MAA Director Deborah Caplan Receives 121-Share Phantom Award

What Happened

• Deborah H. Caplan, a director of Mid America Apartment Communities, Inc. (MAA), was granted 121 shares of phantom stock (reported as a derivative award) on 2026-09-22. The award is reported at $119.15 per share for a total reported value of $14,417. This is a compensation grant (award/acquisition), not an open-market purchase or sale.

Key Details

• Transaction date: 2026-09-22; filing date: 2026-09-23 (filed promptly).
• Award type/code: A (grant/award; derivative security).
• Shares granted: 121 phantom shares at $119.15 per share; total $14,417.
• Shares owned after transaction: not specified in the Form 4 provided.
• Footnote: Each phantom share equals the economic value of one common share and is payable in two equal annual installments beginning within 90 days after the calendar year in which the reporting person ceases to serve as a director; payment can be in cash or common stock at the reporting person’s election.

Context

• Phantom stock awards are a form of director compensation designed to mirror the economic benefit of shares and are payable later; they are not an immediate market purchase or sale and therefore should not be read as a direct personal market bet.