VMRK EVP Sean Breslin Receives 108,989 Restricted Unit Award

What Happened

• Sean J. Breslin, EVP & Chief Investment Officer & General Counsel of Vivmark Residential (VMRK), was granted a total of 108,989 restricted units (RUs) on August 17, 2026. These grants are derivative awards (transaction code A) that replaced prior AvalonBay (AVB) performance awards as part of the AVB–VMRK merger.
• The grants break down into five tranches: 26,500; 12,052; 10,856; 28,056; and 31,525 RUs. Four tranches show a $0.00 acquisition price; one tranche of 10,856 RUs lists a $0.50 per-unit price (aggregate $5,428). These are awards, not open-market purchases or sales.

Key Details

• Transaction date: August 17, 2026. Form 4 filed August 19, 2026 (timely; Form 4 is typically due within two business days).
• Total awarded: 108,989 restricted units (RUs).
• Reported consideration: mostly $0.00; one tranche at $0.50/unit (10,856 units = $5,428).
• Shares owned after transaction: not specified in the provided filing excerpt.
• Notable footnotes: awards were converted from AVB performance awards pursuant to the merger agreement (conversion factor referenced in filing). RUs automatically convert to OP Units when certain tax targets are met and, subject to vesting and conditions, are exchangeable for VMRK common shares one-for-one (or cash at VMRK’s option).
• Vesting/holding restrictions: tranches have scheduled vesting dates (some vest March 1, 2027; March 1, 2028; March 1, 2029; and Aug 17, 2029) and certain RUs/OP Units are subject to a holding restriction through August 17, 2028 (see filing footnotes).

Context

• These are derivative equity awards issued in connection with the merger of AvalonBay and Vivmark (AVB merged into a Vivmark subsidiary, with conversion of outstanding AVB performance awards into RUs). RUs are a partnership-style unit that may convert to limited partnership interests and then to VMRK shares (or cash) under specified conditions.
• This is an award/grant (not a purchase or sale). Awards reflect compensation and merger-related conversions rather than an insider buying or selling stock on the open market; they do not by themselves indicate insider bullish/bearish trading intent.