Pay vs Performance Disclosure

12 Months Ended

Dec. 31, 2022

USD ($)

$ / shares

Dec. 31, 2021

USD ($)

$ / shares

Dec. 31, 2020

USD ($)

$ / shares

Pay vs Performance Disclosure [Table]

Pay vs Performance [Table Text Block]

PAY VERSUS PERFORMANCE

In accordance with rules adopted by the SEC pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, we provide the following disclosure regarding executive CAP and certain MAA performance for the fiscal years listed below. You should refer to the Compensation Disclosure and Analysis section of this Proxy Statement for a complete description of how executive compensation relates to our performance and how the Compensation Committee makes its decisions.

					Value of Initial Fixed $100 Investment Based On:
Year (a)	Summary Compensation Table Total for PEO (b)	Compensation Actually Paid to PEO (c)	Average Summary Compensation Table Total for Non-PEO NEOs (d)	Average Compensation Actually Paid to Non-PEO NEOs (e)	Total Shareholder Return (f)	Peer Group Total Shareholder Return (g)	Net Income (in thousands) (h)	Company Selected Measure Core FFO per Share (i)
2020	$4,725,312	$   4,657,228	$  1,959,200	$   1,950,573	$    99.32	$    88.07	$  264,015	$  6.43
2021	$7,667,655	$ 22,312,216	$  2,855,123	$   8,092,843	$  184.54	$  142.47	$  550,702	$  7.01
2022	$8,369,017	$   2,852,716	$  3,144,347	$   1,269,983	$  129.63	$    96.76	$  654,776	$  8.50

Column (b): Represents the Total amount in the Summary Compensation Table for Mr. Bolton, our CEO, for all years shown.

Column (c): CAP to Mr. Bolton, our CEO, was calculated as outlined below.

PEO	2020	2021	2022
SCT Total Compensation	$    4,725,312	$    7,667,655	$    8,369,017
Less: Stock and Option Award Values Reported in SCT	(2,852,176)	(3,742,806)	(4,123,473)
Plus: Fair Value for Stock and Option Awards Granted	3,737,339	9,658,031	3,478,219
Change in Fair Value of Outstanding Unvested Stock and Option Awards from Prior Years	277,089	7,960,118	(4,189,587)
Change in Fair Value of Stock and Option Awards from Prior Years that Vested	(1,230,336)	769,218	(681,460)
Less: Fair Value of Stock and Option Awards Forfeited	-	-	-
Less: Aggregate Change in Actuarial Present Value of Accumulated Benefit Under Pension Plans	-	-	-
Plus: Aggregate Service Cost and Prior Service Cost for Pension Plans	-	-	-
CAP	$    4,657,228	$    22,312,216	$    2,852,716

Column (d): Represents the average Total amount in the Summary Compensation Table for the Non-PEO NEOs for each respective year. In 2020, our NEOs, other than the CEO, were Messrs. Campbell, DelPriore and Grimes, and Melanie Carpenter. In 2021 and 2022, our NEOs, other than the CEO, were Messrs. Campbell, DelPriore, Grimes and Hill.

Column (e): Average CAP to each year’s Non-PEO NEOs was calculated as outlined below.

Average of NEOs	2020	2021	2022
SCT Total Compensation	$    1,959,200	$    2,855,123	$    3,144,347
Less: Stock and Option Award Values Reported in SCT	(1,059,644)	(1,258,533)	(1,253,096)
Plus: Fair Value for Stock and Option Awards Granted	1,389,290	3,247,309	1,056,848
Change in Fair Value of Outstanding Unvested Stock and Option Awards from Prior Years	107,852	2,968,733	(1,418,158)
Change in Fair Value of Stock and Option Awards from Prior Years that Vested	(446,125)	280,211	(259,958)
Less: Fair Value of Stock and Option Awards Forfeited	-	-	-
Less: Aggregate Change in Actuarial Present Value of Accumulated Benefit Under Pension Plans	-	-	-
Plus: Aggregate Service Cost and Prior Service Cost for Pension Plans	-	-	-
CAP	$    1,950,573	$    8,092,843	$    1,269,983

Column (f): Represents the cumulative value of $100 invested in MAA on December 31, 2019 through the last day of each respective year.

Column (g): Represents the cumulative value of $100 invested in the Dow Jones U.S. Real Estate Apartment Index, (the comparative index used in our incentive plans for performance share grants tied to multi-year relative TSR), on December 31, 2019 through the last day of each respective year.

Column (h): Represents the Net Income of MAA for each respective year, as expressed in thousands.

Column (i): Besides the relative 3-Year TSR metric in our incentive plans for NEOs, the largest performance compensation metric is Core FFO per share, a key metric for assessing our overall financial performance and the primary award financial metric within the AIP plan for our NEOs. For a reconciliation of Core FFO per Share to our financial statements see pages 94-95.

