AvalonBay (NYSE: AVB) director receives 1,082 deferred stock units

Rhea-AI Filing Summary

AvalonBay Communities director Terry S. Brown received an equity grant rather than buying shares on the market. He was awarded 1,082 Deferred Stock Units under the company’s 2026 Equity Incentive Plan, at no cash cost, as part of his director compensation.

The units are subject to vesting requirements and will 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 20,662.6415 common shares, including these and other units.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Brown Terry S.

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 — 20,662.642 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 Total shares after transaction: 20,662.6415 shares Grant price per share: $0.0000 per share

3 metrics

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

Total shares after transaction 20,662.6415 shares Direct ownership following reported grant, including units

Grant price per share $0.0000 per share Compensation award, not an open-market purchase

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"

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^*

Brown Terry S.

(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	20,662.6415(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 November 26, 2014	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 (AVB) director Terry S. Brown report on this Form 4?

Terry S. Brown reported receiving 1,082 Deferred Stock Units as director compensation. These units were granted under AvalonBay’s 2026 Equity Incentive Plan and did not involve an open-market stock purchase or sale, making this a routine equity award rather than a trading decision.

How many AvalonBay (AVB) shares does Terry S. Brown hold after this grant?

After the grant, Terry S. Brown directly holds 20,662.6415 AvalonBay common shares. This total includes both regular common stock and Deferred Stock Units, some of which may still be subject to vesting conditions under the company’s equity incentive arrangements for directors.

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

The grant consists of 1,082 Deferred Stock Units subject to vesting requirements. Each unit will convert into one share of AvalonBay common stock after Terry S. Brown ceases to be a director, meaning the economic benefit is deferred until his board service ends.

Did Terry S. Brown buy or sell AvalonBay (AVB) stock in the open market?

No open-market transactions occurred in this filing. The Form 4 shows only a grant coded “A,” meaning a grant, award, or other acquisition, with a zero transaction price per share, reflecting compensation rather than a discretionary stock purchase or sale.

Under which plan were the AvalonBay (AVB) Deferred Stock Units granted?

The units were granted under AvalonBay’s 2026 Equity Incentive Plan. This plan provides for equity-based awards to participants, and in this case, Terry S. Brown received Deferred Stock Units as part of his director compensation structure, subject to stated vesting terms.