Caplan Deborah H 4

What Happened Deborah H. Caplan, a director of Mid-America Apartment Communities, received an award/grant on 2026-05-19 totaling 1,514 shares. The filing shows 1,401 shares reported at $0 (phantom stock award) and an additional 113 derivative shares acquired at $128.47 each, valued at $14,517. These are coded as awards/grants (Transaction Code A), not open-market purchases or sales.

Key Details

• Transaction date: 2026-05-19; Form 4 filed 2026-05-20 (timely).
• Grants: 1,401 shares @ $0.00 (reported as phantom stock).
• Derivative acquisition: 113 shares @ $128.47 = $14,517.
• Shares owned after the transaction: not specified in the provided filing excerpt.
• Footnote: Each phantom share is the economic equivalent of one common share and is payable in two equal annual installments beginning within 90 days after the calendar year in which the director stops serving; payable in cash or common stock at the director's election.

Context This was a compensation award (coded A), not a market purchase or sale. Phantom stock and other derivative awards represent future economic value and payout timing/format can vary, so they do not necessarily reflect an immediate change in trading exposure or a direct buy/sell signal.