AVALONBAY COMMUNITIES INC — Director's Dealing 2012

Jun 5, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AVALONBAY COMMUNITIES INC (AVB)
CIK: 0000915912
Period of Report: 2012-06-04

Reporting Person: SCHULMAN EDWARD M (EVP-General Counsel)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-06-04	Common Stock, par value $.01 per share	S	2500	$135.0121	Disposed	12236.4568	Direct

Footnotes

F1: This transaction was executed in multiple trades at prices ranging from $135.012 to $135.015. 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.

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