AvalonBay director awarded 203 deferred stock units

AvalonBay Communities director Terry S. Brown received an award of 203 shares of common stock in the form of Deferred Stock Units under the company’s Second Amended and Restated 2009 Equity Incentive Plan.

Rhea-AI Filing Summary

AvalonBay Communities director Terry S. Brown received an award of 203 shares of common stock in the form of Deferred Stock Units under the company’s Second Amended and Restated 2009 Equity Incentive Plan. These units were granted in lieu of his quarterly cash director fee and will convert into common stock on a one-for-one basis after he ceases to be a director.

After this award, Brown directly owns a total of 19,580.6415 shares of common stock, including all Deferred Stock Units, some of which may be subject to vesting requirements.

Insider Trade Summary

Grant/Award: 203 shares

Grant/Award 1 txn

Insider Brown Terry S.

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock, par value $.01 per share	203	$0.00	$0.00

Holdings After Transaction: Common Stock, par value $.01 per share — 19,580.6415 shares (Direct)

Footnotes (2)

1. F1. Reflects grant of Deferred Stock Units ("Units") under the issuer's Second Amended and Restated 2009 Equity Incentive Plan pursuant to an election previously made by the reporting person to receive Units in lieu of the quarterly cash director's fee otherwise due. The Units will convert into common stock on a one for one basis after the reporting person ceases to be a director of the issuer.
2. F2. 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: 203 units Grant price per unit: $0.00 per share Total shares owned after grant: 19,580.6415 shares +1 more

4 metrics

Deferred Stock Units granted 203 units Director fee election on Common Stock

Grant price per unit $0.00 per share Compensation-related award, not market purchase

Total shares owned after grant 19,580.6415 shares Direct ownership including all Deferred Stock Units

Conversion ratio 1 unit : 1 share Units convert to common stock when no longer a director

Key Terms

Deferred Stock Units, Second Amended and Restated 2009 Equity Incentive Plan, vesting requirements

3 terms

Deferred Stock Units financial

"Reflects grant of Deferred Stock Units ("Units") under the issuer's Second Amended and Restated 2009 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.

Second Amended and Restated 2009 Equity Incentive Plan financial

"under the issuer's Second Amended and Restated 2009 Equity Incentive Plan pursuant to an election"

vesting requirements financial

"including Units, which may be subject to vesting requirements"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did AvalonBay Communities (AVB) report for Terry S. Brown?

AvalonBay Communities reported that director Terry S. Brown received 203 Deferred Stock Units as a stock-based award in lieu of his quarterly cash director fee, increasing his direct holdings to 19,580.6415 shares, including all units.

How many AvalonBay (AVB) shares did Terry S. Brown acquire in this Form 4?

Terry S. Brown acquired 203 shares in the form of Deferred Stock Units. These units are credited under AvalonBay’s equity incentive plan and count toward his total direct holdings reported after the transaction.

At what price were Terry S. Brown’s AvalonBay (AVB) Deferred Stock Units granted?

The 203 Deferred Stock Units granted to Terry S. Brown show a price per share of $0.00. This indicates a compensation-related stock award rather than an open-market purchase, reflecting director fees paid in equity instead of cash.

What is Terry S. Brown’s total AvalonBay (AVB) ownership after this grant?

Following the grant, Terry S. Brown directly owns 19,580.6415 shares of AvalonBay common stock. This total includes all Deferred Stock Units credited to him, some of which may still be subject to vesting requirements under the plan.

When will Terry S. Brown’s AvalonBay (AVB) Deferred Stock Units convert to common stock?

The Deferred Stock Units granted to Terry S. Brown will convert into AvalonBay common stock on a one-for-one basis after he ceases to be a director. Until then, they remain as units credited under the company’s equity incentive plan.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/21/2026 - 04:45 PM Learn about SEC filing dates

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)
05/19/2026

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	05/19/2026		A		203(1)	A	$0	19,580.6415(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 Second Amended and Restated 2009 Equity Incentive Plan pursuant to an election previously made by the reporting person to receive Units in lieu of the quarterly cash director's fee otherwise due. The Units will convert into common stock on a one for 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	05/21/2026
	** 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)