Certain non-cash investing and financing activities for the nine months ended September 30, 2026 and 2025 (in thousands) are outlined below:


	Nine Months Ended
	September 30, 2026		September 30, 2025
Tenant improvements funded by tenants	$	17,171	$	18,552
Changes in accrued capital expenditures and deferred lease costs (1)	$	27,202	$	28,790
Change in accrued dividends	$	—	$	(15,298)


Change in accrued deferred financing costs	$	(622)	$	—
Accrued stock issuance costs	$	—	$	(85)

(1)Accrued capital expenditures and deferred lease costs included in accounts payable, accrued expenses, and accrued capital expenditures as of September 30, 2026 and 2025 were approximately $37.0 million, and $32.9 million, respectively.

The following table provides a reconciliation of cash, cash equivalents, and restricted cash and escrows as presented in the accompanying consolidated statements of cash flows for the nine months ended September 30, 2026 and 2025, to the consolidated balance sheets for the respective period (in thousands):


	2026		2025
Cash and cash equivalents, beginning of period	$	731	$	109,637
Restricted cash and escrows, beginning of period	3,060		4,245


Total cash, cash equivalents, and restricted cash and escrows as presented in the accompanying consolidated statement of cash flows, beginning of period	$	3,791	$	113,882

Cash and cash equivalents, end of period	$	3,903	$	2,990
Restricted cash and escrows, end of period	2,577		5,145


Total cash, cash equivalents, and restricted cash and escrows as presented in the accompanying consolidated statement of cash flows, end of period	$	6,480	$	8,135

Amounts in restricted cash and escrows typically represent: escrow accounts required for future property repairs; escrow accounts for the payment of real estate taxes as required under certain of Piedmont's debt agreements; earnest money deposited by a buyer to secure the purchase of one of Piedmont's properties; or security or utility deposits held for tenants as a condition of their lease agreement.