MAA (NYSE: MAA) director receives 1,401-share stock award and holds phantom units

Rhea-AI Filing Summary

GRAF ALAN B JR reported acquisition or exercise transactions in this Form 4 filing.

MID AMERICA APARTMENT COMMUNITIES INC. director Alan B. Graf Jr. reported a stock-based compensation award. He received 1,401 shares of common stock as a grant, bringing his directly held common shares to 14,961 after the transaction.

He also holds phantom stock tied to 38,325.2085 underlying common shares. According to the disclosure, each phantom share is economically equivalent to one common share and will be paid in two equal annual installments after he ceases to serve as a director, in cash or common stock at his election.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider GRAF ALAN B JR

Role null

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	1,401	$0.00	--
holding	Phantom Stock	--	--	--

Holdings After Transaction: Common Stock — 14,961 shares (Direct, null); Phantom Stock — 38,325.209 shares (Direct, null)

Footnotes (1)

1. [object Object]

Key Figures

Common stock grant: 1,401 shares Direct common shares after grant: 14,961 shares Phantom stock underlying shares: 38,325.2085 shares +1 more

4 metrics

Common stock grant 1,401 shares Grant/award acquisition on 2026-05-19

Direct common shares after grant 14,961 shares Holdings following 2026-05-19 transaction

Phantom stock underlying shares 38,325.2085 shares Economic equivalent of common stock, direct ownership

Phantom stock exercise price $0.0000 Economic-equivalent phantom stock units

Key Terms

Phantom Stock, grant/award acquisition, economic equivalent, phantom stock are payable

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.

grant/award acquisition financial

"transaction_action": "grant/award acquisition""

economic equivalent financial

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

phantom stock are payable financial

"The shares of phantom stock are payable in two equal annual installments"

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^*

GRAF ALAN B JR

(Last) (First) (Middle)

6815 POPLAR AVENUE

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	05/19/2026		A		1,401	A	$0	14,961	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	$0(1)							(1)	(1)	Common Stock	38,325.2085		38,325.2085	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 did Alan B. Graf Jr. report in his latest Form 4 for MAA?

He reported receiving a grant of 1,401 shares of MAA common stock, increasing his direct holdings to 14,961 shares. The filing also lists a substantial phantom stock position economically equivalent to additional common shares.

How many MAA common shares does Alan B. Graf Jr. hold after this grant?

After the grant, he directly holds 14,961 shares of MAA common stock. This figure reflects his position following the 1,401-share stock award reported in the Form 4 filing for MID AMERICA APARTMENT COMMUNITIES INC. (MAA).

What is the size of Alan B. Graf Jr.’s phantom stock position in MAA?

He holds phantom stock linked to 38,325.2085 underlying MAA common shares. Each phantom share is economically equivalent to one common share and will be settled in two equal annual installments after he stops serving as a director.

Was Alan B. Graf Jr.’s MAA stock grant an open-market purchase or a compensation award?

The Form 4 identifies the transaction as a grant or award acquisition, not an open-market purchase. The A transaction code indicates shares were received as compensation rather than bought on the market.

How and when is the MAA phantom stock for Alan B. Graf Jr. payable?

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

Does the Form 4 for MAA show any stock sales by Alan B. Graf Jr.?

No stock sales are reported in this Form 4. It discloses a 1,401-share grant of common stock and a phantom stock holding, with no transactions classified as sales or dispositions in the summary data.