AvalonBay Communities (NYSE: AVB) CEO reports new stock and option grants

Rhea-AI Filing Summary

AvalonBay Communities CEO and President Benjamin Schall reported equity compensation awards. On February 26, 2026, he acquired 21,772 employee stock options and 9,586 shares of restricted stock under the company’s Second Amended and Restated 2009 Equity Incentive Plan, both at a stated price of $0.00 per share.

The filing also shows an additional 33,996 common shares earned from previously awarded performance share units. Following these awards, Schall directly owned 118,680.2339 common shares. The new options vest in three equal annual installments, with the first installment scheduled to vest on March 1, 2027, and the document notes other prior option grants vesting annually beginning between March 1, 2023 and March 1, 2026.

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^*

Schall Benjamin

(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)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	CEO & 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		9,586(1)	A	$0	84,684.2339(2)	D
Common Stock, par value $.01 per share	02/26/2026		A		33,996(3)	A	$0	118,680.2339(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
Employee Stock Options (Right to Buy)	$179.67	02/26/2026		A		21,772(4)		03/01/2027(5)	02/26/2036	Common Stock	21,772	$0	21,772	D
Employee Stock Options (Right to Buy)	$221.58							03/01/2026(6)	02/26/2035	Common Stock	9,473		9,473	D
Employee Stock Options (Right to Buy)	$172.11							03/01/2025(7)	02/13/2034	Common Stock	12,651		12,651	D
Employee Stock Options (Right to Buy)	$177.83							03/01/2024(8)	02/23/2033	Common Stock	10,073		10,073	D
Employee Stock Options (Right to Buy)	$236.14							03/01/2023(9)	02/17/2032	Common Stock	8,304		8,304	D

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.

4. Reflects grant of options under the Company's Second Amended and Restated 2009 Equity Incentive Plan.

5. These options vest in three equal annual installments, with the first installment vesting on 3/1/2027.

6. These options vest in three equal annual installments, with the first installment having vested on 3/1/2026.

7. These options vest in three equal annual installments, with the first installment having vested on 3/1/2025.

8. These options vest in three equal annual installments, with the first installment having vested on 3/1/2024.

9. These options vest in three equal annual installments, with the first installment having vested on 3/1/2023.

	Edward M. Schulman, as attorney-in-fact under Power of Attorney dated January 19, 2021	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 transactions did AVB CEO Benjamin Schall report on this Form 4?

Benjamin Schall reported grants of 21,772 employee stock options, 9,586 restricted shares, and 33,996 common shares earned from performance share units, all dated February 26, 2026, as part of AvalonBay’s equity incentive plan.

How many AvalonBay (AVB) common shares does Benjamin Schall own after these grants?

After the reported equity awards, Benjamin Schall directly owns 118,680.2339 shares of AvalonBay common stock. This figure includes both unrestricted and restricted shares as stated in the Form 4 footnotes describing his direct ownership.

What type of equity awards did AvalonBay (AVB) grant to its CEO Benjamin Schall?

AvalonBay granted Benjamin Schall employee stock options, restricted stock, and shares earned from performance share units. All awards were made under the company’s Second Amended and Restated 2009 Equity Incentive Plan as part of his compensation.

When do Benjamin Schall’s new AvalonBay (AVB) stock options start vesting?

The newly granted options to Benjamin Schall vest in three equal annual installments, with the first installment scheduled to vest on March 1, 2027. Other option grants referenced in the filing began vesting annually between 2023 and 2026.

Were Benjamin Schall’s AvalonBay (AVB) Form 4 transactions open-market buys or compensation grants?

The transactions reported were compensation grants, not open-market purchases. The Form 4 classifies them as grants or awards with transaction code A and a stated price of $0.00 per share under AvalonBay’s equity incentive plan.