SEC Form 4 · accession 0001042776-17-000159
Piedmont Office Realty Trust, Inc. · PDM
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Thomas R. Prescott
Officer — EVP-Midwest Region
Period of report
May 24, 2017
Accepted (ET)
May 26, 2017 · 6:46 am 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 24, 2017 | D | 502 | $21.59 | D | 23,059 | D | |
| Common StockF3 | May 24, 2017 | F | 469 | $21.59 | D | 22,590 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1Mr. Prescott was awarded 8,036 shares on May 24, 2016. Of the award, 25% vested on the day of the grant (2,009 shares), of which 503 shares were deferred directly 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), and 1,506 shares vested into Mr. Prescott's stock account. The remaining award (6,027 shares) vests ratably on the anniversary date of the award over the following three years.
- F2On May 24, 2017, 2,009 shares of the award mentioned above vested. Mr. Prescott again elected to defer 25% of the award (equivalent of 502 shares) into the NQDCP. A cash contribution equal to the dollar value of the 502 shares to be deferred (price determined in accordance with the NQDCP as the closing stock price on the date of the deferral) was credited to a Rabbi Trust established by the Issuer. The investments of the Rabbi Trust are substantially the same as the investments selected under the Issuer's 401(k) plan, including various mutual funds, but does not include ownership of Issuer common stock. Payouts under the NQDCP will be made only in cash.
- F3In connection with the vesting of 1,507 shares on May 24, 2017, (2,009 shares of the vesting of the award less the 502 shares converted to cash and deferred into the NQDCP), 469 shares were forfeited by the employee and delivered to the Company to satisfy tax withholding obligations.