MAA (NYSE: MAA) EVP gets stock grant, sells shares under 10b5-1

Filing Impact

(Neutral)

Filing Sentiment

(Negative)

Form Type

Rhea-AI Filing Summary

MID AMERICA APARTMENT COMMUNITIES INC. executive Timothy Argo, EVP Chief Strategy & Analysis, reported a mix of stock grant, tax withholding, and a small sale. He received 2,637 shares of common stock as a grant, with 298 shares withheld to cover taxes related to vesting under a prior restricted stock plan. He then sold 183 shares at $124.73 per share in an open-market transaction pursuant to a pre-arranged Rule 10b5-1 trading plan to meet additional tax obligations. After these transactions, he directly holds 21,382.0813 common shares, plus additional indirect holdings through an ESOP allocation and an IRA.

Insider Trade Summary 10b5-1

Net Seller: 183 shares ($22,826)

Net Sell 5 txns

Insider Argo Timothy

Role EVP, Chief Strategy & Analysis

Sold 183 shs ($23K)

Type	Security	Shares	Price	Value
Sale	Common Stock	183	$124.73	$23K
Grant/Award	Common Stock	2,637	$0.00	--
Tax Withholding	Common Stock	298	$122.55	$37K
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 21,382.081 shares (Direct); Common Stock — 804.395 shares (Indirect, Allocated shares in ESOP)

Footnotes (1)

Disposals are being withheld to cover taxes related to vesting pursuant to shares earned and issued under a prior year restricted stock plan. Open market sale pursuant to a 10b5-1 plan adopted by the Reporting Person in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934, as amended. Shares were sold to meet additional tax obligations related to vestings of shares of restricted stock previously earned under a prior year restricted stock plan.

Key Figures

Stock grant: 2,637 shares Tax-withheld shares: 298 shares Open-market sale: 183 shares at $124.73 +4 more

7 metrics

Stock grant 2,637 shares Common stock grant on 2026-04-01 at $0.0000

Tax-withheld shares 298 shares Shares withheld for taxes at $122.55 on 2026-04-01

Open-market sale 183 shares at $124.73 Sale on 2026-04-06 under Rule 10b5-1 plan

Direct holdings after transactions 21,382.0813 shares Common stock directly owned after 2026-04-06 sale

ESOP indirect holdings 804.3951 shares Allocated shares in ESOP as of 2026-04-01

IRA indirect holdings 28.8628 shares IRA-held common stock as of 2026-04-01

Net buy/sell shares -183 shares Net open-market direction in this filing (net-sell)

Key Terms

Rule 10b5-1, restricted stock plan, tax-withholding disposition, ESOP, +1 more

5 terms

Rule 10b5-1 regulatory

"Open market sale pursuant to a 10b5-1 plan adopted by the Reporting Person"

Rule 10b5-1 is a regulation that allows company insiders to buy or sell their shares at predetermined times, even if they have access to non-public information. It acts like setting a schedule in advance for transactions, helping prevent accusations of unfair trading. This rule provides a way for insiders to plan trades transparently, giving investors confidence that these transactions are not based on hidden information.

restricted stock plan financial

"shares of restricted stock previously earned under a prior year restricted stock plan"

A restricted stock plan is a program where a company grants employees or executives shares that are held back until certain conditions are met, such as staying with the company for a set period or hitting performance goals. Think of it like a reward that unlocks over time; for investors it matters because these grants can dilute existing ownership when they vest and signal management’s incentives and confidence in future performance.

tax-withholding disposition financial

"Payment of exercise price or tax liability by delivering securities"

A tax-withholding disposition is an event or transaction—such as selling or transferring securities, exercising options, or receiving compensation—that triggers a requirement to hold back part of the payment and remit it to tax authorities. It matters to investors because it reduces the cash they receive immediately and can change the timing and amount of taxable income, like a cashier taking a portion of your sale proceeds to pay taxes before you get the rest.

ESOP financial

"Allocated shares in ESOP"

An Employee Stock Ownership Plan (ESOP) is a program that gives employees ownership shares in their company, often as part of their benefits package. It acts like a company-sponsored savings plan, allowing workers to have a stake in the company's success, which can boost motivation and loyalty. For investors, ESOPs can influence company decisions and stock value, making them an important aspect of corporate ownership and governance.

Form 4 regulatory

"INSIDER FILING DATA (Form 4)"

Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.

Form 4 Insider Transactions: What Each Field Means →

04/06/2026 - 04:43 PM

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^*

Argo Timothy

(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)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	EVP, Chief Strategy & Analysis

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/01/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	04/01/2026		A		2,637	A	$0	21,863.0813	D
Common Stock	04/01/2026		F⁽¹⁾		298	D	$122.55	21,565.0813	D
Common Stock	04/06/2026		S⁽²⁾		183	D	$124.73	21,382.0813	D
Common Stock								804.3951	I	Allocated shares in ESOP
Common Stock								28.8628	I	IRA

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. Disposals are being withheld to cover taxes related to vesting pursuant to shares earned and issued under a prior year restricted stock plan.

2. Open market sale pursuant to a 10b5-1 plan adopted by the Reporting Person in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934, as amended. Shares were sold to meet additional tax obligations related to vestings of shares of restricted stock previously earned under a prior year restricted stock plan.

	/s/ Kellye Clouse	04/06/2026
	** 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)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transactions did MAA executive Timothy Argo report on this Form 4?

Timothy Argo reported a stock grant, tax withholding, and a small sale. He received 2,637 MAA common shares, had 298 shares withheld for taxes, and sold 183 shares in an open-market transaction disclosed in the filing.

How many MID AMERICA APARTMENT COMMUNITIES (MAA) shares does Timothy Argo hold after the transactions?

After the reported transactions, Timothy Argo directly holds 21,382.0813 MAA common shares. He also has indirect holdings of 804.3951 shares allocated in an ESOP and 28.8628 shares in an IRA, as shown in the ownership tables.

Was the MAA insider stock sale by Timothy Argo part of a Rule 10b5-1 plan?

Yes. The filing states the 183-share open-market sale was made under a pre-arranged Rule 10b5-1 trading plan. These plans schedule trades in advance, and the filing notes the sale helped meet tax obligations from restricted stock vestings.

Why were some of Timothy Argo’s MAA shares disposed of on this Form 4?

The Form 4 explains that 298 shares were disposed of to cover taxes related to vesting of restricted stock. A further 183 shares were sold in the open market to meet additional tax obligations tied to previously earned restricted stock awards.

What does the tax-withholding disposition on Timothy Argo’s MAA Form 4 mean?

A tax-withholding disposition means shares were withheld instead of cash to pay taxes on stock vesting. Here, 298 MAA shares were delivered to satisfy tax liabilities arising from restricted stock earned and issued under a prior year restricted stock plan.

How large is the open-market sale reported by MAA executive Timothy Argo?

The open-market sale covered 183 MAA common shares at a price of $124.73 per share. The footnotes state this transaction occurred under a Rule 10b5-1 plan and was conducted to meet additional tax obligations linked to earlier restricted stock vestings.