AvalonBay (AVB) director granted 1,082 deferred stock units under 2026 plan

Rhea-AI Filing Summary

AvalonBay Communities director Conor C. Flynn received an equity award of 1,082 Deferred Stock Units on May 28, 2026 under the company’s 2026 Equity Incentive Plan. These units are subject to vesting and will convert into common stock one-to-one after he ceases to be a director. Following the award, he directly owns 2,003.2032 shares of common stock, including these units.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Flynn Conor C

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 — 2,003.203 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 Transaction price per unit: $0.00 per unit Total shares after transaction: 2,003.2032 shares +1 more

4 metrics

Deferred Stock Units granted 1,082 units Equity award on May 28, 2026

Transaction price per unit $0.00 per unit Compensation grant, not market purchase

Total shares after transaction 2,003.2032 shares Direct ownership including units after award

Security type Common Stock, $0.01 par value Underlying security for units

Key Terms

Deferred Stock Units, 2026 Equity Incentive Plan, vesting requirements, convert into common stock on a one to one basis

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 on a one to one basis 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^*

Flynn Conor C

(Last) (First) (Middle)

C/O AVALONBAY COMMUNITIES, INC.

4040 WILSON BLVD

(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	2,003.2032(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 Lee N. Davis under Power of Attorney dated as of November 10, 2025	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 Conor C. Flynn report on this Form 4?

Conor C. Flynn reported receiving 1,082 Deferred Stock Units as an equity award. These units were granted under AvalonBay’s 2026 Equity Incentive Plan and increase his direct holdings to 2,003.2032 common shares, including the units, all subject to the plan’s terms.

How many AvalonBay (AVB) Deferred Stock Units were granted to the director?

The director received an award of 1,082 Deferred Stock Units. Each unit represents the right to receive one share of AvalonBay common stock in the future, subject to vesting conditions and conversion when he is no longer serving as a director.

What are the vesting and conversion terms for Conor C. Flynn’s AvalonBay (AVB) units?

The granted Deferred Stock Units are subject to vesting requirements under the 2026 Equity Incentive Plan. After Conor C. Flynn ceases to be a director, the units will convert into AvalonBay common stock on a one-to-one basis, delivering actual shares at that time.

How many AvalonBay (AVB) shares does Conor C. Flynn own after this Form 4 transaction?

After the reported transaction, Conor C. Flynn directly owns 2,003.2032 AvalonBay common shares. This total includes all common stock and the Deferred Stock Units reported, which may still be subject to vesting conditions before they convert into actual shares.

Was there any cash paid or sale price in this AvalonBay (AVB) Form 4 transaction?

The reported grant shows a transaction price of $0.00 per share, indicating a compensation-related award rather than a market purchase. The units were issued under the 2026 Equity Incentive Plan as part of director compensation, not an open-market stock trade.

Does this AvalonBay (AVB) Form 4 indicate a stock purchase or a stock sale by the director?

The filing reflects an acquisition through a grant, not a market trade. It is coded as a grant or award (Code A), meaning the director received 1,082 Deferred Stock Units as compensation and did not buy or sell shares in the open market.