AVALONBAY COMMUNITIES INC — Director's Dealing 2013

Mar 7, 2013

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AVALONBAY COMMUNITIES INC (AVB)
CIK: 0000915912
Period of Report: 2013-03-06

Reporting Person: Breslin Sean J. (Executive Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2013-03-06	Common Stock, par value $.01 per share	M	1320	$74.20	Acquired	19281.7767	Direct
2013-03-06	Common Stock, par value $.01 per share	F	775	$126.23	Disposed	18506.7767	Direct
2013-03-06	Common Stock, par value $.01 per share	S	800	$126.41	Disposed	17706.7767	Direct
2013-03-06	Common Stock, par value $.01 per share	S	800	$126.42	Disposed	16906.7767	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2013-03-06	Employee Stock Options (Right to Buy)	$74.20	M	1320	Disposed	2020-02-11	Common Stock (1320)	Direct

Footnotes

F1: The amount of secuities owned following the reported transaction reflects direct ownership of all shares of common stock, including restricted stock.

F2: The options exercised were included in options granted under the issuer's stock option and incentive plan on February 11, 2010, which became exercisable in three annual installments beginning on February 11, 2011.

F3: Following the reported transaction, the reporting person held a total of 25,615 options to purchase the issuer's common stock granted on various dates and with varying exercise prices and vesting dates.