Mid America Apartment Communities (NYSE: MAA) director gets phantom stock grant

Rhea-AI Filing Summary

Mid America Apartment Communities reported that one of its directors acquired phantom stock tied to the company’s common shares.

On December 17, 2025, the director received 194 phantom stock units, each economically equivalent to one share of common stock, at a price of $137.09 per unit. Following this transaction, the director beneficially owns 8,145.867 phantom stock units on a direct basis. The phantom stock will be paid in two equal annual installments, beginning within 90 days after the calendar year in which the director ceases to serve, and may be settled in cash or in 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

OMB APPROVAL

OMB Number:			3235-0287
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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 TN 38138

(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								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)	12/17/2025		A		194		(1)	(1)	Common Stock	194	$137.09	8,145.867	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 was reported for Mid America Apartment Communities (MAA) on December 17, 2025?

A director of Mid America Apartment Communities acquired 194 phantom stock units on December 17, 2025, each economically equivalent to one share of common stock at $137.09 per unit.

What is phantom stock for Mid America Apartment Communities (MAA)?

Phantom stock is described as being the economic equivalent of one share of Mid America Apartment Communities common stock, with each phantom share tracking the value of one common share.

When will the Mid America Apartment Communities (MAA) phantom stock be paid out?

The phantom stock is payable in two equal annual installments, beginning within 90 days following the calendar year in which the director ceases to serve on the board.

In what form can the Mid America Apartment Communities (MAA) phantom stock be settled?

The phantom stock may be paid out in either cash or common stock of Mid America Apartment Communities, at the election of the reporting director.

How many phantom stock units does the director now beneficially own in Mid America Apartment Communities (MAA)?

After the reported transaction, the director beneficially owns 8,145.867 phantom stock units, corresponding to the same number of equivalent common shares.

Is the reporting person in this Mid America Apartment Communities (MAA) filing a 10% owner?

The reporting person is identified as a director, and the 10% owner box is not checked in the relationship section.

How is ownership of the phantom stock classified for the Mid America Apartment Communities (MAA) director?

The phantom stock is listed as being directly owned by the director, as indicated by the ownership code "D" in the derivative securities table.