Claude B. Nielsen - May 16, 2023 Form 4 Insider Report for MID AMERICA APARTMENT COMMUNITIES INC. (MAA)

Role: Director
Signature: /s/ Kellye Clouse
Stock symbol: MAA
Transactions as of: May 16, 2023
Transactions value $: $162,470
Form type: 4
Date filed: 5/17/2023, 04:32 PM
Previous filing: May 19, 2022
Next filing: May 22, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	MAA	Common Stock						12.1K	May 16, 2023	Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	MAA	Phantom Stock	Award	$162K	+1.09K	+7.32%	$148.51	16K	May 16, 2023	Common Stock	1.09K	$0.00	Direct	F1
holding	MAA	Limited Partnership Units						2.11K	May 16, 2023	Common Stock	2.11K		Direct	F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Each share of phantom stock is the economic equivalent of one share of common stock. The shares of phantom stock are payable in two equal annual installments beginning within the 90 days following the calendar year in which the reporting person ceases to serve as a director, in cash or common stock, at the election of the reporting person.
F2	Units are redeemable for an equal number of shares of the issuer's Common Stock or, at the election of the issuer, cash equal to the fair market value of such shares. Units have no expiration date.