[Form 4] MID AMERICA APARTMENT COMMUNITIES INC. Insider Trading Activity
Gary Shorb, a director of Mid-America Apartment Communities, reported changes in his holdings on Form 4. The filing shows a disposal of 4,896.404 shares of common stock on 09/23/2025. The report also shows an acquisition of 94 phantom stock units on the same date; each phantom unit is economically equivalent to one share of common stock and will be payable in two equal annual installments starting within 90 days after the year the reporting person ceases to serve as a director, in cash or common stock at the reporting person’s election. After the reported transactions, the reporting person beneficially owns 31,302.1666 shares of common stock. The form is signed by an authorized filer on 09/24/2025.
Gary Shorb, un amministratore di Mid-America Apartment Communities, ha riportato modifiche nelle sue partecipazioni sul Modulo 4. La dichiarazione mostra una cessione di 4.896,404 azioni ordinarie il 23/09/2025. Il rapporto mostra anche un'acquisizione di 94 unità azionarie fantasma nello stesso giorno; ogni unità fantasma è economicamente equivalente a una azione ordinaria e sarà pagata in due rate annue uguali a partire entro 90 giorni dall'anno in cui la persona che segnala cessa di essere direttore, in contanti o azioni ordinarie a scelta della persona che segnala. Dopo le transazioni riportate, la persona che segnala detiene beneficiamente 31.302,1666 azioni ordinarie. Il modulo è firmato da un esaminatore autorizzato il 24/09/2025.
Gary Shorb, un director de Mid-America Apartment Communities, informó cambios en sus participaciones en el Formulario 4. La declaración muestra una disposición de 4,896.404 acciones ordinarias el 23/09/2025. El informe también muestra una adquisición de 94 unidades de acciones fantasma en la misma fecha; cada unidad fantasma es económicamente equivalente a una acción ordinaria y será pagada en dos cuotas anuales iguales a partir de los 90 días después del año en que la persona que informa deje de ser director, en efectivo o acciones ordinarias a elección de la persona que informa. Después de las transacciones reportadas, la persona que informa posee beneficiariamente 31,302.1666 acciones ordinarias. El formulario está firmado por un presentador autorizado el 24/09/2025.
Gary Shorb는 Mid-America Apartment Communities의 이사로서 Form 4에서 보유 주식의 변동을 보고했습니다. 제출서는 4,896.404주의 보통주 처분을 2025-09-23에 보여줍니다. 보고서는 같은 날짜에 94 가상 주식 단위의 취득도 표시합니다. 각 가상 단위는 보통주 한 주와 경제적으로 동일하며 보고자가 이사 직을 그 해에 중단한 해의 90일 이내에 현금 또는 보통주로 보고자의 선택에 따라 두 차례의 연도 분할로 지급될 것입니다. 보고된 거래 후 보고자는 유익하게 31,302.1666주의 보통주를 소유합니다. 양식은 2025-09-24에 승인된 제출자가 서명했습니다.
Gary Shorb, administrateur de Mid-America Apartment Communities, a signalé des changements dans ses participations sur le formulaire 4. Le dossier montre une cession de 4,896.404 actions ordinaires le 23/09/2025. Le rapport indique également une acquisition de 94 unités d’actions fantômes à la même date; chaque unité fantôme est économiquement équivalente à une action ordinaire et sera payable en deux versements annuels égaux, débutant dans les 90 jours suivant l’année au cours de laquelle la personne déclarante cesse d’être administrateur, en espèces ou en actions ordinaires au choix de la personne déclarante. Après les transactions rapportées, la personne déclarante détient de manière bénéficiaire 31,302.1666 actions ordinaires. Le formulaire est signé par un déposant autorisé le 24/09/2025.
