SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): July 27, 2022
Piedmont Office Realty Trust, Inc.
(Exact name of registrant as specified in its charter)
Commission File Number: 001-34626
|(State or other jurisdiction of||(IRS Employer|
5565 Glenridge Connector Ste. 450
Atlanta, Georgia 30342
(Address of principal executive offices, including zip code)
(Registrant's telephone number, including area code)
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
|Title of each class||Trading Symbol||Name of each exchange on which registered|
|Common Stock, $0.01 par value||PDM||New York Stock Exchange|
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.o
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(d) Appointment of Venkatesh S. Durvasula as Director
On July 27, 2022, the Board of Directors of Piedmont Office Realty Trust, Inc. (the "Registrant") appointed Venkatesh S. Durvasula to serve as a director of the Registrant, effective August 1, 2022.
Mr. Durvasula will serve as a member of the Capital Committee. His compensation as a director will be provided on the same basis as that provided to the Registrant's other non-employee directors, described on page 51 of the Registrant's most recent Annual Proxy Statement as filed with the Securities and Exchange Commission on March 18, 2022, which description is incorporated herein by reference. There are no transactions in which Mr. Durvasula has or will have an interest that would be required to be disclosed pursuant to Item 404(a) of Regulation S-K under the Securities Exchange Act of 1934, as amended, at this time.
The press release issued by the Registrant on August 2, 2022 announcing Mr. Durvasula's appointment is filed as Exhibit 99.1 hereto and incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this Current Report on Form 8-K to be signed on its behalf by the undersigned hereunto duly authorized.
| || ||Piedmont Office Realty Trust, Inc.|
|Dated:||August 2, 2022||By:||/s/ Robert E. Bowers|
| || ||Robert E. Bowers|
| || ||Chief Financial Officer and Executive Vice President|
Tesh Durvasula Joins Piedmont Office Realty Trust’s Board of Directors
Atlanta, August 2, 2022 – Piedmont Office Realty Trust, Inc. (NYSE:PDM) announced today that its Board of Directors has appointed Venkatesh (“Tesh”) S. Durvasula, as a member of the Board, effective August 1, 2022. Durvasula will serve as an independent director of the Company and as a member of the Capital Committee of the Board.
Durvasula is currently the Chief Executive Officer (“CEO”) and member of the board of directors of Africa Data Centres, a London-based, Cassava Technology company responsible for the executive leadership of a $1.5 billion data center and renewable energy business on the continent of Africa. Prior to joining Africa Data Centres, Durvasula was CEO and President of CyrusOne (previously NASDAQ: CONE), an approximately $12 billion data center REIT recently acquired by funds managed by global investment firm KKR and infrastructure investor Global Infrastructure Partners. While at Cyrus One, Durvasula grew the business into the third-largest data center REIT and successfully pivoted the company’s growth strategy to hyperscale deployment in the United States and the European Union.
Commenting on the appointment, Frank C. McDowell, Chairman of Piedmont’s Board of Directors, said “We are pleased to welcome Tesh Durvasula as the newest member of the Piedmont Board. Tesh brings tremendous experience with publicly traded companies, in particular REITs, as well as experience working with large-scale information technology clients and the broader investor community.”
Piedmont Office Realty Trust, Inc. (NYSE: PDM) is an owner, manager, developer, redeveloper, and operator of high-quality, Class A office properties located primarily in the Sunbelt. Its approximately $5 billion portfolio is currently comprised of approximately 16 million square feet. The Company is a fully integrated, self-managed real estate investment trust (REIT) with local management offices in each of its markets and is investment-grade rated by S&P Global Ratings (BBB) and Moody’s (Baa2). Piedmont is a 2022 ENERGY STAR Partner of the Year. For more information, see www.piedmontreit.com.
Contact: Eddie Guilbert
Company: Piedmont Office Realty Trust
Phone: 770 418 8800