Maiorana Brendan C 4

What Happened

• Brendan C. Maiorana, Executive Vice President and Chief Financial Officer of Highwoods Properties, received two grants of restricted stock on March 1, 2026: 43,944 shares and 23,025 shares (total 66,969 shares) at $0.00 (awarded as compensation). On the same date, 8,919 shares were tendered/disposed to satisfy tax withholding obligations (reported as code F, $0.00).
• These transactions are compensation awards (not open-market purchases or sales); the awards themselves have no purchase price and the tendered shares were used solely to cover taxes.

Key Details

• Transaction dates: March 1, 2026; filing date (Form 4): March 3, 2026 (filed timely).
• Awards: 43,944 shares (code A) and 23,025 shares (code A), price $0.00; Tax withholding: 8,919 shares withheld/tendered (code F), price $0.00.
• Total shares granted: 66,969; shares disposed for taxes: 8,919.
• Shares owned after transaction: not specified in this filing.
• Footnotes:
  • F1: Time-based RSUs vest ratably over four years and there is also a total-return based award that vests based on performance.
  • F2: Part of the grant consists of time-based RSUs vesting ratably over three years granted in lieu of the CFO receiving cash under the 2025 annual incentive.
  • F3: The 8,919-share disposal reflects tendering restricted shares to satisfy tax liabilities upon vesting.
• Transaction codes: A = award/acquisition; F = tax withholding/tendered shares.

Context

• These are routine compensation-related restricted stock grants (not open market buys or sales). Awards vest over time or based on future performance, so they do not necessarily indicate immediate bullish or bearish sentiment.
• The tax-related disposal is a common practice where vested shares are surrendered to cover tax obligations and does not represent a cash sale on the open market.