Hager Mary M. 4

What Happened

• Mary M. Hager, a director of Piedmont Realty Trust, had 15,217 restricted stock units (RSUs) vest on May 12, 2026; those vested RSUs were converted/settled into PDM common stock. The filing also shows a grant of 12,883 new RSUs to Hager on May 12, 2026.
• The vested/converted units were recorded as derivative exercise/conversion (code M) and show $0 exercise price — this is settlement of RSUs, not a cash purchase or sale. No cash proceeds or sale of shares are reported.

Key Details

• Transaction date: May 12, 2026 (reported on Form 4 filed May 13, 2026).
• Converted/settled: 15,217 RSUs vested and converted to common stock (originally granted May 15, 2025 and vested at the 2026 Annual Meeting).
• New award: 12,883 RSUs granted May 12, 2026; these vest on the earlier of the 2027 Annual Meeting or the May 2027 grant anniversary.
• Price/Value: $0 exercise/price reported for the conversion/settlement (typical for RSU vesting); no sale proceeds reported.
• Shares owned after transaction: not specified in the provided filing details.
• Filing timeliness: filed the next day (May 13, 2026) — appears timely.
• Footnotes: RSUs represent contingent rights to one share each and may be settled in cash or common stock at the company’s election.

Context

• This was a vesting/settlement of RSUs and a contemporaneous grant of additional RSUs — not a market purchase or sale. Vesting/awards are routine compensation events and do not by themselves indicate buying or selling sentiment.
• For retail investors, RSU vesting increases outstanding shares held by insiders (when settled in stock) but does not reflect an out-of-pocket purchase by the insider.