AVALONBAY COMMUNITIES INC 4

Chief Investment Officer Matthew H. Birenbaum reported the merger-driven conversion and disposition of approximately 113,021 AvalonBay Communities Inc. common shares (about $20.8 million) and 17,458 AVB stock options, alongside a deemed award of 27,735 AVB performance-based shares (about $5.1 million), all transitioning into Equity Residential/Vivmark Residential equity instruments.

On August 17, 2026, AvalonBay Communities Inc. Chief Investment Officer Matthew H. Birenbaum reported transactions primarily driven by the closing of the merger of equals between AvalonBay Communities Inc. (AVB) and Equity Residential (EQR, renamed Vivmark Residential). In connection with the merger and performance-based equity awards, he had a deemed acquisition of 27,735 shares of AVB common stock via performance stock units converting into restricted equity, while simultaneously reporting disposition of his total 113,020.9425 AVB common shares as they were automatically converted into EQR equity under the 2.793:1 exchange ratio. In addition, 17,458 employee stock options on AVB common stock (exercise price $180.32) were canceled as AVB options and converted into options on EQR common shares on economically equivalent terms as specified in the merger agreement. Using the AVB closing price of $184.06 per share as a value proxy, the disposed AVB common stock was worth roughly $20.8 million, and the 27,735 deemed acquired shares were worth roughly $5.1 million at the time. After the merger, his AVB common stock and AVB options positions reported on this Form 4 go to zero, with his economic exposure continuing through converted EQR/Vivmark equity awards not quantified in AVB share terms on this filing.

Filing Facts

CIK

915912

Ticker

AVB

Form

4

Source Type

sec

Accession

0001193125-26-354224

Alert Tier

6