AIV SVP Kellie Dreyer Receives 14,470 Restricted Shares

What Happened
Kellie Dreyer, Senior Vice President and Chief Accounting Officer of Apartment Investment & Management Co. (AIV), was credited with two awards on 2026-09-29 totaling 14,470 shares: 7,454 shares (award A) and 7,016 shares (award A). No cash was paid and no per-share price is reported (listed as N/A) because these were conversions of previously granted performance-based awards into time-based restricted stock.

Key Details

• Transaction date: 2026-09-29; Form 4 filed: 2026-09-30 (timely filing).
• Shares acquired: 7,454 and 7,016 (total 14,470). Price per share: N/A (conversion of awards). Transaction code: A (award/acquisition).
• Footnotes: F1 = conversion of a 2024 performance-based award into time-based restricted stock due to a Change in Control tied to the company’s Plan of Sale and Liquidation (deemed earned at target). F2 = same conversion for a 2025 performance-based award.
• Shares owned after the transaction: not specified in the provided summary.

Context
These transactions reflect the conversion of performance-based stock awards (from 2024 and 2025 grants) into time-based restricted shares because a Change in Control event was deemed to have occurred under the company’s stock award plan related to asset sales. This is an award/conversion event (not an open-market purchase or sale); converted restricted shares are typically subject to vesting restrictions and are not equivalent to an immediate saleable stake.