AvalonBay Communities (NYSE: AVB) CIO reports equity awards of 20,067 shares

Rhea-AI Filing Summary

AvalonBay Communities Chief Investment Officer Matthew H. Birenbaum reported equity awards in company stock. On February 26, 2026, he acquired 7,926 shares of restricted common stock and 12,141 shares earned from previously awarded performance share units under AvalonBay’s Second Amended and Restated 2009 Equity Incentive Plan.

The restricted shares are subject to vesting requirements. After these awards, Birenbaum directly owns 92,874.8925 shares of AvalonBay common stock, including restricted shares counted in his direct holdings.

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^*

Birenbaum Matthew H.

(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)
	Chief Investment Officer

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		7,926(1)	A	$0	80,733.8925(2)	D
Common Stock, par value $.01 per share	02/26/2026		A		12,141(3)	A	$0	92,874.8925(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.

	By Edward M. Schulman under Power of Attorney dated as of October 14, 2011	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 AvalonBay (AVB) CIO Matthew Birenbaum report?

Matthew Birenbaum reported receiving 7,926 restricted shares and 12,141 shares earned from performance share units on February 26, 2026. These equity awards are in AvalonBay common stock and were granted under the company’s Second Amended and Restated 2009 Equity Incentive Plan.

Were Matthew Birenbaum’s AVB Form 4 transactions open-market purchases?

No, the reported AvalonBay transactions were equity awards, not open-market purchases. They reflect a grant of restricted stock and shares earned from performance share units, both under the company’s equity incentive plan, at a reported price of $0.0000 per share to the executive.

How many AvalonBay (AVB) shares does Matthew Birenbaum own after these awards?

After the reported awards, Matthew Birenbaum directly owns 92,874.8925 AvalonBay common shares. This total includes all directly held stock as well as restricted shares, as specifically noted, and reflects his ownership immediately following the February 26, 2026 equity transactions.

What compensation plan governs the AVB shares granted to Matthew Birenbaum?

The reported AvalonBay awards were granted under the Second Amended and Restated 2009 Equity Incentive Plan. This plan covers restricted stock and performance share units, with the granted restricted shares subject to vesting requirements before they fully become unrestricted common stock.

Did Matthew Birenbaum pay cash for the AvalonBay shares reported on this Form 4?

No, the Form 4 shows a transaction price of $0.0000 per share for both awards. The shares were granted as part of AvalonBay’s equity compensation program, rather than purchased in the market, aligning with typical restricted stock and performance share unit settlements.