Birenbaum Matthew H. 4

What Happened

• Matthew H. Birenbaum, Chief Investment Officer of AvalonBay Communities, received two awards on 2026-02-26: 7,926 shares of restricted stock and 12,141 shares earned from previously granted performance share units. Both acquisitions are reported as awards (code A) at $0.00 per share (no cash paid).

Key Details

• Transaction date: 2026-02-26 (Form 4 filed 2026-03-02; filing appears timely).
• Transaction type/code: A = Award/Grant.
• Shares granted: 7,926 restricted shares (F1) and 12,141 shares from earned PSUs (F3); total 20,067 shares acquired at $0.00 per share.
• Shares owned after transaction: filing notes that the amount reported reflects direct ownership including restricted shares (F2); the filing text supplied here does not state the exact post-transaction total.
• No 10b5-1 plan, tax-withholding sale, or late-filing flag noted in the provided footnotes.

Context

• The 7,926-share award is restricted stock subject to vesting under AvalonBay’s equity incentive plan; the 12,141 shares represent PSUs that vested/converted into shares. Awards and PSU payouts are routine forms of executive compensation and do not represent an open-market purchase or sale. They are informative about compensation but do not by themselves indicate the insider’s short-term trading sentiment.