secwatch.observer — SEC 8-K summary
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Issuer:     AVALONBAY COMMUNITIES INC (AVB)
CIK:        0000915912
Form:       8-K
Filed at:   2022-11-10T23:59:59+00:00
Accession:  0001104659-22-117110
Event type: leadership
Sentiment:  neutral
Materiality: 0.60
Item codes: 5.02, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

AvalonBay Executive Chairman Naughton to become non-executive Chairman effective Jan 1, 2023
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- Timothy J. Naughton transitions from Executive Chairman to non-executive Chairman, effective Jan 1, 2023.
- Naughton will no longer be an employee or executive officer; Schall remains CEO reporting to Board.
- As non-executive Chairman, Naughton receives $250k annual cash retainer ($62.5k/quarter) plus standard non-employee director retainers.
- Outstanding equity awards continue vesting during board service; 2022 bonus and award to be settled per terms.
- Board also amended Bylaws to clarify Chairman may be officer or non-officer, a procedural change.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/915912/000110465922117110/0001104659-22-117110-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/915912/000110465922117110/tm2229895d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-22-117110

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