X0306 4 2015-05-07 0 0001283630 AMERICAN CAMPUS COMMUNITIES INC ACC 0001094734 LOWENTHAL EDWARD C/O AMERICAN CAMPUS COMMUNITIES, INC 12700 HILL COUNTRY BLVD., SUITE T-200 AUSTIN TX 78738 1 0 0 0 Common stock 2015-05-07 4 M 0 1780 A 24486 D Common stock 1000 I See Footnote Restricted Stock Units 2015-05-07 4 A 0 1780 A Common Stock, par value $.01 per share 1780 1780 D Restricted Stock Units 2015-05-07 4 M 0 1780 D Common Stock, par value $.01 per share 1780 0 D Restricted stock units were fully vested on the date of grant (5/07/2015) and shares of common stock underlying the restricted stock units were settled in full by the delivery of shares of common stock. The shares of the reporting person's common stock are held by the issuer's deferred compensation plan for the benefit of the reporting person. Held by ELIL Family Holdings LLC ("ELIL"). By reason of the provisions of Rule 16a-1 of the Securities Exchange Act 1934, as amended, the reporting person may be deemed to be the beneficial owner of all of the American Campus Communities, Inc. common stock owned by ELIL, although he disclaims beneficial ownership of those shares, except to the extent of any indirect pecuniary interest therein. /s/ Jonathan A. Graf Attorney-in-fact 2015-05-11