EVP William M. McLaughlin to retire Jan 1, 2022; enters consulting agreement through Mar 2023

AVALONBAY COMMUNITIES INC

Retirement effective January 1, 2022; consulting services through March 31, 2023 at $5,000/month.
2021 annual bonus (cash and stock) paid by March 15, 2022; 2019-2021 performance units convert to fully vested shares.
Unvested restricted stock continues to vest; pro-rata vesting of 2021-2023 performance award at end of consulting term.
Company pays COBRA premiums through July 31, 2022; standard release and non-compete/non-solicit terms apply.

item 5.02 item 9.01

Executive movements

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Departed

William M. McLaughlin

Executive Vice President – Development & Construction

AVB · AVALONBAY COMMUNITIES INC

Effective: 2022-01-01
Filed: December 16, 2021, 6:59 PM ET

Mr. McLaughlin executed a Retirement Agreement on December 16, 2021 (the “Retirement Agreement”), and, as previously announced, will retire from the Company on January 1, 2022 (the “Retirement Date”).

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

William M. McLaughlin departed as Executive Vice President – Development & Construction at AVALONBAY COMMUNITIES INC.

Action: retire
Role: Executive Vice President – Development & Construction

Exact text from the filing

Mr. McLaughlin executed a Retirement Agreement on December 16, 2021 (the “Retirement Agreement”), and, as previously announced, will retire from the Company on January 1, 2022 (the “Retirement Date”).

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AVALONBAY COMMUNITIES INC filing history →

Source: SEC EDGAR

accession 0001104659-21-150559

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