Lieb Richard J 4

What Happened
Richard J. Lieb, a director of AvalonBay Communities, Inc. (AVB), received a grant of 1,082 Deferred Stock Units (DSUs) on 2026-05-28. The Form 4 filed 2026-06-01 reports the acquisition at $0.00 per unit (transaction code A — award/grant). This was a compensation award, not an open-market purchase or sale.

Key Details

• Transaction date: 2026-05-28; Form 4 filed: 2026-06-01 (timely filing).
• Transaction type/code: Award/Grant (A).
• Amount: 1,082 Deferred Stock Units @ $0.00 (reported acquisition value $0).
• Shares owned after transaction: filing states ownership includes these Units; the filing excerpt provided does not list a total post-transaction share count.
• Footnotes:
  • F1: Units granted under the 2026 Equity Incentive Plan are subject to vesting and will convert 1:1 into common stock after the reporting person ceases to be a director.
  • F2: Post-transaction ownership reported includes direct ownership of common stock and Units, which may be subject to vesting.
• No 10b5-1 plan, tax-withholding sale, or option exercise was indicated in this filing.

Context
Deferred Stock Units are a form of director compensation that typically vest over time (or convert upon departure) and do not represent an immediate cash purchase or sale. Such awards are routine for board members and are not, by themselves, a clear bullish or bearish signal about the company’s near-term prospects.