AVB Director Ronald Havner Disposes 21,149 Shares in Merger

What Happened

• Ronald L. Havner Jr., a director of AvalonBay Communities, Inc. (AVB), recorded a disposition to the issuer of 21,149.881 shares on August 17, 2026. The Form 4 reports the shares as disposed with no per-share price listed (N/A). Using AVB's last reported close on August 14, 2026 ($184.06), the position would be roughly $3.89 million (approximate — not reported on the Form 4).
• This transaction is reported in the context of AVB’s merger with Equity Residential (EQR) that became effective August 17, 2026; the filing indicates the disposition is tied to the Merger and conversion of certain deferred stock units.

Key Details

• Transaction date: August 17, 2026 — disposition to issuer (code D); price: N/A on the Form 4.
• Shares disposed: 21,149.881.
• Shares owned after transaction: not disclosed on the filing.
• Relevant footnotes: The Merger Agreement (May 20, 2026) combined AVB and EQR; at the Effective Time deferred stock units were converted into the right to receive 2.793 EQR shares (Exchange Ratio). EQR subsequently changed its name to Vivmark Residential. The reported total includes deferred stock units.
• Timeliness: Filing date equals transaction date (filed Aug 17, 2026), so the Form 4 appears timely.

Context

• This disposition appears related to the corporate merger and the conversion/surrender of AVB holdings rather than an ordinary open-market sale; the Form 4 does not show an open-market price or a cash sale. The conversion mechanics (deferred stock units exchanged for EQR/Vivmark shares at a stated exchange ratio) are summarized in the footnotes.
• No assumptions about personal trading intent should be made from this filing; it documents the mechanics of the Merger and the resulting disposition/conversion of AVB-held interests.