Lang Barbara B 4

What Happened

• Barbara B. Lang, a director of Piedmont Realty Trust, had 15,217 restricted stock units (RSUs) that vested on May 12, 2026 and were converted into PDM common shares. To satisfy withholding obligations, 4,566 of those shares were forfeited to the company at $8.15/share for a tax withholding value of $37,213. Net shares delivered to Lang from the vesting were 10,651 (15,217 vested − 4,566 withheld).
• On the same date (May 12, 2026) Lang was granted 12,883 new RSUs that will vest on the earlier of the 2027 Annual Meeting or the one-year anniversary of the grant.

Key Details

• Transaction date: May 12, 2026; Form filed May 13, 2026.
• Tax withholding: 4,566 shares surrendered at $8.15 each = $37,213.
• Vesting/conversion: 15,217 RSUs settled into common stock (derivative conversion).
• New grant: 12,883 RSUs awarded on May 12, 2026 (vesting in ~1 year).
• Shares received net of withholding: 10,651 common shares.
• Footnotes: RSUs represent contingent rights to one share each and may be settled in cash or stock; these RSUs were settled in stock. The 15,217 RSUs were originally granted May 15, 2025 and vested at the 2026 meeting.
• Filing timeliness: Form 4 filed the day after the report date (no late filing indication in provided data).

Context

• This was a vesting/settlement of restricted stock units and a routine withholding of shares to cover tax obligations — not an open-market sale or purchase. Withholding of shares to pay taxes is common and does not necessarily indicate a change in the insider’s view of the company. The new RSU grant is typical director compensation and will vest later; it is not an immediate cash purchase.