Mid America Apartment Communities awards 54 phantom shares

MID AMERICA APARTMENT COMMUNITIES INC.

Rhea-AI Filing Summary

MID AMERICA APARTMENT COMMUNITIES INC. (symbol: MAA) is the issuer of record for a Form 4 filing submitted to the SEC. Case John reported acquisition or exercise transactions in this Form 4 filing.

Case John, a director of MAA, received a 54-share Phantom Stock award on September 22, 2026; the reported per-share amount was $119.15. His reported Phantom Stock balance afterward was 5,895 shares, and he also reported direct holdings of 200 Common Stock shares. Each Phantom Stock share is the economic equivalent of one Common Stock share. No Rule 10b5-1 plan is reported.

Insider Trade Summary

Grant/Award: 54 shares

Grant/Award 2 txns

Insider Case John

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock F1	54	$119.15	$6K
holding	Common Stock	--	--	--

Holdings After Transaction: Phantom Stock — 5,895.299 contracts (Direct); Common Stock — 200 shares (Direct)

Footnotes (1)

1. F1. 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.

Key Figures

Phantom Stock award: 54 shares Reported per-share amount: $119.15 per share Phantom Stock balance: 5,895 shares +2 more

5 metrics

Phantom Stock award 54 shares Award reported September 22, 2026

Reported per-share amount $119.15 per share Phantom Stock award reported September 22, 2026

Phantom Stock balance 5,895 shares Reported after the award

Direct Common Stock holdings 200 shares Reported September 22, 2026

Payment installments Two equal annual installments Beginning within 90 days following the calendar year in which the director ceases to serve

Key Terms

Phantom Stock, economic equivalent, two equal annual installments

3 terms

Phantom Stock financial

"Each share of phantom stock is the economic equivalent of one share of common stock."

A phantom stock is a form of compensation that gives employees or executives the benefits of stock ownership, such as the increase in stock value, without actually giving them real shares. It acts like a promise to pay the employee the equivalent value of company stock later, often as a bonus or incentive. This allows companies to motivate and reward staff without diluting ownership or transferring actual shares.

economic equivalent financial

"Each share of phantom stock is the economic equivalent of one share of common stock."

two equal annual installments financial

"payable in two equal annual installments"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many MAA Phantom Stock shares did director Case John receive?

Director Case John received an award of 54 Phantom Stock shares on September 22, 2026, with a reported per-share amount of $119.15. His reported Phantom Stock balance afterward was 5,895 shares.

How is the MAA Phantom Stock award paid?

Each Phantom Stock share is the economic equivalent of one Common Stock share. The shares are payable in two equal annual installments, beginning within 90 days following the calendar year in which Case John ceases to serve as a director. Payment may be in cash or Common Stock, at his election.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 09/23/2026 - 04:28 PM Accepted by SEC EDGAR 09/23/2026 - 04:28 PM Learn about SEC filing dates

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^*

Case John

(Last) (First) (Middle)

3045 STERLING RD

(Street)

MOUNTAIN BROOK ALABAMA 35213

(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)
09/22/2026

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								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)	09/22/2026		A		54		(1)	(1)	Common Stock	54	$119.15	5,895.299	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	09/23/2026
	** 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)