Dilution profile // every instrument, one screen, from SEC filings

Piedmont Realty Trust, Inc. (PDM)

CIK 1042776 · all EDGAR filings →

Overall dilution risk
HIGHworst of 3 computed sub-ratings (offering ability)
= the worst band among the computed sub-ratings, no hidden weighting
not every sub-rating was computable; treat as a floor
Offering ability
HIGH$250M registered
= total registered offering amount from the fee exhibits of live registrations (bands: $1M / $20M)
registered capacity, not remaining: amounts already taken down are not subtracted yet
Overhead supply
NOT COMPUTEDno warrant count tagged in XBRL
= warrant shares outstanding divided by current shares outstanding
absence of a tag is not proof of absence of warrants
Historical dilution
LOW0% O/S in 3y
= share count now vs 3 years ago (bands: 30% / 100%); a reverse split pushes this negative
Cash need
LOWoperating cash flow positive
= cash vs trailing operating burn (bands: 6mo / 24mo; positive operating CF = low)

Same rating bands the category standard uses, but free, with the formula on the chip and the gaps in the data said out loud.

Shares outstanding over time

2021-02-162026-10-23

Latest: 123.8M shares as of Oct 23, 2026 (10-Q).

⊙
EVIDENCE — filed/published fact
SourceSEC XBRL, cover-page share count
Fielddei:EntityCommonStockSharesOutstanding
As of2026-10-23
HowThe newest cover-page count as filed, whatever its age. The float checker applies a 200-day freshness rule and sets this beside the balance-sheet count.
Open the source document →

Cash runway

Self-funding

generates cash

Full breakdown: cash runway tool · source filing →

Warrants

No warrant figures tagged in this filer’s XBRL facts. That means the company has not reported them in structured form; it does not prove no warrants exist. The exhibits are the ground truth.

Convertible notes

NotePrincipalCarryingConv. priceRateIf converted
230 Million Exchangeable Senior Notes Due 2031$230.0M$230.0M$12.652.875%-2.88%~18.2M sh

If every note above converted at its tagged price: ~18.2M new shares on 123.8M currently outstanding. An estimate from principal ÷ conversion price, with inputs carrying different as-of dates; make-whole adjustments, capped calls and partial repurchases are not modeled.

Notes exactly as the company dimensioned them in its 10-Q filed Oct 26, 2026 →. Principal is face amount as tagged, not what remains after repurchases unless the filer updated the tag. A note the filer did not dimension is absent here, not absent from the balance sheet; the exhibits stay the ground truth.

Fully diluted build-up

Shares outstanding plus every potential-share instrument the filer tagged in XBRL, each at its own as-of date. An estimate assembled from filed figures, not a filing figure itself.

Shares outstanding123.8MOct 23, 2026
+ 230 Million Exchangeable Senior Notes Due 2031 (if fully converted)18.2MSep 30, 2026
Fully diluted estimate142.0M+14.7% vs O/S

Still excluded, because the filer does not tag them in countable form: employee options and RSUs, any instrument living only in exhibit prose, and instruments above missing a share count. Inputs carry different as-of dates, shown per row. Each figure traces to the tranche and note tables above and their cited filings.

Registrations and offerings

Registered offering capacity on live registrations: $250.0Mfrom the structured fee exhibits; registered is not remaining, takedowns are not subtracted

S-3ASRJul 30, 2025$250.0M registeredfiling →

Last 12 months: 3 executed · 0 registered.

EXECUTEDSep 17, 2026Unregistered share sale disclosed (8-K item 3.02)8-K →
EXECUTEDNov 14, 2025Prospectus supplement priced — shares or notes (large filers: often a bond deal)424B2 →
EXECUTEDNov 13, 2025Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5 →
MARKETINGNov 13, 2025Free-writing prospectus — offering being marketedFWP →
REGISTEREDJul 30, 2025Automatic shelf registration — effective immediately (large filers)S-3ASR →
EXECUTEDJul 30, 2025Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5 →
EXECUTEDJun 14, 2024Prospectus supplement priced — shares or notes (large filers: often a bond deal)424B2 →
EXECUTEDJun 13, 2024Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5 →
MARKETINGJun 13, 2024Free-writing prospectus — offering being marketedFWP →
EXECUTEDDec 6, 2023Prospectus supplement priced — shares or notes (large filers: often a bond deal)424B2 →
EXECUTEDDec 5, 2023Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5 →
MARKETINGDec 5, 2023Free-writing prospectus — offering being marketedFWP →

Full history and shelf status: offering checker · S-3 shelf checker

Source: SEC EDGAR XBRL company facts and filing metadata, fetched live and cached briefly. Share counts are cover-page figures with their form named. Warrant tranches and convertible notes come from the dimensioned facts in the latest 10-Q/10-K instance document, exactly as the company tagged them; untagged tranches and notes are absent, not disproven. Nothing on this page is manually verified and nothing is behind a login: what free data supports is shown, what it cannot support is stated. Not investment advice.

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