AVALONBAY COMMUNITIES INC — Director's Dealing 2011

Nov 10, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AVALONBAY COMMUNITIES INC (AVB)
CIK: 0000915912
Period of Report: 2011-11-08

Reporting Person: BLAIR BRYCE (Director, CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-11-08	Common Stock, par value $.01 per share	G	22858	$0.00	Disposed	298856.8211	Direct
2011-11-08	Common Stock, par value $.01 per share	S	4588	$129.9949	Disposed	294268.8211	Direct
2011-11-08	Common Stock, par value $.01 per share	S	10732	$130.809	Disposed	283536.8211	Direct

Footnotes

F1: Reflects gift of 22,858 shares

F2: The amount of securities owned following the reported transaction reflects direct ownership of all shares of common stock, including restricted shares.

F3: This transaction was executed in multiple trades at prices ranging from $129.38 to $130.36. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.

F4: This transaction was executed in multiple trades at prices ranging from $130.39 to $131.27. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.