AVALONBAY COMMUNITIES INC — Director's Dealing 2014

May 15, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AVALONBAY COMMUNITIES INC (AVB)
CIK: 0000915912
Period of Report: 2014-05-13

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-05-13	Common Stock, par value $.01 per share	S	1000	$140.9706	Disposed	21693.0525	Direct

Footnotes

F1: This transaction was executed in multiple trades at prices ranging from $140.9601 to $140.9950. 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 secuities owned following the reported transaction reflects direct ownership of all shares of common stock, including restricted stock.