SCHULMAN EDWARD M 4

What Happened Edward M. Schulman, EVP and General Counsel of AvalonBay Communities (AVB), had 2,783 shares withheld by the company to satisfy tax-withholding obligations related to the vesting of restricted stock/performance share unit awards. The withheld shares were valued at $177.23 each, for a total of approximately $493,231. The Form 4 reports this withholding as a disposition (transaction code F).

Key Details

• Transaction date: 2026-03-01; Form filed: 2026-03-03 (appears timely).
• Price per share: $177.23; shares withheld/disposed: 2,783; total value ≈ $493,231.
• Footnote F1: Company withheld shares to cover tax withholding on vesting of restricted stock and performance share unit awards under the 2009 Equity Incentive Plan.
• Footnote F2: The reported post-transaction holdings reflect direct ownership of all common shares, including restricted shares (the filing does not list a separate post-transaction share count in the summary provided).
• Transaction code: F (tax withholding) — not an open-market sale or purchase.

Context This was an administrative tax-withholding transaction tied to award vesting, a common occurrence when restricted shares or performance units vest. Such withholdings are routine and do not necessarily indicate the insider's view on the stock. The filing shows proceeds/valuation but no new market-directed sale or purchase by the insider.