SEC Form 4 · accession 0001042776-18-000147
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, 2018
Accepted (ET)
May 29, 2018 · 4:56 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 | May 24, 2018 | D | 502 | $18.64 | D | 33,100 | D | |
| Common StockF2 | May 24, 2018 | F | 442 | $18.64 | D | 32,658 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1Of the 2,009 shares that vested on May 24, 2018, representing 25% of an initial award granted on May 24, 2016, Mr. Prescott elected to defer 25% of the award (equivalent of 502 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 vale 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.
- F2In connection with the vesting of 1,507 shares of deferred stock on May 24, 2018, representing shares vested net of deferral into the NQDCP mentioned above, 442 shares were forfeited by the employee and delivered to the Company to satisfy tax withholding obligations.