AVALONBAY COMMUNITIES INC — Director's Dealing 2018

Nov 23, 2018

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AVALONBAY COMMUNITIES INC (AVB)
CIK: 0000915912
Period of Report: 2018-11-20

Reporting Person: McLaughlin William M (Executive Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2018-11-20	Common Stock, par value $.01 per share	M	8164	$130.23	Acquired	59683.259	Direct
2018-11-20	Common Stock, par value $.01 per share	M	7297	$115.83	Acquired	66980.259	Direct
2018-11-20	Common Stock, par value $.01 per share	M	7841	$132.95	Acquired	74821.259	Direct
2018-11-20	Common Stock, par value $.01 per share	S	15639	$186.5903	Disposed	59182.259	Direct
2018-11-20	Common Stock, par value $.01 per share	S	7163	$187.3878	Disposed	52019.259	Direct
2018-11-20	Common Stock, par value $.01 per share	S	500	$188.12	Disposed	51519.259	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2018-11-20	Stock Options (Right to Buy)	$130.23	M	8164	Disposed	2023-02-13	Common Stock (8164)	Direct
2018-11-20	Stock Options (Right to Buy)	$115.83	M	7297	Disposed	2021-02-16	Common Stock (7297)	Direct
2018-11-20	Stock Options (Right to Buy)	$132.95	M	7841	Disposed	2022-02-16	Common Stock (7841)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock, par value $.01 per share	3360	Indirect

Footnotes

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

F2: The transaction was executed in multiple trades at prices ranging from $186.00 to $186.99. 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: This transaction was executed in multiple trades at prices ranging from $187.00 to $187.96. 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.

F4: This transaction was executed in multiple trades at prices ranging from $188.00 to $188.18. 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.

F5: No transaction is reported. The amount of securities owned indirectly following the reported transactions is included for information purposes only.

F6: 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 equal annual installments beginning on February 13, 2014.

F7: The options exercised were included in options granted under the issuer's stock option and incentive plan on February 16, 2011, which became exercisable in three equal annual installments beginning on February 16, 2012.

F8: The options exercised were included in options granted under the issuer's stock option and incentive plan on February 16, 2012, which became exercisable in three equal annual installments beginning on February 16, 2013.

F9: Following the reported transaction, the reporting person holds no options to purchase the issuer's common stock.