AVALONBAY COMMUNITIES INC — Director's Dealing 2017

May 2, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AVALONBAY COMMUNITIES INC (AVB)
CIK: 0000915912
Period of Report: 2017-05-01

Reporting Person: HOREY LEO S III (Chief Administrative Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-03-06	Common Stock, par value $.01 per share	G	1000	$0.00	Disposed	43601.1765	Direct
2017-05-01	Common Stock, par value $.01 per share	S	3000	$190.25	Disposed	40601.1765	Direct

Footnotes

F1: Reflects gift of 1,000 shares.

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