Piedmont Office Realty Trust Files 8-K with Director Changes
Ticker: PDM · Form: 8-K · Filed: 2024-09-30T00:00:00.000Z
Sentiment: neutral
Topics: corporate-governance, executive-compensation, board-of-directors
Related Tickers: PDM
TL;DR
Piedmont Office Realty Trust (PDM) filed an 8-K: director changes and compensation updates. Board shuffle incoming.
AI Summary
Piedmont Office Realty Trust, Inc. filed an 8-K on September 30, 2024, reporting on the departure of a director, election of a new director, and updates to compensatory arrangements. The filing also includes financial statements and exhibits.
Why It Matters
Changes in board composition and executive compensation can signal shifts in company strategy or governance, impacting investor confidence.
Risk Assessment
Risk Level: low — This filing primarily concerns routine corporate governance and executive compensation matters, not significant financial distress or operational changes.
Key Players & Entities
- Piedmont Office Realty Trust, Inc. (company) — Registrant
- September 30, 2024 (date) — Date of Report
FAQ
Who departed from the board of directors?
The filing indicates the departure of a director, but the specific name is not detailed in the provided text.
Was a new director elected?
Yes, the filing explicitly states the election of a director.
What other items are covered in this 8-K?
The 8-K also covers updates to compensatory arrangements of certain officers and includes financial statements and exhibits.
What is Piedmont Office Realty Trust's fiscal year end?
Piedmont Office Realty Trust's fiscal year ends on December 31.
What is the company's principal executive office address?
The principal executive offices are located at 5565 Glenridge Connector Ste. 450, Atlanta, Georgia 30342.
Filing Stats: 2,038 words · 8 min read · ~7 pages · Grade level 13.5 · Accepted 2024-09-30 17:01:53
Key Financial Figures
- $0.01 — ange on which registered Common Stock, $0.01 par value PDM New York Stock Exchan
- $475,000 — will receive an initial base salary of $475,000 with eligibility to earn a target incen
- $600,000 — stock units with a grant date value of $600,000 that will vest and become nonforfeitabl
- $950,000 — regate target grant date value equal to $950,000, with 40% of the value granted as defer
- $50,000 — ive a relocation bonus in the amount of $50,000 to support her relocation to Atlanta.
Filing Documents
- d863603d8k.htm (8-K) — 37KB
- d863603dex101.htm (EX-10.1) — 14KB
- d863603dex102.htm (EX-10.2) — 136KB
- d863603dex103.htm (EX-10.3) — 57KB
- g863603image001.jpg (GRAPHIC) — 6KB
- g863603snap7.jpg (GRAPHIC) — 3KB
- 0001193125-24-229074.txt ( ) — 439KB
- pdm-20240930.xsd (EX-101.SCH) — 3KB
- pdm-20240930_lab.xml (EX-101.LAB) — 17KB
- pdm-20240930_pre.xml (EX-101.PRE) — 11KB
- d863603d8k_htm.xml (XML) — 3KB
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits: The following exhibits are attached with this current report on Form 8-K: Exhibit No. Description 10.1+ Offer Letter, dated September 30, 2024, between the Company and Sherry Rexroad. 10.2+ Executive Severance Plan, effective September 30, 2024. 10.3+ Separation Agreement, dated September 30, 2024, between the Company and Robert Bowers. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) + Indicates management compensatory plan or arrangement.
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Piedmont Office Realty Trust, Inc. By: /s/ Laura P. Moon Laura P. Moon Senior Vice President and Chief Accounting Officer Date: September 30, 2024