AvalonBay Communities (AVB) Proxy filing summary

Executive summary

• The 2026 Annual Meeting will be held virtually on May 20, 2026, with voting on 12 director nominees, executive compensation, a new equity incentive plan, and auditor ratification.

• The Board recommends voting for all proposals, including the adoption of the 2026 Equity Incentive Plan and ratification of Ernst & Young LLP as independent auditors.

• The proxy statement includes detailed information on board composition, governance, compensation, risk oversight, and ESG initiatives.

Voting matters and shareholder proposals

• Proposals include election of 12 directors, advisory approval of executive compensation, approval of the 2026 Equity Incentive Plan, and ratification of auditors.

• Shareholders may submit questions and vote online before and during the meeting.

• Proxy access and shareholder proposal procedures are outlined, with deadlines for 2027 proposals set for December 7, 2026.

Board of directors and corporate governance

• The board consists of 12 members, with 10 independent directors, 3 women, and 2 African American members.

• Board committees include Audit, Compensation, Nominating/Governance/Corporate Responsibility, and Investment/Finance.

• Annual board and committee self-evaluations are conducted, and succession planning emphasizes board refreshment.

• Lead Independent Director and non-executive Chairman roles are established for governance continuity.

• Directors are subject to stock ownership guidelines and a comprehensive code of ethics.