Mid America Apartment Communities (MAA) director reports stock sale, phantom units

Rhea-AI Filing Summary

A director of Mid America Apartment Communities Inc. reported an insider transaction dated 12/17/2025. The disclosure shows a disposition of 200 shares of common stock and an acquisition of 47 phantom stock units tied to the company’s common stock, each priced at $137.09. After this award, the director beneficially owns 4,175.193 phantom stock units, held directly.

Each share of phantom stock is the economic equivalent of one share of common stock. These units function as deferred compensation and will be paid in two equal annual installments, beginning within 90 days after the end of the calendar year in which the director ceases to serve, in either cash or common stock at the director’s election.

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^*

Case John

(Last) (First) (Middle)

3045 STERLING RD

(Street)

MOUNTAIN BROOK AL 35213

(City) (State) (Zip)

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)

3. Date of Earliest Transaction (Month/Day/Year)
12/17/2025

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								200	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)	12/17/2025		A		47		(1)	(1)	Common Stock	47	$137.09	4,175.193	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	12/18/2025
	** 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 a Mid America Apartment Communities (MAA) director report?

The director reported a transaction dated 12/17/2025 involving the disposition of 200 shares of common stock and the acquisition of 47 phantom stock units priced at $137.09 each.

What is the transaction date in this Mid America Apartment Communities insider filing?

The earliest transaction date reported for the director’s activity is 12/17/2025.

What are phantom stock units in the MAA director’s filing?

Each phantom stock unit is the economic equivalent of one share of Mid America Apartment Communities common stock, giving value similar to an actual share.

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

The phantom stock units will be paid in two equal annual installments beginning within 90 days after the end of the calendar year in which the director ceases to serve, in cash or common stock at the director’s election.

How many phantom stock units does the MAA director hold after this transaction?

Following the reported transaction, the director beneficially owns 4,175.193 phantom stock units.

Is the phantom stock held directly or indirectly by the MAA director?

The filing indicates that the 4,175.193 phantom stock units are held under direct ownership.