AvalonBay (AVB) EVP Alaine Walsh granted restricted and performance shares

Rhea-AI Filing Summary

AvalonBay Communities Executive Vice President Alaine Susan Walsh reported two stock awards. On February 26, 2026, she acquired 929 shares of common stock through a grant of restricted stock under the company’s Second Amended and Restated 2009 Equity Incentive Plan, with these shares subject to vesting requirements.

On the same date, she also acquired 901 shares of common stock earned from previously awarded performance share units under the same equity plan. After these equity awards, her directly owned common stock holdings, including restricted shares, increased as reflected in the post-transaction ownership totals disclosed in the filing.

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

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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^*

Walsh Alaine Susan

(Last) (First) (Middle)

C/O AVALONBAY COMMUNITIES, INC.

4040 WILSON BOULEVARD STE 1000

(Street)

ARLINGTON VA 22203

(City) (State) (Zip)

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

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

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

3. Date of Earliest Transaction (Month/Day/Year)
02/26/2026

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

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

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

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	02/26/2026		A		929(1)	A	$0	9,218(2)	D
Common Stock, par value $.01 per share	02/26/2026		A		901(3)	A	$0	10,119(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 shares of restricted stock under the Company's Second Amended and Restated 2009 Equity Incentive Plan, which shares are subject to vesting requirements.

2. The amount of securities owned following the reported transaction reflects direct ownership of all shares of common stock, including restricted shares.

3. Reflects shares earned in connection with previously awarded performance share units issued under the Company's Second Amended and Restated 2009 Equity Incentive Plan.

	Lee N. Davis, as attorney-in-fact under Power of Attorney dated January 31, 2024	03/02/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What insider transaction did AVB executive Alaine Susan Walsh report?

Alaine Susan Walsh reported receiving stock-based awards in AvalonBay Communities common stock. She acquired 929 restricted shares and 901 earned performance-based shares, both under the company’s Second Amended and Restated 2009 Equity Incentive Plan, increasing her directly owned share position.

Were the AVB shares received by Alaine Susan Walsh open-market purchases?

No, the reported AVB share acquisitions were not open-market purchases. They were equity awards: a grant of restricted stock and shares earned from performance share units, both issued at no stated purchase price under AvalonBay’s equity incentive plan.

Are the AVB restricted stock awards to Alaine Susan Walsh subject to vesting?

Yes, the 929-share restricted stock award to Alaine Susan Walsh is subject to vesting requirements. The filing notes these shares were granted under AvalonBay’s Second Amended and Restated 2009 Equity Incentive Plan and will vest according to the plan’s terms and applicable award agreement.

What plan governed the AVB stock awards to Alaine Susan Walsh?

Both reported awards were granted under AvalonBay Communities’ Second Amended and Restated 2009 Equity Incentive Plan. This plan covers the restricted stock grant of 929 shares and the 901 shares earned from earlier performance share units awarded to the executive vice president.

How did the Form 4 describe Alaine Susan Walsh’s AVB share ownership after the awards?

The Form 4 states her post-transaction holdings reflect direct ownership of all common shares, including restricted stock. The totals after each transaction incorporate the newly granted and earned shares, indicating her updated direct equity position in AvalonBay Communities.