AvalonBay (AVB) EVP Schulman receives restricted and performance stock awards

Rhea-AI Filing Summary

AvalonBay Communities executive vice president and general counsel Edward M. Schulman reported acquiring additional company stock through equity compensation awards. On February 26, 2026, he received 3,325 shares of restricted stock under the Second Amended and Restated 2009 Equity Incentive Plan, which are subject to vesting requirements.

On the same date, he also acquired 5,666 shares earned from previously awarded performance share units under the same plan. Both awards were recorded at a per-share price of $0.00, reflecting non-cash equity grants. After these transactions, Schulman directly owned 26,700.6099 shares of common stock, including restricted shares.

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^*

SCHULMAN EDWARD M

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP-General Counsel

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		3,325(1)	A	$0	21,034.6099(2)	D
Common Stock, par value $.01 per share	02/26/2026		A		5,666(3)	A	$0	26,700.6099(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 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.

	Edward M. Schulman	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 transaction did AvalonBay (AVB) report for Edward M. Schulman?

AvalonBay reported that EVP and general counsel Edward M. Schulman acquired company stock through equity awards. He received restricted shares and shares earned from performance units granted under AvalonBay’s Second Amended and Restated 2009 Equity Incentive Plan.

How many AvalonBay (AVB) shares did Edward M. Schulman acquire in this Form 4?

Edward M. Schulman acquired 3,325 restricted shares and 5,666 shares earned from performance share units. Both awards were reported as non-cash grants with a per-share transaction price of $0.00, reflecting equity compensation rather than open-market purchases.

What is Edward M. Schulman’s AvalonBay (AVB) share ownership after these transactions?

Following the reported awards, Edward M. Schulman directly owned 26,700.6099 AvalonBay common shares. This figure includes all directly held common stock, including restricted shares received under the company’s Second Amended and Restated 2009 Equity Incentive Plan.

Were the AvalonBay (AVB) shares acquired by Edward M. Schulman purchased in the open market?

The shares were not open-market purchases. They represent equity compensation: restricted stock grants and shares earned from performance share units, each reported with a transaction price of $0.00 per share under AvalonBay’s equity incentive plan.

What plan governed the equity awards reported for AvalonBay (AVB) executive Edward M. Schulman?

Both the restricted stock grant and the performance share unit payout were issued under AvalonBay’s Second Amended and Restated 2009 Equity Incentive Plan. The restricted shares are subject to vesting conditions as described in the Form 4 footnotes.

Do the AvalonBay (AVB) restricted shares reported for Edward M. Schulman have vesting requirements?

Yes. The Form 4 notes that the 3,325 restricted shares were granted under AvalonBay’s Second Amended and Restated 2009 Equity Incentive Plan and are subject to vesting requirements, meaning Schulman earns full ownership over time if conditions are met.