[Form 4] AVALONBAY COMMUNITIES INC Insider Trading Activity

Rhea-AI Filing Summary

AvalonBay Communities director Christopher B. Howard received an equity-based fee for board service. He was granted 135 shares of common stock in the form of Deferred Stock Units under the company’s equity incentive plan, in lieu of his quarterly cash director fee. These units will convert into common stock on a one-for-one basis after he ceases to be a director. Following this grant, he directly owns 6,443.639 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 Howard Christopher B.

Role null

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

Holdings After Transaction: Common Stock, par value $.01 per share — 6,443.639 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.

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)
05/19/2026

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	6,443.639(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 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 May 20, 2021	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 did AvalonBay (AVB) director Christopher B. Howard report in this Form 4?

Christopher B. Howard reported receiving 135 Deferred Stock Units as part of his director compensation. These units represent common stock granted under AvalonBay’s equity incentive plan, replacing a quarterly cash director fee and increasing his total direct holdings to 6,443.639 shares.

How many AvalonBay (AVB) shares does the director hold after this transaction?

After the grant, Christopher B. Howard directly owns 6,443.639 shares of AvalonBay common stock. This total includes the newly granted Deferred Stock Units as well as any prior stock and units that may still be subject to vesting requirements under the incentive plan.

What are Deferred Stock Units in the AvalonBay (AVB) Form 4 filing?

Deferred Stock Units are equity awards that mirror common stock but settle in actual shares later. For AvalonBay, the units granted to the director will convert into common stock on a one-for-one basis after he ceases serving as a director, aligning compensation with long-term shareholder interests.

Why did the AvalonBay (AVB) director receive stock units instead of cash?

The director had previously elected to receive Deferred Stock Units in lieu of his quarterly cash director fee. This election shifts his compensation from immediate cash to equity that converts into common stock later, tying his compensation more closely to AvalonBay’s long-term share performance.

Does this AvalonBay (AVB) Form 4 involve an open-market stock purchase or sale?

No, the Form 4 reflects a grant of 135 Deferred Stock Units as compensation, not an open-market trade. The units were awarded at no cash cost per share and will convert into common stock in the future, without any reported current market purchase or sale.