Company Selected Measure Name

Core FFO per Share

Named Executive Officers, Footnote [Text Block]

Column (d): Represents the average Total amount in the Summary Compensation Table for the Non-PEO NEOs for each respective year. In 2020, our NEOs, other than the CEO, were Messrs. Campbell, DelPriore and Grimes, and Melanie Carpenter. In 2021 and 2022, our NEOs, other than the CEO, were Messrs. Campbell, DelPriore, Grimes and Hill.

Peer Group Issuers, Footnote [Text Block]

Column (g): Represents the cumulative value of $100 invested in the Dow Jones U.S. Real Estate Apartment Index, (the comparative index used in our incentive plans for performance share grants tied to multi-year relative TSR), on December 31, 2019 through the last day of each respective year.

PEO Total Compensation Amount

$ 8,369,017

$ 7,667,655

$ 4,725,312

PEO Actually Paid Compensation Amount

$ 2,852,716

22,312,216

4,657,228

Adjustment To PEO Compensation, Footnote [Text Block]

Column (c): CAP to Mr. Bolton, our CEO, was calculated as outlined below.

PEO	2020	2021	2022
SCT Total Compensation	$    4,725,312	$    7,667,655	$    8,369,017
Less: Stock and Option Award Values Reported in SCT	(2,852,176)	(3,742,806)	(4,123,473)
Plus: Fair Value for Stock and Option Awards Granted	3,737,339	9,658,031	3,478,219
Change in Fair Value of Outstanding Unvested Stock and Option Awards from Prior Years	277,089	7,960,118	(4,189,587)
Change in Fair Value of Stock and Option Awards from Prior Years that Vested	(1,230,336)	769,218	(681,460)
Less: Fair Value of Stock and Option Awards Forfeited	-	-	-
Less: Aggregate Change in Actuarial Present Value of Accumulated Benefit Under Pension Plans	-	-	-
Plus: Aggregate Service Cost and Prior Service Cost for Pension Plans	-	-	-
CAP	$    4,657,228	$    22,312,216	$    2,852,716

Non-PEO NEO Average Total Compensation Amount

$ 3,144,347

2,855,123

1,959,200

Non-PEO NEO Average Compensation Actually Paid Amount

$ 1,269,983

8,092,843

1,950,573

Adjustment to Non-PEO NEO Compensation Footnote [Text Block]

Column (e): Average CAP to each year’s Non-PEO NEOs was calculated as outlined below.

Average of NEOs	2020	2021	2022
SCT Total Compensation	$    1,959,200	$    2,855,123	$    3,144,347
Less: Stock and Option Award Values Reported in SCT	(1,059,644)	(1,258,533)	(1,253,096)
Plus: Fair Value for Stock and Option Awards Granted	1,389,290	3,247,309	1,056,848
Change in Fair Value of Outstanding Unvested Stock and Option Awards from Prior Years	107,852	2,968,733	(1,418,158)
Change in Fair Value of Stock and Option Awards from Prior Years that Vested	(446,125)	280,211	(259,958)
Less: Fair Value of Stock and Option Awards Forfeited	-	-	-
Less: Aggregate Change in Actuarial Present Value of Accumulated Benefit Under Pension Plans	-	-	-
Plus: Aggregate Service Cost and Prior Service Cost for Pension Plans	-	-	-
CAP	$    1,950,573	$    8,092,843	$    1,269,983

Compensation Actually Paid vs. Total Shareholder Return [Text Block]

Below are graphs that reflect the relationship between CAP to our CEO and other NEOs against the market and financial metrics included in the Pay versus Performance table on the previous page.

The relationship between CAP to our PEO and Average CAP to our Non-PEO NEOs to the Value of an Initial Fixed $100 Investment Based on cumulative TSR and cumulative Peer Group TSR is presented in the following chart.	The relationship between CAP to our PEO and Average CAP to our Non-PEO NEOs to Core FFO per Share is presented in the following chart.

Compensation Actually Paid vs. Net Income [Text Block]

Below are graphs that reflect the relationship between CAP to our CEO and other NEOs against the market and financial metrics included in the Pay versus Performance table on the previous page.

The relationship between CAP to our PEO and Average CAP to our
Non-PEO NEOs to Net Income is presented in the following chart.

 

Compensation Actually Paid vs. Company Selected Measure [Text Block]

Below are graphs that reflect the relationship between CAP to our CEO and other NEOs against the market and financial metrics included in the Pay versus Performance table on the previous page.

The relationship between CAP to our PEO and Average CAP to our Non-PEO NEOs to the Value of an Initial Fixed $100 Investment Based on cumulative TSR and cumulative Peer Group TSR is presented in the following chart.	The relationship between CAP to our PEO and Average CAP to our Non-PEO NEOs to Core FFO per Share is presented in the following chart.

Total Shareholder Return Vs Peer Group [Text Block]

Below are graphs that reflect the relationship between CAP to our CEO and other NEOs against the market and financial metrics included in the Pay versus Performance table on the previous page.

