MAA director receives phantom stock awards

KELLY GREEN EDITH reported acquisition or exercise transactions in this Form 4 filing.

Rhea-AI Filing Summary

KELLY GREEN EDITH reported acquisition or exercise transactions in this Form 4 filing.

Mid America Apartment Communities director Edith Kelly Green reported new phantom stock awards and an updated equity position. She received two grants of phantom stock on May 19, 2026, one for 207 units and another for 1,401 units, each priced at $128.47 per unit.

These 1,608 phantom stock units are each the economic equivalent of one share of common stock and are payable in two equal annual installments after she ceases to serve as a director, in cash or common stock at her election. Following these transactions, she reports holding 10,154.236 phantom stock units directly and no directly held common stock.

Insider Trade Summary

Grant/Award: 1,608 shares

Grant/Award 3 txns

Insider KELLY GREEN EDITH

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock	1,401	$128.47	$180K
Grant/Award	Phantom Stock	207	$128.47	$27K
holding	Common Stock	--	--	--

Holdings After Transaction: Phantom Stock — 10,154.236 contracts (Direct); Common Stock — 0 shares (Direct)

Footnotes (1)

1. F1. Each share of phantom stock is the economic equivalent of one share of common stock. The shares of phantom stock are payable in two equal annual installments beginning within the 90 days following the calendar year in which the reporting person ceases to serve as a director, in cash or common stock, at the election of the reporting person.

Key Figures

Phantom stock grant 1: 207 units Phantom stock grant 2: 1,401 units Total phantom stock granted: 1,608 units +3 more

6 metrics

Phantom stock grant 1 207 units Phantom Stock grant on May 19, 2026

Phantom stock grant 2 1,401 units Phantom Stock grant on May 19, 2026

Total phantom stock granted 1,608 units Combined May 19, 2026 awards

Phantom stock reference price $128.47 per unit Transaction price per unit for both grants

Phantom stock holdings after grants 10,154.236 units Total phantom stock reported following transactions

Direct common stock holdings 0 shares Common Stock holding entry following transactions

Key Terms

Phantom Stock, economic equivalent, grant/award acquisition, derivative, +1 more

5 terms

Phantom Stock financial

"Each share of phantom stock is the economic equivalent of one share of common stock."

A phantom stock is a form of compensation that gives employees or executives the benefits of stock ownership, such as the increase in stock value, without actually giving them real shares. It acts like a promise to pay the employee the equivalent value of company stock later, often as a bonus or incentive. This allows companies to motivate and reward staff without diluting ownership or transferring actual shares.

economic equivalent financial

"Each share of phantom stock is the economic equivalent of one share of common stock."

grant/award acquisition financial

"transaction_action": "grant/award acquisition""

derivative financial

""transaction_type": "derivative""

A derivative is a financial contract whose value depends on the price or performance of another asset or measure — for example a stock, index, interest rate, commodity, or currency. Investors use derivatives like insurance or leveraged bets to hedge risk, speculate, or gain exposure without owning the underlying asset; they can protect portfolios but also amplify losses and introduce counterparty and market risk.

Common Stock financial

"underlying_security_title": "Common Stock""

Common stock represents ownership shares in a company, giving investors a stake in its success and a say in important decisions through voting rights. It is the most common type of stock traded on markets and can provide income through dividends, as well as potential for value growth. For investors, holding common stock means sharing in the company’s profits and risks.

FAQ

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

What did MAA director Edith Kelly Green report in this Form 4 filing?

She reported compensation-related phantom stock awards totaling 1,608 units. The filing also shows she now holds 10,154.236 phantom stock units directly and no directly held common stock after the reported updates to her equity holdings.

How many phantom stock units did MAA (MAA) grant to the director?

She was granted 1,608 phantom stock units in total, in two awards of 207 and 1,401 units. Each unit is economically equivalent to one share of Mid America Apartment Communities common stock under the phantom stock plan terms.

At what reference price were the MAA phantom stock grants recorded?

Both phantom stock grants were recorded at $128.47 per unit. This price is used for reporting purposes in the filing and reflects the value assigned to the phantom stock awards on the transaction date of May 19, 2026.

How and when will the MAA phantom stock units be paid to the director?

The phantom stock units are payable in two equal annual installments. Payments begin within 90 days after the calendar year in which she ceases serving as a director, and can be made in cash or common stock at her election.

What are Edith Kelly Green’s reported holdings after these MAA transactions?

After the reported transactions, she holds 10,154.236 phantom stock units directly. The filing also shows a holding entry indicating zero shares of directly owned common stock following the update to her reported equity position in Mid America Apartment Communities.

Does this MAA Form 4 show any open-market stock purchases or sales?

No open-market purchases or sales are shown. The transactions are coded as grants or awards of phantom stock, reflecting compensation rather than market trading, and the filing does not report any buy or sell transactions in common stock.

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

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Accepted by SEC EDGAR 05/20/2026 - 05:00 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^*

KELLY GREEN EDITH

(Last) (First) (Middle)

6815 POPLAR AVE

SUITE 500

(Street)

GERMANTOWN TENNESSEE 38138

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
MID AMERICA APARTMENT COMMUNITIES INC. [ MAA ]

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								0	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
Phantom Stock	(1)	05/19/2026		A		1,401		(1)	(1)	Common Stock	1,401	$128.47	9,947.236	D
Phantom Stock	(1)	05/19/2026		A		207		(1)	(1)	Common Stock	207	$128.47	10,154.236	D

Explanation of Responses:

1. Each share of phantom stock is the economic equivalent of one share of common stock. The shares of phantom stock are payable in two equal annual installments beginning within the 90 days following the calendar year in which the reporting person ceases to serve as a director, in cash or common stock, at the election of the reporting person.

	/s/ Kellye Clouse	05/20/2026
	** 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)