AVALONBAY COMMUNITIES INC — Director's Dealing 2012

Mar 9, 2012

SEC Form 4/A — Form 4/A

Issuer: AVALONBAY COMMUNITIES INC (AVB)
CIK: 0000915912
Period of Report: 2012-02-13

Reporting Person: HOREY LEO S III (Executive Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-02-13	Common Stock, par value $.01 per share	M	12614	$96.19	Acquired	90946.7376	Direct
2012-02-13	Common Stock, par value $.01 per share	S	12614	$135.2517	Disposed	78332.7376	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-02-13	Employee Stock Options (Right to Buy)	$96.19	M	12614	Disposed	2016-02-09	Common Stock (12614)	Direct

Footnotes

F1: The original Form 4 reporting this transaction reported the sale of shares, but inadvertently omitted the related exercise of options.

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 $135.25 to $135.31. 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: The options exercised were included in options granted under the issuer's stock option and incentive plan on February 9, 2006, which become exercisable in three annual installments beginning on February 9, 2007.

F5: Following the reported transaction, the reporting person held a total of 81,809 options to purchase the issuer's common stock granted on various dates and with varying exercise prices and vesting dates.