AVALONBAY COMMUNITIES INC — Director's Dealing 2016

Aug 9, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AVALONBAY COMMUNITIES INC (AVB)
CIK: 0000915912
Period of Report: 2016-08-08

Reporting Person: Birenbaum Matthew H. (Chief Investment Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-08-02	Common Stock, par value $.01 per share	G	250	$0.00	Disposed	31376	Direct
2016-08-08	Common Stock, par value $.01 per share	M	4940	$130.23	Acquired	36316	Direct
2016-08-08	Common Stock, par value $.01 per share	M	2044	$126.78	Acquired	38360	Direct
2016-08-08	Common Stock, par value $.01 per share	S	6984	$185.00	Disposed	31376	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-08-08	Employee Stock Options (Right to Buy)	$130.23	M	4940	Disposed	2023-02-13	Common Stock (4940)	Direct
2016-08-08	Employee Stock Options (Right to Buy)	$126.78	M	2044	Disposed	2023-03-13	Common Stock (2044)	Direct

Footnotes

F1: Reflects gift of 250 shares.

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

F3: The options exercised were included in options granted under the issuer's stock option and incentive plan on February 13, 2013, which became exercisable in three annual installments beginning on February 13, 2014

F4: The options exercised were included in options granted under the issuer's stock option and incentive plan on March 13, 2013, which became exercisable in three annual installments beginning on March 13, 2014

F5: Following the reported transactions, the reporting person does not hold any options to purchase.