Benjamin Schall - 17 Aug 2026 Form 4 Insider Report for AVALONBAY COMMUNITIES INC (AVB)

Reporting relationship: CEO & President, Director
Issuer ticker: AVB
Reported as of: 17 Aug 2026
Net transaction value: $0
SEC form: 4
Accepted by SEC: 17 Aug 2026, 16:46:52 UTC
Prior SEC filing: 01 May 2026
Source filing: View source filing
Reporting owner signature: Edward M. Schulman, as attorney-in-fact under Power of Attorney dated January 19, 2021

Key filing fact

Benjamin Schall filed Form 4 for AVALONBAY COMMUNITIES INC (AVB) on 17 Aug 2026.

Key facts

This page summarizes Benjamin Schall's Form 4 filing for AVALONBAY COMMUNITIES INC (AVB).
7 reported transactions and 5 derivative rows are listed below.
Accepted by SEC: 17 Aug 2026, 16:46.

Change

Previous filing in this sequence was filed on 01 May 2026.
Current net transaction value: $0.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reporting Owners (1)

CIK 0001544531 Primary reporting owner

Schall Benjamin

Relationship: CEO & President, Director
Address: C/O AVALONBAY COMMUNITIES, INC., 4040 WILSON BOULEVARD STE 1000, ARLINGTON
Signature: Edward M. Schulman, as attorney-in-fact under Power of Attorney dated January 19, 2021
Signature date: 17 Aug 2026

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

AVB transaction

Common Stock, par value $.01 per share

Award

Transaction value
Shares: +78,257
Change %: +78%
Price: $0.000000^*
Shares after: 178,820
Date: 17 Aug 2026
Ownership: Direct
Footnotes: F1, F4

AVB transaction

Common Stock, par value $.01 per share

Disposed to Issuer

Transaction value
Shares: -178,820
Change %: -100%
Price: $0.000000^*
Shares after: 0
Date: 17 Aug 2026
Ownership: Direct
Footnotes: F2, F3

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

AVB transaction Derivative

Employee Stock Options (Right to Buy)

Disposed to Issuer

Transaction value
Shares: -21,772
Change %: -100%
Price
Shares after: 0
Date: 17 Aug 2026
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 21,772
Exercise price: $179.67
Footnotes: F5, F6

AVB transaction Derivative

Employee Stock Options (Right to Buy)

Disposed to Issuer

Transaction value
Shares: -9,473
Change %: -100%
Price
Shares after: 0
Date: 17 Aug 2026
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 9,473
Exercise price: $221.58
Footnotes: F5, F7

AVB transaction Derivative

Employee Stock Options (Right to Buy)

Disposed to Issuer

Transaction value
Shares: -12,651
Change %: -100%
Price
Shares after: 0
Date: 17 Aug 2026
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 12,651
Exercise price: $172.11
Footnotes: F5, F8

AVB transaction Derivative

Employee Stock Options (Right to Buy)

Disposed to Issuer

Transaction value
Shares: -10,073
Change %: -100%
Price
Shares after: 0
Date: 17 Aug 2026
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 10,073
Exercise price: $177.83
Footnotes: F5, F9

AVB transaction Derivative

Employee Stock Options (Right to Buy)

Disposed to Issuer

Transaction value
Shares: -8,304
Change %: -100%
Price
Shares after: 0
Date: 17 Aug 2026
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 8,304
Exercise price: $236.14
Footnotes: F5, F10

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Section 16 status

Benjamin Schall is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may still apply in specific circumstances.

Explanation of responses 10 footnotes

Footnote F1

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.

Footnote F2

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.

Footnote F3

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.

Footnote F4

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.

Footnote F5

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).

Footnote F6

These options vest in three equal annual installments, with the first installment vesting on 3/1/2027.

Footnote F7

These options vest in three equal annual installments, with the first installment having vested on 3/1/2026.

Footnote F8

These options vest in three equal annual installments, with the first installment having vested on 3/1/2025.

Footnote F9

These options vest in three equal annual installments, with the first installment having vested on 3/1/2024.

Footnote F10

These options vest in three equal annual installments, with the first installment having vested on 3/1/2023.