[Form 4] MID AMERICA APARTMENT COMMUNITIES INC. Insider Trading Activity
Deborah H. Caplan, a director of Mid America Apartment Communities, reported transactions dated 09/23/2025. The Form 4 shows a disposition of 3,970 shares of common stock (Table I) and an acquisition of 102 phantom stock units (Table II) with an indicated economic value of $0 at grant and an underlying common stock price shown as $141.12. Following the reported transactions the filing lists 1,060.174 shares beneficially owned by the reporting person in a direct form. The phantom stock units are described as economically equivalent to common shares and payable in two equal annual installments beginning within 90 days after the reporting person ceases to serve as a director, payable in cash or common stock at the holder's election.
Deborah H. Caplan, una direttrice di Mid America Apartment Communities, ha riportato operazioni datate 23/09/2025. Il Modulo 4 mostra una disposizione di 3.970 azioni ordinarie (Tabella I) e un'acquisizione di 102 unità di azioni fantasma (Tabella II) con un valore economico di $0 al conferimento e un prezzo sottostante delle azioni ordinarie mostrato come $141,12. A seguito delle operazioni riportate, la dichiarazione indica che la persona riportante possiede direttamente 1.060.174 azioni. Le unità di azioni fantasma sono descritte come economicamente equivalenti alle azioni ordinarie e sono pagabili in due rate annuali uguali, iniziano entro 90 giorni dalla cessazione della carica di direttore e sono pagabili in contanti o in azioni ordinarie a scelta del detentore.
Deborah H. Caplan, una Directora de Mid America Apartment Communities, reportó transacciones con fecha 23/09/2025. El Formulario 4 muestra una disposición de 3.970 acciones comunes (Tabla I) y una adquisición de 102 unidades de acciones fantasma (Tabla II) con un valor económico indicado de $0 al otorgarse y un precio subyacente de las acciones comunes mostrado como $141,12. Tras las transacciones reportadas, la declaración indica que la persona reportante posee directamente 1.060.174 acciones. Las unidades de acciones fantasma se describen como económicamente equivalentes a las acciones comunes y se pagarán en dos cuotas anuales iguales, dentro de los 90 días siguientes a que la persona reportante deje de ser directora, pagaderas en efectivo o en acciones comunes a elección del titular.
Deborah H. Caplan은 Mid America Apartment Communities의 이사로서 2025-09-23로 기재된 거래를 보고했습니다. 폼 4는 보통주 3,970주 처분(표 I)과 102개의 팬텀 주식 단위 취득(표 II)을 보여 주며 부여 시 경제적 가치는 $0이고 기초 보통주 가격은 $141.12로 표시됩니다. 보고된 거래 이후, 보고인은 직접 보유하는 1,060,174주의 주식을 보유한 것으로 기재됩니다. 팬텀 주식 유닛은 보통주와 경제적으로 동일한 것으로 설명되며, 이사회에서 물러난 후 90일 이내에 두 차례의 연간 분할로 현금 또는 보통주로 지급됩니다.
Deborah H. Caplan, directrice de Mid America Apartment Communities, a signalé des transactions datées du 23/09/2025. Le Formulaire 4 indique une cession de 3 970 actions ordinaires (Tableau I) et une acquisition de 102 unités d’actions fantômes (Tableau II), avec une valeur économique indiquée de 0 $ lors de l’attribution et un cours sous-jacent des actions ordinaires affiché à 141,12 $. Suite à ces transactions, le dossier indique que la personne déclarante détient directement 1 060 174 actions. Les unités d’actions fantômes sont décrites comme économiquement équivalentes aux actions ordinaires et seront versées en deux échéances annuelles égales, débutant dans les 90 jours suivant la cessation des fonctions de directrice, en espèces ou en actions ordinaires au choix du titulaire.
