GRAF ALAN B JR 4

What Happened

• Alan B. Graf Jr., a director of Mid America Apartment Communities, Inc. (MAA), received an award of 1,401 phantom shares (stock units) on May 19, 2026. The grant is reported at $0.00 per unit (no cash exchanged at grant). This is an award/compensation grant (code A), not an open-market purchase or sale.

Key Details

• Transaction date: 2026-05-19; filing date: 2026-05-20 (Form 4).
• Amount: 1,401 phantom shares; reported price: $0.00; total cash at grant: $0.
• Shares owned after transaction: not specified in this filing.
• Footnote: Each phantom share equals the economic equivalent of one common share. Payment is deferred and payable in two equal annual installments beginning within 90 days after the calendar year in which the director ceases service, in cash or common stock at the director’s election.
• Filing timeliness: Form 4 filed the day after the reported grant (appears timely under standard Form 4 rules).

Context

• Phantom stock (stock units) is a deferred-compensation vehicle that mirrors the economic value of common shares; it does not involve an immediate transfer of common stock into the market. Such director awards are common as non-cash compensation and do not by themselves indicate the director is buying or selling shares.