AvalonBay Director Charles E. Mueller Jr. Disposes 8,623 Shares

What Happened

• Charles E. Mueller Jr., a director of AvalonBay Communities, Inc. (AVB), recorded a disposition to the issuer of 8,623.527 shares on August 17, 2026. The filing lists the transaction as a disposition (code D) with no per-share price reported (N/A).
• This disposition was part of the merger of equals between AVB and Equity Residential (EQR) effective August 17, 2026. Under the merger terms each AVB share (and deferred stock unit) converted into the right to receive 2.793 EQR shares. Using that exchange ratio, the 8,623.527 AVB units converted into ~24,085.51 EQR shares. Using the Aug 14, 2026 closing price for EQR ($65.97), the converted shares are roughly $1.59 million in value (estimate based on footnote prices).

Key Details

• Transaction date: August 17, 2026. Report filed with Period of Report = 2026-08-17 (appears timely).
• Reported transaction: Disposition to issuer (D); 8,623.527 shares; price not reported in filing.
• Conversion details: Exchange ratio = 2.793 EQR shares per AVB share (Footnote F2). The filing notes the total includes AVB common stock and deferred stock units (Footnote F3).
• Post-transaction holdings: Not specified in the excerpted filing.
• Other notes: The merger closed Aug 17, 2026; EQR changed its name to Vivmark Residential (Footnote F1).

Context

• This was not an open-market sale by the director but a corporate conversion under the merger agreement — a routine disposition to the issuer in connection with the merger, not a trade signaling a personal buy/sell decision.
• Estimates of value use the closing prices cited in the filing footnotes and are approximate; the Form 4 itself reports no sale price.