Smith Christopher Brent 4

What Happened
Christopher Brent Smith, President & CEO and a director of Piedmont Realty Trust (PDM), had performance and deferred equity vest on February 3, 2026. He was granted 296,313 unrestricted shares under the 2023–2025 Long Term Incentive plan (awarded at $0.00). To satisfy tax withholding, 131,978 of those shares were delivered back to the company at $8.39 per share for $1,107,295. Separately, 39,906 deferred stock units (25% of a 159,624-unit grant from Feb 3, 2025) vested and were settled in common stock; 18,410 of those shares were withheld at $8.39 per share for $154,460. Total shares withheld: 150,388, total value withheld ≈ $1,261,755. These were award vestings and withholding actions, not open‑market sales.

Key Details

• Transaction date: February 3, 2026 (Form 4 filed Feb 5, 2026). Filing appears timely.
• Awarded shares: 296,313 shares (performance share vesting) acquired at $0.00.
• Deferred units vested/settled: 39,906 DSUs converted to common stock.
• Shares withheld for taxes: 131,978 (from performance award) + 18,410 (from DSU settlement) at $8.39 each, totaling $1,261,755.
• Shares owned after transaction: Not specified in the filing.
• Footnotes: F1 = award granted without restriction under the 2023–2025 LTIP; F2/F4 = shares forfeited/delivered to PDM to satisfy tax withholding; F3 = DSUs are contingent rights payable in cash or stock; F4 = DSUs were a 159,624-unit grant vesting in four annual installments.
• Transaction types: A = award/grant, M = conversion/exercise of deferred equity, F = shares delivered for tax withholding.

Context
These entries reflect routine vesting and company tax-withholding (commonly seen when equity awards vest) rather than a discretionary open-market sale or a purchase indicating a change in sentiment. The deferred stock units are a form of restricted/contingent equity that can be settled in stock or cash; here they were settled in stock with withholding to cover taxes.