MAA (MAA) director adds 1,401 phantom stock units to deferred holdings

Rhea-AI Filing Summary

STOCKERT DAVID P reported acquisition or exercise transactions in this Form 4 filing.

MID AMERICA APARTMENT COMMUNITIES INC. director David P. Stockert received a grant of 1,401 shares of phantom stock, each economically equivalent to one share of common stock, at a reference price of $128.47 per unit.

After this award, his phantom stock balance is 18,517.2462 units. The filing also shows 52,686 common shares held directly and 44,706 common shares held indirectly through his spouse, indicating his overall equity exposure to the company.

The phantom stock will be paid in two equal annual installments beginning within 90 days after the calendar year in which he ceases to serve as a director, in cash or common stock at his election.

Insights

Executive compensation analyst

Routine phantom stock grant increases director’s deferred equity-based compensation.

Director David P. Stockert received 1,401 phantom stock units, a form of deferred equity compensation economically tied to the company’s common stock. This is coded as an acquisition grant and appears consistent with typical director pay structures rather than an open-market trade.

The phantom stock balance rises to 18,517.2462 units, alongside 52,686 common shares held directly and 44,706 held indirectly by his spouse. Because this is a compensation award with no immediate market transaction or cash proceeds, it is best viewed as routine alignment of the director’s interests with shareholders.

The footnote explains that phantom stock will be settled in two annual installments after he ceases to serve as a director, in cash or common stock at his election. Future filings may show additional grants or eventual settlements, but this specific event does not by itself signal a change in outlook.

Insider Trade Summary

3 transactions reported

Mixed 3 txns

Insider STOCKERT DAVID P

Role null

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock	1,401	$128.47	$180K
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Phantom Stock — 18,517.246 shares (Direct, null); Common Stock — 52,686 shares (Direct, null); Common Stock — 44,706 shares (Indirect, By Spouse)

Footnotes (1)

1. [object Object]

Key Figures

Phantom stock grant: 1,401 units Reference price per phantom unit: $128.47 per unit Phantom stock balance: 18,517.2462 units +2 more

5 metrics

Phantom stock grant 1,401 units Grant of phantom stock units on May 19, 2026

Reference price per phantom unit $128.47 per unit Price field for phantom stock grant

Phantom stock balance 18,517.2462 units Total phantom stock after grant

Direct common stock holdings 52,686 shares Common Stock held directly after reported date

Indirect common stock holdings 44,706 shares Common Stock held indirectly by spouse after reported date

Key Terms

Phantom Stock, economic equivalent, grant/award acquisition, Common Stock

4 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."

grant/award acquisition financial

"transaction_action": "grant/award acquisition""

Common Stock financial

"The shares of phantom stock are payable ... in cash or common stock, at the election of the reporting person."

Common stock represents ownership shares in a company, giving investors a stake in its success and a say in important decisions through voting rights. It is the most common type of stock traded on markets and can provide income through dividends, as well as potential for value growth. For investors, holding common stock means sharing in the company’s profits and risks.

Form 4 Insider Transactions: What Each Field Means →

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^*

STOCKERT DAVID P

(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)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/19/2026

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								52,686	D
Common Stock								44,706	I	By Spouse

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)	05/19/2026		A		1,401		(1)	(1)	Common Stock	1,401	$128.47	18,517.2462	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	05/20/2026
	** 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)

FAQ

What insider transaction did MAA director David Stockert report on this Form 4?

David P. Stockert reported receiving a grant of 1,401 phantom stock units tied to MID AMERICA APARTMENT COMMUNITIES INC. common stock. The award is classified as an acquisition grant, increasing his deferred equity-based compensation rather than representing an open-market stock purchase or sale.

What is phantom stock in the MAA Form 4 for David Stockert?

The Form 4 states each phantom stock share is the economic equivalent of one MAA common share. These units track the value of common stock but are payable later, in two annual installments after he stops serving as a director, in cash or common stock at his election.

How many phantom stock units does David Stockert hold after this MAA transaction?

After receiving 1,401 phantom stock units, David P. Stockert holds a total of 18,517.2462 phantom stock units. This reflects his accumulated deferred compensation linked to MAA’s common stock value, separate from the actual common shares he and his spouse hold.

What are David Stockert’s direct and indirect MAA common stock holdings?

The filing shows David P. Stockert holds 52,686 MAA common shares directly. It also reports 44,706 common shares held indirectly through his spouse. Together with phantom stock units, these positions describe his overall economic exposure to MID AMERICA APARTMENT COMMUNITIES INC.

When will David Stockert’s MAA phantom stock be paid out?

The footnote explains that phantom stock will be paid in two equal annual installments. Payments begin within 90 days following the calendar year in which he ceases to serve as a director, and may be made in cash or common stock, at his election.

Does the MAA Form 4 show any open-market stock buys or sells by David Stockert?

The summarized data indicate no open-market purchases or sales, with zero buy and sell transactions reported. The only new activity is a grant of 1,401 phantom stock units, recorded as a compensation-related acquisition rather than a market trade in MAA shares.