---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-26-064781"
form_type: "8-K"
ticker: "AVB"
cik: "0000915912"
company_name: "AVALONBAY COMMUNITIES INC"
filed_at: "2026-05-21T10:12:12+00:00"
generated_at: "2026-05-21T10:16:01.621821+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# AvalonBay and Equity Residential agree to all-stock merger; AVB holders get 2.793 EQR shares

## Summary
- Each AvalonBay share converts to 2.793 Equity Residential common shares; combined co will have new name.
- Board of 14: 7 from each company; Stephen Sterrett Chairman, Benjamin Schall CEO of combined entity.
- Termination fees: AVB pays ~$1.070B, EQR pays ~$1.005B under certain conditions.
- Dividends capped during pendency: AVB $1.78/quarter, EQR $0.7025/quarter; must maintain REIT status.
- Closing expected by May 20, 2027, subject to stockholder approvals, tax opinions, and other conditions.

## SEC filing metadata
- accession: 0001104659-26-064781
- form_type: 8-K
- ticker: AVB
- cik: 0000915912
- company_name: AVALONBAY COMMUNITIES INC
- filed_at: 2026-05-21T10:12:12+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/915912/000110465926064781/0001104659-26-064781-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/915912/000110465926064781/tm2615292d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-26-064781
- JSON: https://secwatch.observer/filing/0001104659-26-064781.json
- Plain text: https://secwatch.observer/filing/0001104659-26-064781.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.