Flynn Conor C 4

What Happened
Conor C. Flynn, a director of AvalonBay Communities, was granted 1,082 Deferred Stock Units on May 28, 2026. The award was reported as 1,082 units at $0.00 (total reported value $0). These Units are subject to vesting requirements and will convert into common stock on a one-for-one basis after Flynn ceases to be a director.

Key Details

• Transaction date: 2026-05-28 (Form 4 filed 2026-06-01; filing appears timely under the two-business-day rule).
• Transaction type: Award/Grant (code A).
• Quantity and price: 1,082 Deferred Stock Units @ $0.00; reported total value $0.
• Shares owned after transaction: Filing notes direct ownership includes these Units; no separate total share count provided in the excerpt.
• Footnotes: F1 — Units granted under the 2026 Equity Incentive Plan; subject to vesting and convert 1:1 to common stock after director service ends. F2 — Post-transaction ownership reported includes Units which may be unvested.

Context
Deferred Stock Units are a form of compensation that convert to shares later and are not an open-market purchase or sale. Such awards are common for directors and do not, by themselves, indicate a buy or sell signal; they reflect compensation and retention practice rather than immediate insider opinion on the stock.