AvalonBay (NYSE: AVB) stake swapped into Vivmark at 2.793-to-1
Rhea-AI Filing Summary
AVALONBAY COMMUNITIES INC reported that director Charles E. Mueller Jr. disposed of 8,623.5265 shares of AVB common stock and deferred stock units in a transaction coded as a disposition to issuer. This occurred in connection with a merger of equals in which AVB merged into a subsidiary of Equity Residential, which then changed its name to Vivmark Residential. At the merger’s effective time, each AVB share and deferred stock unit held by the reporting person was automatically converted into the right to receive 2.793 Vivmark Residential common shares per AVB share or unit, plus cash in lieu of any fractional share.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 8,623.5265 shares
Net Sell
1 txn
Insider
MUELLER CHARLES E JR
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | Common Stock, par value $.01 per share F1, F2, F3 | 8,623.5265 | -- | -- |
Holdings After Transaction:
Common Stock, par value $.01 per share — 0 shares (Direct)
Footnotes (3)
- F1. Pursuant to the Agreement and Plan of Merger, dated as of May 20, 2026 (the "Merger Agreement"), by and among AvalonBay Communities, Inc., a Maryland corporation ("AVB"), Equity Residential, a Maryland real estate investment trust ("EQR"), ERP Operating Limited Partnership, an Illinois limited partnership, and Canopy Merger Sub LLC, a Maryland limited liability company ("Merger Sub"), AVB and EQR combined in a merger of equals on August 17, 2026, with AVB merging with and into Merger Sub, with Merger Sub surviving as a wholly owned subsidiary of EQR (the "Merger"). In connection with the Merger, EQR changed its name to Vivmark Residential.
- F2. At the effective time of the Merger (the "Effective Time"), each issued and outstanding share of common stock, par value $0.01 per share ("AVB Common Stock"), of AVB and deferred stock unit held by the Reporting Person, respectively, was automatically converted into the right to receive 2.793 (the "Exchange Ratio") common shares of beneficial interest, $0.01 par value per share ("EQR Common Shares"), of EQR, plus, in the case of AVB Common Stock, the right to receive cash in lieu of fractional EQR Common Shares, if any, into which such AVB Common Stock would have been converted. On August 14, 2026, the closing price of AVB Common Stock was $184.06 per share and the closing price of EQR Common Shares was $65.97 per share.
- F3. This total includes shares of AVB Common Stock and deferred stock units.
Key Figures
Shares disposed: 8,623.5265 shares
Exchange Ratio: 2.793 shares
AVB closing price: $184.06 per share
+2 more
5 metrics
Shares disposed
8,623.5265 shares
Total AVB common stock and deferred stock units disposed in issuer transaction
Exchange Ratio
2.793 shares
EQR (Vivmark Residential) common shares per AVB share or deferred stock unit
AVB closing price
$184.06 per share
Closing price of AVB common stock on August 14, 2026
EQR closing price
$65.97 per share
Closing price of EQR common shares on August 14, 2026
Post-transaction AVB holdings
0.0000 shares
Direct AVB common stock and deferred stock unit holdings after disposition
Key Terms
Agreement and Plan of Merger, merger of equals, Exchange Ratio, deferred stock unit, +1 more
5 terms
Agreement and Plan of Merger regulatory
"Pursuant to the Agreement and Plan of Merger, dated as of May 20, 2026"
An Agreement and Plan of Merger is a formal document where two companies agree to combine into one, outlining how the process will happen. It’s like a step-by-step plan for merging, and it matters because it shows both sides have agreed on the details before the official transition takes place.
merger of equals financial
"AVB and EQR combined in a merger of equals on August 17, 2026"
A merger of equals is when two companies of similar size and value combine into a single business with shared ownership and leadership, rather than one company buying the other. Investors care because it reshuffles who owns and controls the combined company, aims to cut duplicate costs and strengthen market position, but also brings integration risks that can affect future profits and each company’s stock value.
Exchange Ratio financial
"was automatically converted into the right to receive 2.793 (the "Exchange Ratio") common shares"
The exchange ratio is the number used to decide how many shares of one company you get for each share you own in another company during a merger or acquisition. It’s like a recipe that tells you how to swap shares fairly, ensuring both companies’ values are balanced. This ratio matters because it determines how ownership divides between the companies' shareholders.
deferred stock unit financial
"each issued and outstanding share of common stock ... and deferred stock unit held"
A deferred stock unit (DSU) is a promise from a company to give an employee or director the value of a share at a future date, paid in actual shares or cash when certain conditions are met (such as retirement or a set date). Think of it like a gift card that converts to company stock later; it aligns pay with long‑term performance and can affect future share count, compensation expense and potential cash needs, so investors watch DSUs for their impact on dilution and company finances.
cash in lieu of fractional financial
"plus ... the right to receive cash in lieu of fractional EQR Common Shares"
FAQ
What insider transaction did AVB director Charles E. Mueller Jr. report on this Form 4 for AVB?
He reported a disposition to issuer of 8,623.5265 AVB common shares and deferred stock units. The transaction was tied to a merger of equals where AVB combined with Equity Residential, later renamed Vivmark Residential.
What were the reference market prices for AVB and Equity Residential before the merger conversion?
On August 14, 2026, AVB’s closing price was $184.06 per share and Equity Residential’s closing price was $65.97 per common share. These prices are cited as market references around the time the 2.793 share exchange ratio was applied.
AI-generated analysis. How Rhea-AI works. Not financial advice.
