Wells George M. 4
4 · Piedmont Realty Trust, Inc. · Filed Feb 18, 2026
Research Summary
AI-generated summary of this filing
Piedmont (PDM) EVP George M. Wells Vests RSUs, Receives Deferred Units
What Happened
George M. Wells, EVP and Co‑Chief Operating Officer of Piedmont Realty Trust (PDM), had the final tranche of 5,450 restricted stock units (RSUs) vest on Feb 13, 2026; the vested RSUs were settled in PDM common stock. To satisfy tax withholding, 2,428 of those shares were forfeited/delivered to PDM at $8.25 per share (tax withholding value $20,031). On Feb 17, 2026, Wells was also granted 36,585 deferred stock units (DSUs) that vest in four equal annual installments.
Key Details
- Transaction dates: Feb 13, 2026 (RSU vest/settlement and tax withholding); Feb 17, 2026 (DSU grant). Filing date: Feb 18, 2026.
- Vesting/settlement: 5,450 RSUs vested and were converted to shares; 2,428 shares were withheld to cover taxes (withholding value reported as $20,031 at $8.25/share).
- New grant: 36,585 deferred stock units granted on Feb 17, 2026; vest in four equal annual installments beginning on the grant anniversary.
- Ownership after transaction: Not specified in the provided report.
- Footnotes: F1 confirms the 5,450 vested RSUs were the final 25% of a 21,801‑unit grant from Feb 13, 2023; F2 notes each DSU is a contingent right to one share and may be settled in cash or stock; F3 reiterates DSU vesting schedule.
- Filing timeliness: Filing date is Feb 18, 2026 and covers Feb 13 and Feb 17 transactions; timeliness (late vs. timely) is not specified in the supplied data.
Context
This filing reports routine equity compensation activity (RSU vesting and a new deferred‑unit grant), not an open‑market purchase or sale. The RSU settlement with shares withheld for taxes is a common payroll/tax withholding action and does not necessarily indicate a change in insider sentiment. Deferred stock units are a form of compensation that may be settled in cash or shares per the company plan.
Insider Transaction Report
- Exercise/Conversion
Common Stock
[F1][F2]2026-02-13+5,450→ 152,311 total - Tax Payment
Common Stock
[F1]2026-02-13$8.25/sh−2,428$20,031→ 149,883 total - Exercise/Conversion
Restricted Stock Units
[F2][F1]2026-02-13−5,450→ 68,456 totalExercise: $0.00→ Common Stock (5,450 underlying) - Award
Restricted Stock Units
[F2][F3]2026-02-17+36,585→ 105,041 totalExercise: $0.00→ Common Stock (36,585 underlying)
Footnotes (3)
- [F1]On February 13, 2023, the reporting person was granted 21,801 restricted stock units, vesting in four equal, annual installments beginning on the grant date. On February 13, 2026, the final 25% of the grant vested (5,450 shares), and were settled in PDM common stock. In connection with this vesting, 2,428 shares were forfeited by the employee and delivered to PDM to satisfy tax withholding obligations.
- [F2]Each deferred stock unit represents a contingent right to receive one share of PDM common stock. Deferred stock units may be settled in cash or common stock at PDM's election.
- [F3]On February 17, 2026, the reporting person was granted 36,585 deferred stock units, vesting in four equal, annual installments beginning on the anniversary of the grant date.