Deborah H. Caplan, eine Direktorin von Mid America Apartment Communities, meldete Transaktionen mit dem Datum 23.09.2025. Das Formular 4 weist eine Veräußerung von 3.970 Stammaktien (Tabelle I) und einen Erwerb von 102 Phantomaktien-Einheiten (Tabelle II) aus, mit einem wirtschaftlichen Wert von 0 $ bei der Gewährung und einem zugrunde liegenden Preis der Stammaktien von 141,12 $. Nach den gemeldeten Transaktionen wird die direkt gehaltene 1.060.174-Aktien-Position der meldenden Person ausgewiesen. Die Phantomaktien-Einheiten werden als wirtschaftlich äquivalent zu Stammaktien beschrieben und sind in zwei gleichen jährlichen Raten zahlbar, beginnend innerhalb von 90 Tagen nach dem Ausscheiden der meldepflichtigen Person als Direktor, bar oder in Stammaktien zahlbar nach Wahl des Inhabers.
Deborah H. Caplan، مديرة في Mid America Apartment Communities، أبلغت عن معاملات بتاريخ 23/09/2025. يُظهر النموذج 4 إجراء تصريف 3,970 سهماً عادياً (الجدول I) وشراء 102 وحدة أسهم وهمية (الجدول II)، مع قيمة اقتصادية مُعلَن عنها بـ 0 دولار عند المنح وسعر السهم الأساسي يظهر كـ $141.12. عقب المعاملات المبلغ عنها، يورد الإقرار أن الشخص المبلغ يمتلك مباشرةً 1,060,174 سهماً من الأسهم. وتوصف وحدات الأسهم الوهمية بأنها مكافئة اقتصادياً للأسهم العادية، وهي قابلة للدفع على دفعتين سنويتين متساويتين، بدايةً من 90 يوماً بعد انتهاء عمل الشخص المبلغ كمدير، وتدفع إما نقداً أو أسهماً عادية وفق اختيار الحائز.
Deborah H. Caplan，Mid America Apartment Communities 的董事，报告了日期为 2025-09-23 的交易。表格 4 显示普通股的处置 3,970 股（表 I）和 102 股幻影股票单位（表 II）的取得，授予时的经济价值标注为 $0，基础普通股价格显示为 $141.12。在所报交易之后，申报人直接拥有的股票数量为 1,060,174 股。幻影股票单位被描述为在经济上等同于普通股，且在申报人不再担任董事后的 90 天内分两期等额支付，可以选择以现金或普通股方式支付给持有者。
- Director compensation granted via 102 phantom stock units, providing deferred alignment with shareholder value
- Phantom units pay in cash or stock in two installments, offering flexibility to the reporting person
- Disposition of 3,970 common shares reducing the reporting person’s direct holdings
- Filing shows modest remaining ownership of 1,060.174 shares following the transactions
Insights
TL;DR: Routine director compensation grant with an associated share disposition; governance implications appear standard and non-disruptive.
The reporting shows a director-level compensation action combined with a separate sale/disposition of common stock. The 102 phantom units are structured as deferred compensation payable in two installments after service ends, which aligns with common director retention practices. The 3,970-share disposition is disclosed under Section 16 and does not, by itself, indicate a governance change or a related-party transaction beyond normal insider trading disclosures. No amendments or additional restrictions are disclosed in the filing.
TL;DR: Transaction mix (sale plus phantom grant) looks like routine liquidity plus deferred compensation; modest in scale relative to large-cap REIT holdings.
The Form 4 reports a sale of 3,970 common shares and the receipt of 102 phantom stock units with underlying value referenced at $141.12 per share. The filing lists 1,060.174 shares held after the transactions. These items are typical Section 16 disclosures: a director converting compensation into a deferred payout vehicle while trimming an equity position. The filing provides no indication of material company developments or change in control.
Deborah H. Caplan, una direttrice di Mid America Apartment Communities, ha riportato operazioni datate 23/09/2025. Il Modulo 4 mostra una disposizione di 3.970 azioni ordinarie (Tabella I) e un'acquisizione di 102 unità di azioni fantasma (Tabella II) con un valore economico di $0 al conferimento e un prezzo sottostante delle azioni ordinarie mostrato come $141,12. A seguito delle operazioni riportate, la dichiarazione indica che la persona riportante possiede direttamente 1.060.174 azioni. Le unità di azioni fantasma sono descritte come economicamente equivalenti alle azioni ordinarie e sono pagabili in due rate annuali uguali, iniziano entro 90 giorni dalla cessazione della carica di direttore e sono pagabili in contanti o in azioni ordinarie a scelta del detentore.
