AVALONBAY COMMUNITIES INC 4

Director Terry S. Brown disposed of 20,855.9231 AvalonBay Communities (AVB) deferred stock units, valued at about $3.8 million, in an automatic merger-related conversion into Equity Residential/Vivmark Residential shares.

On August 17, 2026, reporting person Terry S. Brown disposed of 20,855.9231 shares of AvalonBay Communities, Inc. (AVB) common stock, representing deferred stock units, in connection with the closing of AVB’s merger of equals with Equity Residential (now Vivmark Residential). The disposition, coded as a transaction type “D,” reflects an automatic, non‑discretionary conversion of AVB deferred stock units into the right to receive Equity Residential common shares at a fixed exchange ratio of 2.793 EQR shares per AVB unit at the effective time of the merger, rather than an open‑market sale. Using the pre‑merger AVB closing price of $184.06 on August 14, 2026, the transaction implies an economic value of roughly $3.84 million for the units converted. Following this merger-related conversion, the reporting person’s direct ownership in AVB common stock is reported as zero shares, as AVB was combined into a subsidiary of Equity Residential and ceased to exist as a standalone issuer.

Filing Facts

CIK

915912

Ticker

AVB

Form

4

Source Type

sec

Accession

0001193125-26-354195

Alert Tier

6