GUSTAVSON TAMARA HUGHES 4

What Happened

• Tamara Gustavson, a director (non‑management trustee) of American Homes 4 Rent (AMH), was granted 5,421 restricted share units (RSUs) on 2026-05-14. The Form 4 records the acquisition price as $0.00 (transaction code A — award/grant); the filing shows a $0 acquisition value at grant.
• This was a compensation award (not an open‑market purchase or sale) meant as trustee compensation rather than an immediate investment decision.

Key Details

• Transaction date: 2026-05-14; Form 4 filed: 2026-05-18 (filed within the 2-business-day reporting window).
• Transaction type/code: A = Award/Grant (restricted share units).
• Shares/units granted: 5,421 RSUs; acquisition price reported: $0.00.
• Vesting: RSUs vest in full on the earlier of (i) one year from the grant date or (ii) the date of the next annual meeting of shareholders (footnote F1).
• Ownership reporting: The RSUs were granted to an LLC formed for the benefit of the reporting person and her family, of which she is manager (footnote F2).
• Shares owned after transaction: not specified in the provided filing details.

Context

• RSUs are compensation that convert into company shares upon vesting; they are not immediate cash or open‑market purchases. Such awards are common for board/trustee compensation and primarily reflect pay alignment with shareholders rather than a direct signal of personal buying or selling intent.
• No sale, exercise, or tax‑withholding disposition is recorded in this filing.