Gary Shorb, Direktor von Mid-America Apartment Communities, meldete Änderungen in seinen Beteiligungen auf Formular 4. Das Filing zeigt eine Veräußerung von 4.896,404 Aktien Stammaktien am 23.09.2025. Der Bericht zeigt auch eine Erwerbung von 94 Phantomaktieneinheiten am selben Datum; jede Phantomaktien-Einheit ist wirtschaftlich äquivalent zu einer Stammaktie und wird in zwei gleichen jährlichen Raten ausgezahlt, beginnend innerhalb von 90 Tagen nach dem Jahr, in dem die meldende Person ihr Amt als Direktor niederlegt, in bar oder Stammaktien nach Wahl der meldenden Person. Nach den gemeldeten Transaktionen besitzt die meldende Person beneficial 31.302,1666 Aktien Stammaktien. Das Formular ist von einem autorisierten Einreicher am 24.09.2025 unterzeichnet.
Gary Shorb، مدير شركة Mid-America Apartment Communities، أعلن عن تغيّرات في ممتلكاته على النموذج 4. يُظهر الإبلاغ تصرّفاً في 4,896.404 أسهم عادية في 23/09/2025. كما يظهر التقرير اكتساباً لـ 94 وحدة أسهم وهمية؛ كل وحدة وهمية تعادل اقتصادياً سهماً واحداً من الأسهم العادية وسيُدفعها على دفعتين سنويتين متساويتين بدءاً من خلال 90 يوماً بعد السنة التي يتوقف فيها الشخص المبلغ عن العمل كعضو مجلس إدارة، نقداً أو أسهماً عادية حسب اختيار الشخص المبلغ. بعد المعاملات المبلّغ عنها، يمتلك الشخص المبلغ بشكل مستفيد 31,302.1666 سهماً عائداً من الأسهم العادية. تم توقيع النموذج من قبل مبلّغ مخوّل في 24/09/2025.
Gary Shorb，Mid-America Apartment Communities 的董事，在表格4上报告了其持股的变动。该披露显示在2025/09/23日处置了4,896.404 股普通股。该报告同日还显示取得了94 股虚拟股票单位；每单位虚拟股票在经济上等同于一股普通股，将在该年报告人不再担任董事后的90 days内开始分两期按年度支付，现金或以报告人选定的普通股支付。经上述交易后，报告人实际持有31,302.1666 股普通股。该表格由授权提交人于2025/09/24签署。
- Received 94 phantom stock units that are economically equivalent to common shares and provide deferred compensation
- Maintains significant beneficial ownership at 31,302.1666 shares following the reported transactions
- Disposed of 4,896.404 common shares, reducing the director's direct holdings
- Phantom units pay out only after cessation of service, so there is no immediate voting dilution or liquidity from those units
Insights
TL;DR: Director reduced direct stock holdings materially and received phantom stock that vests on post-service payout terms.
The disposal of 4,896.404 common shares is a clear, reportable change in immediate insider ownership and may modestly reduce the director's direct voting exposure. The simultaneous grant of 94 phantom stock units, described as economically equivalent to one share each and payable in two equal annual installments after cessation of service, represents a deferred compensation mechanism rather than immediate equity dilution. This structure ties economic value to future service or post-service timing and provides payout flexibility in cash or stock at the director's election. All items are routine director compensation and ownership disclosures under Section 16.
TL;DR: Reporting shows a reported sale and a small grant of phantom units; beneficial ownership remains substantial at 31,302.1666 shares.
The Form 4 cleanly discloses a 09/23/2025 disposal of 4,896.404 common shares and an acquisition of 94 phantom stock units recorded as derivative securities with an underlying price reference of $141.12. The notation that phantom shares pay out in two annual installments starting after the director leaves service clarifies timing and settlement mechanics. The reported post-transaction beneficial ownership of 31,302.1666 shares should be used for any short‑term insider activity analysis; no exercise or option-related changes beyond the phantom units are listed.
