granted, vesting in four equal annual installments beginning on the grant date.
• Derivative explanation: Deferred stock units are contingent rights to receive one share each and may be settled in cash or stock at the company’s election.
• Shares owned after transaction: not specified in the provided filing excerpt.
• Filing timeliness: Form 4 filed Feb 18, 2026; the Feb 13 and Feb 17 transactions were reported within the applicable SEC reporting window and appear timely.

Context
This activity is compensation-related (vesting and a new grant), not an open-market buy or discretionary sale. The withholding of 1,161 shares to satisfy tax liabilities is a routine administrative step (not a market sale signaling a change in sentiment). Deferred stock units are a form of long-term compensation and may convert to shares or cash in the future per company election.