Deborah H. Caplan, una Directora de Mid America Apartment Communities, reportó transacciones con fecha 23/09/2025. El Formulario 4 muestra una disposición de 3.970 acciones comunes (Tabla I) y una adquisición de 102 unidades de acciones fantasma (Tabla II) con un valor económico indicado de $0 al otorgarse y un precio subyacente de las acciones comunes mostrado como $141,12. Tras las transacciones reportadas, la declaración indica que la persona reportante posee directamente 1.060.174 acciones. Las unidades de acciones fantasma se describen como económicamente equivalentes a las acciones comunes y se pagarán en dos cuotas anuales iguales, dentro de los 90 días siguientes a que la persona reportante deje de ser directora, pagaderas en efectivo o en acciones comunes a elección del titular.
Deborah H. Caplan은 Mid America Apartment Communities의 이사로서 2025-09-23로 기재된 거래를 보고했습니다. 폼 4는 보통주 3,970주 처분(표 I)과 102개의 팬텀 주식 단위 취득(표 II)을 보여 주며 부여 시 경제적 가치는 $0이고 기초 보통주 가격은 $141.12로 표시됩니다. 보고된 거래 이후, 보고인은 직접 보유하는 1,060,174주의 주식을 보유한 것으로 기재됩니다. 팬텀 주식 유닛은 보통주와 경제적으로 동일한 것으로 설명되며, 이사회에서 물러난 후 90일 이내에 두 차례의 연간 분할로 현금 또는 보통주로 지급됩니다.
Deborah H. Caplan, directrice de Mid America Apartment Communities, a signalé des transactions datées du 23/09/2025. Le Formulaire 4 indique une cession de 3 970 actions ordinaires (Tableau I) et une acquisition de 102 unités d’actions fantômes (Tableau II), avec une valeur économique indiquée de 0 $ lors de l’attribution et un cours sous-jacent des actions ordinaires affiché à 141,12 $. Suite à ces transactions, le dossier indique que la personne déclarante détient directement 1 060 174 actions. Les unités d’actions fantômes sont décrites comme économiquement équivalentes aux actions ordinaires et seront versées en deux échéances annuelles égales, débutant dans les 90 jours suivant la cessation des fonctions de directrice, en espèces ou en actions ordinaires au choix du titulaire.
Deborah H. Caplan, eine Direktorin von Mid America Apartment Communities, meldete Transaktionen mit dem Datum 23.09.2025. Das Formular 4 weist eine Veräußerung von 3.970 Stammaktien (Tabelle I) und einen Erwerb von 102 Phantomaktien-Einheiten (Tabelle II) aus, mit einem wirtschaftlichen Wert von 0 $ bei der Gewährung und einem zugrunde liegenden Preis der Stammaktien von 141,12 $. Nach den gemeldeten Transaktionen wird die direkt gehaltene 1.060.174-Aktien-Position der meldenden Person ausgewiesen. Die Phantomaktien-Einheiten werden als wirtschaftlich äquivalent zu Stammaktien beschrieben und sind in zwei gleichen jährlichen Raten zahlbar, beginnend innerhalb von 90 Tagen nach dem Ausscheiden der meldepflichtigen Person als Direktor, bar oder in Stammaktien zahlbar nach Wahl des Inhabers.
FAQ
What transactions were reported on the MAA Form 4 by Deborah H. Caplan?
How many shares does Deborah H. Caplan beneficially own after the reported transactions (MAA)?
What are the terms of the phantom stock units reported for MAA?
What price is shown for the underlying common stock related to the phantom units on the MAA filing?
When was the Form 4 signed and submitted for MAA?
