Vivmark (VMRK) EVP Edward Schulman Sells Shares; Receives Restricted Units

What Happened

• Edward M. Schulman, Executive Vice President, Legal Affairs of Vivmark Residential (VMRK), sold 16,595 shares in an open-market sale on August 18, 2026 for total proceeds of $1,066,893 (weighted average price $64.29; sale prices ranged $64.11–$64.39).
• On August 17, 2026 he was granted a series of restricted unit awards (derivative interests in the operating partnership, "RUs") totaling 59,685 RUs: 12,124; 5,566; 5,016 (priced at $0.50 each; $2,508); 12,960; and 24,019 (most were granted at $0.00). These are derivative awards converted/issued in connection with the merger described below.

Key Details

• Transaction dates/prices: Sale 8/18/2026 — 16,595 shares @ weighted avg $64.29 (range $64.11–$64.39); Grants 8/17/2026 — multiple RU awards (one lot of 5,016 RUs had $0.50 per-unit amount).
• Proceeds: Sale ≈ $1,066,893; one grant had a nominal consideration of $2,508; other grants reported $0 value (derivative awards).
• Shares/RUs received: 59,685 RUs granted on Aug 17, 2026; 16,595 shares sold on Aug 18, 2026. The filing does not state total common shares owned after these transactions in the provided excerpt.
• Notable footnotes: Awards were RUs issued in lieu of AVB restricted shares/performance awards due to the merger of AvalonBay (AVB) into VMRK (effective Aug 17, 2026). RUs convert to OP Units and, subject to vesting and other conditions, are exchangeable one-for-one for VMRK common shares or cash at VMRK’s option. Some RUs have specific vesting schedules (vesting dates include March 1 of 2027/2028/2029 and August 17, 2029) and some are subject to a holding restriction until August 17, 2028.
• Timeliness: Filing dated Aug 19, 2026 covering trades on Aug 17–18, 2026 — appears timely (not marked late).

Context

• The grants are derivative restricted-unit awards resulting from the merger with AVB and conversion of prior AVB awards; they vest over time and may convert into partnership units or VMRK shares per the footnotes.
• The sale was an open-market disposal (common for liquidity or portfolio management); purchases typically carry more explicit bullish signals, while awards reflect compensation/merger-related conversions.
• Codes: S = sale (open market), A = award/grant (derivative RUs).