X0306 4 2019-05-23 0 0000915912 AVALONBAY COMMUNITIES INC AVB 0001194638 WALTER W EDWARD C/O AVALONBAY COMMUNITIES, INC. BALLSTON TOWER, 671 N. GLEBE ROAD ARLINGTON VA 22203 1 0 0 0 Common Stock, par value $.01 per share 2019-05-23 4 A 0 785 0.00 A 12932.6381 D Reflects grant of Deferred Stock Units ("Units") under the issuer's Second Amended and Restated 2009 Equity Incentive Plan, which Units are subject to vesting requirements. The Units will convert into common stock on a one to one basis when the reporting person ceases to be an employee or director of the issuer. The amount of securities owned following the reported transaction reflects direct ownership of all shares of common stock, including deferred stock units convertible into common stock, some of which may be subject to vesting requirements. By Catherine T. White, as attorney-in-fact under Power of Attorney dated as of January 21, 2009. 2019-05-28