Brown Terry S. 4

4 · AVALONBAY COMMUNITIES INC · Filed May 21, 2026

AI-generated summary of this filing

Updated May 21, 2026

AvalonBay (AVB) Director Terry S. Brown Receives Deferred Stock Units

What Happened

Terry S. Brown, a director of AvalonBay Communities, received 203 Deferred Stock Units (DSUs) on 2026-05-19. The reported acquisition price is $0.00 (Units granted in lieu of the quarterly cash director fee), so no cash changed hands. These Units convert one-for-one into common shares when the reporting person ceases to be a director.

Key Details

Transaction type: Award/Grant (Form 4 code A) — 203 Units acquired on 2026-05-19 at $0.00.
Filing date: 2026-05-21 (filed within the typical 2-business-day Form 4 window).
Shares owned after transaction: the filing notes the 203 Units are included in the reporting person's total direct holdings; the summary provided does not state the full post-transaction share total.
Footnotes: F1 — Units granted under the issuer's equity plan in lieu of quarterly cash fees; convert 1:1 to common stock after the director leaves. F2 — Reported ownership includes these Units and may be subject to vesting.

Context

This is a routine director compensation election (receiving DSUs instead of cash), not an open-market purchase or sale. Such awards are common for non-employee directors and do not by themselves indicate a buy/sell signal. The Units will become actual shares only upon the director’s departure (and may carry vesting conditions).

Form 4

Period: 2026-05-19

Director

Transactions

Award
Common Stock, par value $.01 per share
[F1][F2]
2026-05-19+203→ 19,580.642 total

Footnotes (2)

[F1]Reflects grant of Deferred Stock Units ("Units") under the issuer's Second Amended and Restated 2009 Equity Incentive Plan pursuant to an election previously made by the reporting person to receive Units in lieu of the quarterly cash director's fee otherwise due. The Units will convert into common stock on a one for one basis after the reporting person ceases to be a director of the issuer.
[F2]The amount of securities owned following the reported transaction reflects direct ownership of all shares of common stock, including Units, which may be subject to vesting requirements.

Signature

By Edward M. Schulman under Power of Attorney dated as of November 26, 2014|2026-05-21

1 file