Dreyer Kellie 4

What Happened

• Kellie Dreyer, Senior Vice President and Chief Accounting Officer of Apartment Investment & Management Co. (AIV), had shares withheld/disposed to satisfy a tax liability (transaction code F).
• Two dispositions: 603 shares on 2026-01-31 at $5.88 each (≈ $3,546), and 3,313 shares on 2026-02-01 at $5.88 each (≈ $19,480). Combined, 3,916 shares were disposed for roughly $23,026.
• This is a tax-withholding/settlement action (not an open-market purchase); such transactions are typically routine and relate to option exercises or other equity compensation.

Key Details

• Transaction dates and prices:
  • 2026-01-31: 603 shares @ $5.88 = $3,546 (code F)
  • 2026-02-01: 3,313 shares @ $5.88 = $19,480 (code F)
• Total shares disposed: 3,916; total value ≈ $23,026.
• Shares owned after the transaction: not specified in the provided filing excerpt.
• Footnote/transaction code: F = payment of exercise price or tax liability (shares were withheld/surrendered to cover taxes).
• Filing date: Form filed 2026-02-02; no late-filing flag indicated in the provided data.

Context

• Code F transactions typically reflect employer withholding to satisfy tax obligations tied to equity compensation (e.g., option exercises or RSU vesting). The shares are surrendered/withheld rather than sold in an open-market trade, so this action is generally a routine administrative step rather than a direct signal of the insider’s view on the company’s stock.
• For retail investors, purchases by insiders tend to be more indicative of bullish conviction; tax-withholding disposals are common and usually not interpreted as negative information about company prospects.