The relationship between CAP to our PEO and Average CAP to our Non-PEO NEOs to the Value of an Initial Fixed $100 Investment Based on cumulative TSR and cumulative Peer Group TSR is presented in the following chart.	The relationship between CAP to our PEO and Average CAP to our Non-PEO NEOs to Core FFO per Share is presented in the following chart.

Tabular List [Table Text Block]

The below list of financial measures represents the measures the Compensation Committee felt were the most important measures in linking executive CAP to our performance during 2022. Consequently, these measures were used in our compensation incentive plans to link awards to performance realized.

3-Year TSR of MAA versus 3-Year TSR of the Dow Jones US Real Estate Apartment Index

Annual Core FFO per Share

Annual SS NOI Growth

Annual FAD

Total Shareholder Return Amount

$ 129.63

184.54

99.32

Peer Group Total Shareholder Return Amount

96.76

142.47

88.07

Net Income (Loss)

$ 654,776,000

$ 550,702,000

$ 264,015,000

Company Selected Measure Amount | $ / shares

8.5

7.01

6.43

PEO Name

Mr. Bolton

Mr. Bolton

Mr. Bolton

Measure [Axis]: 1

Pay vs Performance Disclosure [Table]

Measure Name

3-Year TSR of MAA versus 3-Year TSR of the Dow Jones US Real Estate Apartment Index

Measure [Axis]: 2

Pay vs Performance Disclosure [Table]

Measure Name

Annual Core FFO per Share

Non-GAAP Measure Description [Text Block]

Column (i): Besides the relative 3-Year TSR metric in our incentive plans for NEOs, the largest performance compensation metric is Core FFO per share, a key metric for assessing our overall financial performance and the primary award financial metric within the AIP plan for our NEOs. For a reconciliation of Core FFO per Share to our financial statements see pages 94-95.

Measure [Axis]: 3

Pay vs Performance Disclosure [Table]

Measure Name

Annual SS NOI Growth

Measure [Axis]: 4

Pay vs Performance Disclosure [Table]

Measure Name

Annual FAD

PEO [Member] | Stock and Option Award Values Reported in SCT [Member]

Pay vs Performance Disclosure [Table]

Adjustment to Compensation Amount

$ (4,123,473)

$ (3,742,806)

$ (2,852,176)

PEO [Member] | Fair Value for Stock and Option Awards Granted [Member]

Pay vs Performance Disclosure [Table]

Adjustment to Compensation Amount

3,478,219

9,658,031

3,737,339

PEO [Member] | Change in Fair Value of Outstanding Unvested Stock and Option Awards from Prior Years [Member]

Pay vs Performance Disclosure [Table]

Adjustment to Compensation Amount

(4,189,587)

7,960,118

277,089

PEO [Member] | Change in Fair Value of Stock and Option Awards from Prior Years That Vested [Member]

Pay vs Performance Disclosure [Table]

Adjustment to Compensation Amount

(681,460)

769,218

(1,230,336)

PEO [Member] | Fair Value of Stock and Option Awards Forfeited [Member]

Pay vs Performance Disclosure [Table]

Adjustment to Compensation Amount

0

0

0

PEO [Member] | Aggregate Change in Actuarial Present Value of Accumulated Benefit Under Pension Plans [Member]

Pay vs Performance Disclosure [Table]

Adjustment to Compensation Amount

0

0

0

PEO [Member] | Aggregate Service Cost and Prior Service Cost for Pension Plans [Member]

Pay vs Performance Disclosure [Table]

Adjustment to Compensation Amount

0

0

0

Non-PEO NEO [Member] | Stock and Option Award Values Reported in SCT [Member]

Pay vs Performance Disclosure [Table]

Adjustment to Compensation Amount

(1,253,096)

(1,258,533)

(1,059,644)

Non-PEO NEO [Member] | Fair Value for Stock and Option Awards Granted [Member]

Pay vs Performance Disclosure [Table]

Adjustment to Compensation Amount

1,056,848

3,247,309

1,389,290

Non-PEO NEO [Member] | Change in Fair Value of Outstanding Unvested Stock and Option Awards from Prior Years [Member]

Pay vs Performance Disclosure [Table]

Adjustment to Compensation Amount

(1,418,158)

2,968,733

107,852

Non-PEO NEO [Member] | Change in Fair Value of Stock and Option Awards from Prior Years That Vested [Member]

Pay vs Performance Disclosure [Table]

Adjustment to Compensation Amount

(259,958)

280,211

(446,125)

Non-PEO NEO [Member] | Fair Value of Stock and Option Awards Forfeited [Member]

Pay vs Performance Disclosure [Table]

Adjustment to Compensation Amount

0

0

0

Non-PEO NEO [Member] | Aggregate Change in Actuarial Present Value of Accumulated Benefit Under Pension Plans [Member]

Pay vs Performance Disclosure [Table]

Adjustment to Compensation Amount

0

0

0

Non-PEO NEO [Member] | Aggregate Service Cost and Prior Service Cost for Pension Plans [Member]

Pay vs Performance Disclosure [Table]

Adjustment to Compensation Amount

$ 0

$ 0

$ 0