AvalonBay (AVB) director granted 1,082 deferred stock units as board compensation

Rhea-AI Filing Summary

AvalonBay Communities director Christopher B. Howard received a stock-based award. He was granted 1,082 Deferred Stock Units of common stock under the company’s 2026 Equity Incentive Plan at no cash cost. These units are subject to vesting and convert into common shares on a one-for-one basis after he ceases to be a director.

Following this grant, Howard directly owns 7,525.639 shares of common stock, including these units, some of which may still be subject to vesting requirements. This filing reflects routine equity compensation rather than an open-market purchase or sale.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Howard Christopher B.

Role null

Type	Security	Shares	Price	Value
Grant/Award	Common Stock, par value $.01 per share	1,082	$0.00	--

Holdings After Transaction: Common Stock, par value $.01 per share — 7,525.639 shares (Direct, null)

Footnotes (1)

1. Reflects grant of Deferred Stock Units ("Units") under the issuer's 2026 Equity Incentive Plan, which Units are subject to vesting requirements. The Units will convert into common stock on a one to 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: 1,082 units Shares owned after transaction: 7,525.639 shares Grant price per unit: $0.00 per unit +1 more

4 metrics

Deferred Stock Units granted 1,082 units Grant under 2026 Equity Incentive Plan on May 28, 2026

Shares owned after transaction 7,525.639 shares Direct ownership including units following the grant

Grant price per unit $0.00 per unit Equity award, non-cash compensation

Transaction code A Grant, award, or other acquisition of non-derivative security

Key Terms

Deferred Stock Units, 2026 Equity Incentive Plan, vesting requirements, convert into common stock

4 terms

Deferred Stock Units financial

"Reflects grant of Deferred Stock Units ("Units") under the issuer's 2026 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.

2026 Equity Incentive Plan financial

"Reflects grant of Deferred Stock Units ("Units") under the issuer's 2026 Equity Incentive Plan"

vesting requirements financial

"which Units are subject to vesting requirements. The Units will convert into common stock"

convert into common stock financial

"The Units will convert into common stock on a one to one basis"

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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^*

Howard Christopher B.

(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)
05/28/2026

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	05/28/2026		A		1,082(1)	A	$0	7,525.639(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 2026 Equity Incentive Plan, which Units are subject to vesting requirements. The Units will convert into common stock on a one to 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 May 20, 2021	06/01/2026
	** 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 did AvalonBay Communities (AVB) disclose in this Form 4 for Christopher B. Howard?

AvalonBay Communities reported that director Christopher B. Howard received 1,082 Deferred Stock Units as an equity award. These units were granted at no cash cost and are part of his director compensation, rather than an open-market stock transaction.

How many AvalonBay Communities (AVB) shares does Christopher B. Howard hold after this grant?

After the award, Christopher B. Howard directly owns 7,525.639 shares of AvalonBay common stock. This figure includes the newly granted Deferred Stock Units and other shares, some of which may remain subject to vesting requirements under the company’s equity plans.

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

The Deferred Stock Units are granted under AvalonBay’s 2026 Equity Incentive Plan and are subject to vesting. Each unit converts into one share of common stock after Christopher B. Howard ceases to be a director, providing deferred, equity-based compensation rather than immediate share delivery.

Is the AvalonBay (AVB) Form 4 transaction an open-market buy or sell?

The transaction is not an open-market buy or sell. It is a grant of 1,082 Deferred Stock Units to director Christopher B. Howard as compensation, recorded at a price of $0.00 per unit, reflecting a stock-based award rather than a cash purchase or sale.

How does this AvalonBay (AVB) equity grant affect the director’s ownership stake?

The grant modestly increases Christopher B. Howard’s equity stake by 1,082 units, bringing his direct holdings to 7,525.639 shares. Because the units vest over time and convert after board service ends, they represent long-term, deferred alignment with shareholder interests.