SEC Form 4 · accession 0001042776-17-000128
Piedmont Office Realty Trust, Inc. · PDM
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Raymond Lee Owens
Officer — EVP- Chief Investment Officer
Period of report
May 18, 2017
Accepted (ET)
May 22, 2017 · 4:54 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001042776
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1,F2 | May 18, 2017 | A | 8,093 | $0.00 | A | 93,635 | D | |
| Common StockF3 | May 18, 2017 | F | 386 | $21.38 | D | 93,249 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1Mr. Owens was awarded 9,249 shares on May 18, 2017. Of the award, 25% vests on the day of the grant (2,312 shares), and the remaining award (6,937 shares) vests ratably on the anniversary date of the award over the following three years.
- F2Mr. Owens elected to defer 50% of the award that vested immediately on May 18, 2017 (equivalent of 1,156 shares) into the Piedmont Office Realty Trust, Inc. (the "Issuer") Executive NonQualified Deferred Compensation Plan ("NQDCP") (approved by the Board of Directors of the Issuer on December 5, 2013). A cash contribution approximating the dollar value of the amount to be deferred will be covered by a Rabbi Trust established by the Issuer. Under the terms of the NQDCP, the dollar amount of the deferral is credited to the Rabbi Trust instead of crediting shares to the participant's share account. The investments of the Rabbi Trust will be substantially the same as the investments selected under the Issuer's 401(k) plan, including various mutual funds, but will not include ownership of Issuer common stock. Payouts under the NQDCP will be made only in cash.
- F3In connection with the vesting of 1,156 shares on May 18, 2017, representing shares vested net of deferral into the NQDCP, 386 shares were forfeited by the employee and delivered to the Company to satisfy tax withholding obligations.