Breslin Sean J. 4

What Happened

• Sean J. Breslin, Chief Operating Officer of AvalonBay Communities, was granted a total of 19,133 shares on February 26, 2026. This consists of 6,992 restricted shares (grant) and 12,141 shares issued in settlement of previously awarded performance share units. The reported acquisition price for both items is $0 per share (typical for equity awards).

Key Details

• Transaction date: 2026-02-26. Form 4 filed: 2026-03-02 (timely — filed on the second business day after the transaction).
• Items reported:
  • 6,992 restricted shares granted under the Second Amended and Restated 2009 Equity Incentive Plan (subject to vesting). (Footnote F1)
  • 12,141 shares issued in settlement of earned performance share units under the same plan. (Footnote F3)
• Reported acquisition price: $0.00 for both grants (award/settlement, transaction code A).
• Shares owned after transaction: the filing notes that post-transaction ownership reflects direct ownership of all shares, including restricted shares (Footnote F2); the exact total share count after the awards is not specified in the excerpt provided.
• No 10b5-1 plan, tax-withholding sale, or other special filing footnotes were indicated in the provided details.

Context

• These are compensation-related equity awards, not open-market purchases or sales. Restricted stock grants are typically subject to vesting schedules, and PSU settlements reflect performance-based compensation already earned — both are standard executive pay practices and do not, by themselves, signal a buy/sell preference by the executive.
• Transaction code A indicates awards/grants; no cash changed hands on record for these entries.