AvalonBay director granted 135 deferred stock units

AvalonBay Communities director Conor C. Flynn received 135 Deferred Stock Units as part of his quarterly board compensation.

Rhea-AI Filing Summary

AvalonBay Communities director Conor C. Flynn received 135 Deferred Stock Units as part of his quarterly board compensation. These units were granted in lieu of a cash director fee under the company’s equity incentive plan and carry a zero dollar grant price.

The Deferred Stock Units will convert into common stock on a one-for-one basis after Flynn ceases to be a director. Following this grant, he directly owns a total of 921.2032 shares of common stock, including these units, some of which may be subject to vesting requirements.

Insider Trade Summary

Grant/Award: 135 shares

Grant/Award 1 txn

Insider Flynn Conor C

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock, par value $.01 per share	135	$0.00	$0.00

Holdings After Transaction: Common Stock, par value $.01 per share — 921.2032 shares (Direct)

Footnotes (2)

1. F1. Reflects grant of Deferred Stock Units ("Units") under the issuer's Second Amended and Restated 2009 Equity Incentive Plan pursuant to an election previously made by the reporting person to receive Units in lieu of the quarterly cash director's fee otherwise due. The Units will convert into common stock on a one for one basis after the reporting person ceases to be a director of the issuer.
2. F2. The amount of securities owned following the reported transaction reflects direct ownership of all shares of common stock, including Units, which may be subject to vesting requirements.

Key Figures

Deferred Stock Units granted: 135 shares Grant price: $0.00 per unit Total shares after transaction: 921.2032 shares

3 metrics

Deferred Stock Units granted 135 shares Grant of Deferred Stock Units in lieu of quarterly cash director fee

Grant price $0.00 per unit Non-cash equity compensation grant

Total shares after transaction 921.2032 shares Direct ownership of common stock including Deferred Stock Units

Key Terms

Deferred Stock Units, Equity Incentive Plan, vesting requirements

3 terms

Deferred Stock Units financial

"Reflects grant of Deferred Stock Units ("Units") under the issuer's Second Amended and Restated 2009 Equity Incentive Plan"

Deferred stock units are promises from a company to give an employee shares of stock at a future date, often after certain conditions are met or after leaving the company. They function like a form of delayed compensation, allowing employees to earn shares over time. For investors, they represent potential future ownership in the company, but do not provide immediate voting rights or dividends until the shares are actually received.

Equity Incentive Plan financial

"under the issuer's Second Amended and Restated 2009 Equity Incentive Plan pursuant to an election"

An equity incentive plan is a program that gives employees, executives or directors the right to receive company stock or options to buy stock as part of their pay. Think of it as offering slices of future company profit to motivate people to boost long‑term performance; for investors it matters because it can align employee goals with shareholder value but also increases the number of shares outstanding, which can dilute existing ownership.

vesting requirements financial

"including Units, which may be subject to vesting requirements"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did AvalonBay Communities (AVB) director Conor C. Flynn report on this Form 4?

Conor C. Flynn reported receiving 135 Deferred Stock Units as board compensation. The grant reflects an election to take equity instead of a quarterly cash director fee, under AvalonBay’s equity incentive plan.

How many AvalonBay (AVB) shares does Conor C. Flynn hold after this transaction?

After the transaction, Flynn directly owns 921.2032 shares of AvalonBay common stock. This total includes the newly granted Deferred Stock Units and other shares, some of which may still be subject to vesting conditions.

Was this AvalonBay (AVB) Form 4 transaction a market purchase or sale?

The filing shows a grant of 135 Deferred Stock Units with a zero dollar price, not a market purchase or sale. It represents non-cash director compensation rather than open-market trading activity in AvalonBay shares.

What are the terms of the Deferred Stock Units granted to Conor C. Flynn at AvalonBay (AVB)?

The Deferred Stock Units convert into AvalonBay common stock on a one-for-one basis after Flynn ceases to be a director. They were granted under the Second Amended and Restated 2009 Equity Incentive Plan in lieu of a cash director’s fee.

Does this AvalonBay (AVB) Form 4 indicate any derivative positions for Conor C. Flynn?

The insider data for this Form 4 shows no derivative securities reported for Flynn. The only transaction disclosed is the grant of 135 Deferred Stock Units classified as non-derivative common stock-equivalent compensation.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/21/2026 - 04:45 PM Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Flynn Conor C

(Last) (First) (Middle)

C/O AVALONBAY COMMUNITIES, INC.

4040 WILSON BLVD

(Street)

ARLINGTON VIRGINIA 22203

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
AVALONBAY COMMUNITIES INC [ AVB ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/19/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock, par value $.01 per share	05/19/2026		A		135(1)	A	$0	921.2032(2)	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Reflects grant of Deferred Stock Units ("Units") under the issuer's Second Amended and Restated 2009 Equity Incentive Plan pursuant to an election previously made by the reporting person to receive Units in lieu of the quarterly cash director's fee otherwise due. The Units will convert into common stock on a one for one basis after the reporting person ceases to be a director of the issuer.

2. The amount of securities owned following the reported transaction reflects direct ownership of all shares of common stock, including Units, which may be subject to vesting requirements.

	By Lee N. Davis under Power of Attorney dated as of November 10, 2025	05/21/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)