AvalonBay (AVB) director takes 176 deferred stock units instead of cash fee

Rhea-AI Filing Summary

AvalonBay Communities director Charles E. Mueller Jr. received an award of 176 Deferred Stock Units in the form of common stock under the company’s equity incentive plan. The award was taken in lieu of his quarterly cash director fee and carried a price of $0.00 per share.

The units convert into common stock on a one-for-one basis after he ceases to be a director. Following this grant, he directly owns a total of 7,474.4718 shares of common stock, including these units, some of which may be subject to vesting requirements.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider MUELLER CHARLES E JR

Role null

Type	Security	Shares	Price	Value
Grant/Award	Common Stock, par value $.01 per share	176	$0.00	--

Holdings After Transaction: Common Stock, par value $.01 per share — 7,474.472 shares (Direct, null)

Footnotes (1)

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. 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: 176 units Grant price per share: $0.00 per share Total shares owned after grant: 7,474.4718 shares

3 metrics

Deferred Stock Units granted 176 units Grant of Deferred Stock Units in lieu of quarterly cash director fee

Grant price per share $0.00 per share Price for Deferred Stock Units awarded to director

Total shares owned after grant 7,474.4718 shares Direct ownership of AvalonBay common stock including units after transaction

Key Terms

Deferred Stock Units, Second Amended and Restated 2009 Equity Incentive Plan, vesting requirements, quarterly cash director's fee

4 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.

Second Amended and Restated 2009 Equity Incentive Plan financial

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

vesting requirements financial

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

quarterly cash director's fee financial

"election previously made by the reporting person to receive Units in lieu of the quarterly cash director's fee otherwise due"

Form 4 Insider Transactions: What Each Field Means →

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^*

MUELLER CHARLES E JR

(Last) (First) (Middle)

C/O AVALONBAY COMMUNITIES, INC.

4040 WILSON BOULEVARD STE 1000

(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		176(1)	A	$0	7,474.4718(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 Edward M. Schulman under Power of Attorney dated as of October 28, 2022	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)

FAQ

What insider transaction did AvalonBay Communities (AVB) report for Charles E. Mueller Jr.?

AvalonBay Communities reported that director Charles E. Mueller Jr. received 176 Deferred Stock Units of common stock. These units were granted as an equity award in lieu of his quarterly cash director fee, with no cash price per share associated with the grant.

How many AvalonBay (AVB) shares does Charles E. Mueller Jr. hold after this Form 4 transaction?

After the reported transaction, Charles E. Mueller Jr. directly owns 7,474.4718 AvalonBay common shares. This figure includes the newly granted Deferred Stock Units and reflects all directly held common stock, some of which may still be subject to vesting conditions under the equity incentive plan.

What are the terms of the Deferred Stock Units granted to the AvalonBay (AVB) director?

The 176 Deferred Stock Units granted to the AvalonBay director convert into common stock on a one-for-one basis after he ceases to be a director. The units were received instead of a quarterly cash director fee and may be subject to vesting requirements before settlement.

Did Charles E. Mueller Jr. buy or sell AvalonBay (AVB) shares in the open market?

The Form 4 shows no open-market buying or selling by Charles E. Mueller Jr. Instead, he acquired 176 Deferred Stock Units as a compensation grant valued at $0.00 per share, reflecting an award rather than a market purchase or sale transaction.

Why did the AvalonBay (AVB) director receive Deferred Stock Units instead of cash?

According to the filing, the director had previously elected to receive Deferred Stock Units in lieu of his quarterly cash director fee. This election shifts his compensation into equity that converts to common stock after board service ends, aligning part of his pay with shareholder interests.