AVALONBAY COMMUNITIES INC — Director's Dealing 2018

Dec 6, 2018

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AVALONBAY COMMUNITIES INC (AVB)
CIK: 0000915912
Period of Report: 2018-12-03

Reporting Person: Breslin Sean J. (Chief Operating Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2018-12-03	Common Stock, par value $.01 per share	M	3100	$130.23	Acquired	39076.2405	Direct
2018-12-03	Common Stock, par value $.01 per share	S	3100	$189.13	Disposed	35976.2405	Direct
2018-12-03	Common Stock, par value $.01 per share	M	752	$132.95	Acquired	36728.2405	Direct
2018-12-03	Common Stock, par value $.01 per share	F	525	$190.71	Disposed	36203.2405	Direct
2018-12-06	Common Stock, par value $.01 per share	S	266	$188.50	Disposed	35937.2405	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2018-12-03	Stock Option (Right to Buy)	$130.23	M	3100	Disposed	2023-02-13	Common Stock (3100)	Direct
2018-12-03	Stock Option (Right to Buy)	$132.95	M	752	Disposed	2022-02-16	Common Stock (752)	Direct

Footnotes

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

F2: This transaction was executed in multiple trades at prices ranging from $189.11 to $189.22. 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.

F3: Reflects shares swapped via a stock swap option exercise to cover the exercise price of the options.

F4: The options exercised were included in options granted under the issuer's Second Amended and Restated 2009 Equity Incentive Plan on 02/13/2013, which became exercisable in three equal annual installments beginning on 02/13/2014.

F5: The options exercised were included in options granted under the issuer's Second Amended and Restated 2009 Equity Incentive Plan on 02/16/2012, which became exercisable in three equal annual installments beginning on 02/16/2013.

F6: Following the reported transaction, the reporting person holds a total of 1,544 options to purchase the issuer's common stock. The options were granted on 2/13/2013 with an exercise price of $130.23, which vested in three equal installments beginning 2/13/2014.