Gary Shorb, un amministratore di Mid-America Apartment Communities, ha riportato modifiche nelle sue partecipazioni sul Modulo 4. La dichiarazione mostra una cessione di 4.896,404 azioni ordinarie il 23/09/2025. Il rapporto mostra anche un'acquisizione di 94 unità azionarie fantasma nello stesso giorno; ogni unità fantasma è economicamente equivalente a una azione ordinaria e sarà pagata in due rate annue uguali a partire entro 90 giorni dall'anno in cui la persona che segnala cessa di essere direttore, in contanti o azioni ordinarie a scelta della persona che segnala. Dopo le transazioni riportate, la persona che segnala detiene beneficiamente 31.302,1666 azioni ordinarie. Il modulo è firmato da un esaminatore autorizzato il 24/09/2025.
Gary Shorb, un director de Mid-America Apartment Communities, informó cambios en sus participaciones en el Formulario 4. La declaración muestra una disposición de 4,896.404 acciones ordinarias el 23/09/2025. El informe también muestra una adquisición de 94 unidades de acciones fantasma en la misma fecha; cada unidad fantasma es económicamente equivalente a una acción ordinaria y será pagada en dos cuotas anuales iguales a partir de los 90 días después del año en que la persona que informa deje de ser director, en efectivo o acciones ordinarias a elección de la persona que informa. Después de las transacciones reportadas, la persona que informa posee beneficiariamente 31,302.1666 acciones ordinarias. El formulario está firmado por un presentador autorizado el 24/09/2025.
Gary Shorb는 Mid-America Apartment Communities의 이사로서 Form 4에서 보유 주식의 변동을 보고했습니다. 제출서는 4,896.404주의 보통주 처분을 2025-09-23에 보여줍니다. 보고서는 같은 날짜에 94 가상 주식 단위의 취득도 표시합니다. 각 가상 단위는 보통주 한 주와 경제적으로 동일하며 보고자가 이사 직을 그 해에 중단한 해의 90일 이내에 현금 또는 보통주로 보고자의 선택에 따라 두 차례의 연도 분할로 지급될 것입니다. 보고된 거래 후 보고자는 유익하게 31,302.1666주의 보통주를 소유합니다. 양식은 2025-09-24에 승인된 제출자가 서명했습니다.
Gary Shorb, administrateur de Mid-America Apartment Communities, a signalé des changements dans ses participations sur le formulaire 4. Le dossier montre une cession de 4,896.404 actions ordinaires le 23/09/2025. Le rapport indique également une acquisition de 94 unités d’actions fantômes à la même date; chaque unité fantôme est économiquement équivalente à une action ordinaire et sera payable en deux versements annuels égaux, débutant dans les 90 jours suivant l’année au cours de laquelle la personne déclarante cesse d’être administrateur, en espèces ou en actions ordinaires au choix de la personne déclarante. Après les transactions rapportées, la personne déclarante détient de manière bénéficiaire 31,302.1666 actions ordinaires. Le formulaire est signé par un déposant autorisé le 24/09/2025.
Gary Shorb, Direktor von Mid-America Apartment Communities, meldete Änderungen in seinen Beteiligungen auf Formular 4. Das Filing zeigt eine Veräußerung von 4.896,404 Aktien Stammaktien am 23.09.2025. Der Bericht zeigt auch eine Erwerbung von 94 Phantomaktieneinheiten am selben Datum; jede Phantomaktien-Einheit ist wirtschaftlich äquivalent zu einer Stammaktie und wird in zwei gleichen jährlichen Raten ausgezahlt, beginnend innerhalb von 90 Tagen nach dem Jahr, in dem die meldende Person ihr Amt als Direktor niederlegt, in bar oder Stammaktien nach Wahl der meldenden Person. Nach den gemeldeten Transaktionen besitzt die meldende Person beneficial 31.302,1666 Aktien Stammaktien. Das Formular ist von einem autorisierten Einreicher am 24.09.2025 unterzeichnet.
FAQ
What transactions did Gary Shorb report on Form 4 for MAA?
How many shares does the reporting person own after these transactions?
What are the terms of the phantom stock units granted to Gary Shorb?
When was the Form 4 signed and filed?
What price is associated with the derivative disclosure for the phantom units?
