AVALONBAY COMMUNITIES INC 4

Edward M. Schulman, EVP-General Counsel of AvalonBay Communities Inc., had 12,770 performance-based RSU shares deemed acquired and 36,177.7946 AVB common shares plus 6,983 stock options converted/disposed of in connection with the merger into Equity Residential on August 17, 2026.

On August 17, 2026, Edward M. Schulman, EVP-General Counsel of AvalonBay Communities Inc. (AVB), reported a merger-related restructuring of his equity holdings rather than discretionary trading. He was deemed to acquire 12,770 shares of AVB common stock under performance-based restricted stock units that vested at the merger effective time, and simultaneously his total AVB holdings of 36,177.7946 shares were disposed of as they were automatically converted into Equity Residential (EQR, renamed Vivmark Residential) equity under the agreed 2.793:1 exchange ratio. In addition, 6,983 employee stock options with a $180.32 exercise price were canceled as AVB options and converted into options on EQR shares with adjusted share count and exercise price. Using AVB’s pre-merger closing price of $184.06 per share, the deemed RSU-related acquisition was worth approximately $2.35 million and the total AVB common stock disposed was worth roughly $6.65 million, while the options represented an in‑the‑money value of about $26,400, indicating a large but mechanical change in Schulman’s ownership driven by the merger terms rather than open‑market buying or selling.

Filing Facts

CIK

915912

Ticker

AVB

Form

4

Source Type

sec

Accession

0001193125-26-354212

Alert Tier

6