VIVMARK (VMRK) EVP Susan Walsh Receives Restricted Unit Awards

What Happened

• Susan A. Walsh, EVP, Human Capital & Administration at VIVMARK (VMRK), received a total of 19,034 restricted unit awards (RUs) on August 17, 2026. The grant entries on the Form 4 are all coded as awards/acquisitions (A) and are derivative awards converted in connection with the AVB–VMRK merger.
• The five tranches reported: 3,363 RUs (@ $0.00), 1,575 RUs (@ $0.00), 1,422 RUs (@ $0.50; $711), 3,667 RUs (@ $0.00), and 9,007 RUs (@ $0.00). Most tranches show $0 acquisition price because they are conversion of prior AVB performance awards rather than a cash purchase.

Key Details

• Transaction date: August 17, 2026. Form filed August 19, 2026 (timely within the typical two-business-day window).
• Transaction type: A = Award/Grant (derivative RUs converted from AVB Performance Awards under the merger).
• Total awarded: 19,034 restricted units (RUs); reported cash-equivalent on the Form 4 only for 1,422 RUs = $711.
• Vesting/holding: RUs have varying vesting schedules and restrictions per the filing — some vest March 1, 2027; some March 1, 2028; some March 1, 2029; and some August 17, 2029. Certain RUs (and any OP Units into which they convert) are subject to a holding restriction until August 17, 2028.
• Conversion/structure notes: RUs were issued in lieu of AVB restricted shares/performance awards under the Merger Agreement; RUs convert into OP Units and are exchangeable one-for-one for VMRK common shares (or cash, at VMRK’s option). The conversion math for AVB performance awards used a multiplier referenced in the filing (2.793) when converting to RUs.
• Shares owned after transaction: Not specified in the details provided here.

Context

• These are derivative awards arising from the August 17, 2026 merger between AvalonBay (AVB) and VIVMARK, which converted outstanding AVB performance awards into RUs in the OP (operating partnership).
• For retail investors: this is not an open-market purchase or sale but a post-merger conversion of prior company awards into partnership units with scheduled vesting and holding restrictions. Such awards reflect compensation/merger treatment rather than a direct buy or sell that signals immediate insider conviction.