AvalonBay Communities (NYSE: AVB) director receives 600 deferred stock units award

Rhea-AI Filing Summary

AvalonBay Communities Inc. reported a Form 4 insider transaction for a company director. On 12/09/2025, the director received 600 Deferred Stock Units of common stock under AvalonBay’s Second Amended and Restated 2009 Equity Incentive Plan at a stated price of $0, reflecting an equity award rather than an open-market purchase.

The filing explains that these Deferred Stock Units are subject to vesting requirements and will convert into common stock on a one-to-one basis after the director ceases to serve on the board. Following this grant, the director beneficially owns 632 shares of common stock, including the Deferred Stock Units, all held as direct ownership.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Flynn Conor C

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock, par value $.01 per share	600	$0.00	--

Holdings After Transaction: Common Stock, par value $.01 per share — 632 shares (Direct)

Footnotes (1)

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

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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 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)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
12/09/2025

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	12/09/2025		A		600(1)	A	$0	632(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, 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	12/10/2025
	** 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.

FAQ

What insider transaction did AvalonBay Communities (AVB) report in this Form 4?

The Form 4 reports that a director of AvalonBay Communities Inc. (AVB) received an award of 600 Deferred Stock Units of common stock on 12/09/2025.

How many AvalonBay (AVB) shares does the director own after this transaction?

After the reported transaction, the director beneficially owns 632 shares of AvalonBay common stock, including Deferred Stock Units, all held directly.

What are the terms of the Deferred Stock Units granted by AvalonBay (AVB)?

The Deferred Stock Units are granted under AvalonBay’s Second Amended and Restated 2009 Equity Incentive Plan, are subject to vesting requirements, and will convert into common stock on a one-to-one basis after the director ceases to be a director.

Was the AvalonBay (AVB) director transaction an open-market purchase or a grant?

The transaction reflects a grant of 600 Deferred Stock Units at a price of $0, indicating an equity award under the company’s incentive plan rather than an open-market trade.

Is the AvalonBay (AVB) director a 10% owner of the company?

The filing identifies the reporting person’s relationship as a Director; the 10% owner box is not marked, so the individual is not reported as a 10% owner.