BARRETT KELLY HEFNER 4

What Happened Barrett Kelly Hefner, a director of Piedmont Realty Trust (PDM), had 15,217 restricted stock units (RSUs) vest and be converted into common shares on May 12, 2026, and on the same date received a new grant of 12,883 RSUs. The filing shows the vested RSUs were settled in PDM common stock (no cash paid), and the new RSU grant carries a vesting condition (see notes). The transactions are recorded as derivative conversion/exercise (code M) for the vested units and an award/grant (code A) for the new RSUs.

Key Details

• Transaction date: May 12, 2026 (report filed May 13, 2026).
• Vested/converted RSUs: 15,217 units converted/settled into shares (reported as acquired and as a $0 derivative disposition in the filing).
• New RSU grant: 12,883 restricted stock units granted on May 12, 2026 (reported at $0).
• Price/value: Filing records $0 for the grant/conversion lines because these were equity award settlements/grants, not open-market cash purchases or sales; no cash consideration shown.
• Shares owned after transaction: Not specified in the information provided in your summary.
• Footnotes of note:
  • F1: Each RSU represents a contingent right to one share; PDM may settle RSUs in cash or stock.
  • F2: The 15,217 RSUs were originally granted May 15, 2025, vested at the 2026 annual meeting, and were settled in common stock.
  • F3: The 12,883 RSUs were granted May 12, 2026 and vest by the earlier of the 2027 annual meeting or the May 2027 anniversary.
• Timeliness: Filing covers period of report May 12, 2026 and was filed May 13, 2026 (appears timely).

Context

• RSU vesting/conversion is a compensation event (not an open-market buy or sale) and does not by itself signal a trading intent; the vested units were settled into shares rather than sold.
• The M code here denotes conversion/exercise of a derivative (RSU conversion to shares); A denotes an award/grant.
• New RSUs vest in the future under stated conditions — they are prospective compensation, not immediate share purchases.