AvalonBay Communities (AVB) CEO Schall received 78,257 shares

Insider transactions reported

Benjamin Schall (CEO & President at AvalonBay Communities Inc., AVB) reported that they received 78,257 shares, and returned to the company 178,819.76 shares on Aug 17, 2026. After these transactions the filing shows 0 shares held directly.

Reporting person

Schall Benjamin

Role

CEO & President

Options and other derivatives

Holdings before and after

• Common Stock, par value $.01 per share: 100,562.7606 to 0 direct
• Employee Stock Options (Right to Buy): 21,772 to 0 direct

Footnotes from the filing

1. 1. Represents the deemed acquisition of common stock, par value $0.01 per share ( AVB Common Stock ), of AvalonBay Communities, Inc., a Maryland corporation ( AVB ), pursuant to restricted stock units that were subject to performance-based vesting conditions (each, a PSU ), which were previously granted to the Reporting Person. The number of PSUs reflects deemed achievement at the greater of actual performance and the target level for each respective award, as determined by the Compensation Committee of AVB effective as of the Effective Time (as defined below), and the PSUs converted into the right to receive restricted shares of Equity Residential, a Maryland real estate investment trust ( EQR ) or limited partnership interests in ERP Operating Limited Partnership, an Illinois limited partnership ( ERP OP ), the operating partnership of EQR, in each case, subject to the same time-based vesting conditions that were previously applicable to the PSUs.
2. 2. Pursuant to the Agreement and Plan of Merger, dated as of May 20, 2026 (the Merger Agreement ), by and among AVB, EQR, ERP OP, and Canopy Merger Sub LLC, a Maryland limited liability company ( Merger Sub ), AVB and EQR combined in a merger of equals on August 17, 2026, with AVB merging with and into Merger Sub, with Merger Sub surviving as a wholly owned subsidiary of EQR (the Merger ). In connection with the Merger, EQR changed its name to Vivmark Residential.
3. 3. At the effective time of the Merger (the Effective Time ), each issued and outstanding share of AVB Common Stock held by the Reporting Person was automatically converted into the right to receive 2.793 (the Exchange Ratio ) common shares of beneficial interest, $0.01 par value per share ( EQR Common Shares ), of EQR, plus the right to receive cash in lieu of fractional EQR Common Shares, if any, into which such AVB Common Stock would have been converted. On August 14, 2026, the closing price of AVB Common Stock was $184.06 per share and the closing price of EQR Common Shares was $65.97 per share.
4. 4. This total includes shares of AVB Common Stock, restricted shares, PSUs deemed to have been earned as of the Effective Time and shares acquired through AVB's Employee Stock Purchase Plan.
5. 5. Pursuant to the Merger Agreement, effective as of the Effective Time, the Reporting Person's options to acquire AVB Common Stock that were outstanding at the Effective Time were converted into the right to receive options to acquire EQR Common Shares, where the number of EQR Common Shares subject to such converted option is equal to (i) the number of shares of AVB Common Stock subject to the corresponding AVB option award immediately prior to the Effective Time multiplied by (ii) the Exchange Ratio (rounded down to the nearest whole number of shares), and the exercise price of each converted option award is equal to (A) the exercise price of the corresponding AVB option award immediately prior to the Effective Time divided by (B) the Exchange Ratio (rounded up to the nearest whole cent).
6. 6. These options vest in three equal annual installments, with the first installment vesting on 3/1/2027.
7. 7. These options vest in three equal annual installments, with the first installment having vested on 3/1/2026.

Transaction codes in this filing

Grant or award:

Code A marks a grant or award from the company under an exempt employee or director plan. Usually nothing is paid for it.

Sale back to the company:

Code D marks a disposition back to the company under an exempt plan, as opposed to a sale in the market.

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