MAA (NYSE: MAA) director receives 207 phantom stock units as deferred pay

Rhea-AI Filing Summary

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

MID AMERICA APARTMENT COMMUNITIES INC. director Edith Kelly Green received a grant of 207 shares of phantom stock, each economically equivalent to one share of common stock, at a reference price of $128.07 per share. After this award, she holds a total of 8,445.931 phantom stock units. These units will be paid in two equal annual installments, in cash or common stock at her election, beginning within 90 days after the calendar year in which she stops serving as a director.

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

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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)
03/17/2026

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)	03/17/2026		A		207		(1)	(1)	Common Stock	207	$128.07	8,445.931	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	03/18/2026
	** 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)

FAQ

What insider transaction did MAA director Edith Kelly Green report on this Form 4?

MAA director Edith Kelly Green reported receiving a grant of 207 phantom stock units. These units are a form of deferred compensation, each economically equivalent to one share of common stock, increasing her total phantom stock holdings to 8,445.931 units.

What is phantom stock in the context of MAA (MAA) director compensation?

Phantom stock is a deferred compensation award that mirrors the value of common shares without immediate delivery. For MAA, each phantom stock unit equals one common share in economic value and is settled later in cash or stock when the director leaves the board.

How many MAA phantom stock units does Edith Kelly Green hold after this grant?

After the 207-unit grant, Edith Kelly Green holds 8,445.931 phantom stock units. This figure represents her total phantom stock-based deferred compensation position as reported, all economically tied to Mid America Apartment Communities’ common stock performance.

When will Edith Kelly Green’s MAA phantom stock units be paid out?

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

Does this MAA Form 4 show any open-market buying or selling of common stock?

The Form 4 shows a grant of 207 phantom stock units and a holding entry for common stock. It does not report any open-market purchases or sales, focusing instead on director deferred compensation tied to common stock value.