What the executives and directors of AvalonBay Communities actually did with their own shares, decoded from three years of SEC Form 4 filings.
The tape: three years of insider trades
Every marker sits at the exact price reported on the Form 4. The line is the monthly median of all prices insiders reported, so the chart needs no market feed; the gray strip is routine flow (vestings, tax withholding, gifts) that headlines love to miscount as selling.
Where the shares went, last 12 months
Every Form 4 movement decomposed: what flowed in (grants, vested equity, purchases) and what flowed out (tax withholding, plan sales, discretionary sales, gifts). Counted in shares, because grants carry no price.
Skin in the game
Directly held shares as reported after each trade, indexed to 100 five years back. Direct holdings only: trust and family-entity positions are per-entity in the filings and do not sum honestly, so this chart refuses to guess. The steps are the trades.
Who holds what
| Insider | Role | Shares held | Buys 12 m | Sales 12 m |
|---|---|---|---|---|
| NAUGHTON TIMOTHY J | Director | 111.6K | — | — |
| Schall Benjamin CEO & President | CEO | 100.5K | — | — |
| Birenbaum Matthew H. Chief Investment Officer | Officer | 85.3K | — | — |
| Breslin Sean J. Chief Operating Officer | COO | 79.1K | — | — |
| O'Shea Kevin P. Chief Financial Officer | CFO | 33.1K | — | — |
| SCHULMAN EDWARD M EVP-General Counsel | Officer | 23.3K | — | — |
| Lockridge Joanne M Executive Vice President | Officer | 21.9K | — | — |
| HAVNER RONALD L JR | Director | 21K | — | — |
| Brown Terry S. | Director | 20.7K | — | — |
| Swanezy Susan | Director | 15.8K | — | — |
| Aeppel Glyn | Director | 15.5K | — | — |
| Thomas Pamela Rogers Executive Vice President | Officer | 10.3K | — | — |
| Hills Stephen P. | Director | 10.2K | — | — |
| Lieb Richard J | Director | 9,889 | — | — |
Open-market trade log
| Date | Insider | Type | Shares | Price | Value |
|---|---|---|---|---|---|
| 2025-12-02 | Willson Sean Thomas (Officer) | Discretionary sale | 150 | $180.27 | $27K |
| 2025-08-07 | Willson Sean Thomas (Officer) | Discretionary sale | 150 | $188.32 | $28K |
| 2025-06-16 | O'Shea Kevin P. (CFO) | Discretionary sale | 1,616 | $208.36 | $337K |
| 2025-06-16 | O'Shea Kevin P. (CFO) | Discretionary sale | 4,384 | $207.27 | $909K |
| 2025-06-13 | SCHULMAN EDWARD M (Officer) | Discretionary sale | 1,912 | $205.03 | $392K |
| 2025-06-13 | SCHULMAN EDWARD M (Officer) | Discretionary sale | 4,033 | $205.97 | $831K |
| 2024-11-13 | NAUGHTON TIMOTHY J (Director) | Discretionary sale | 6,295 | $233.85 | $1.5M |
| 2024-11-13 | NAUGHTON TIMOTHY J (Director) | Discretionary sale | 17.4K | $233.33 | $4.1M |
| 2024-11-12 | NAUGHTON TIMOTHY J (Director) | Discretionary sale | 500 | $232.50 | $116K |
| 2024-11-11 | NAUGHTON TIMOTHY J (Director) | Discretionary sale | 2,261 | $233.78 | $529K |
| 2024-08-15 | Breslin Sean J. (COO) | Discretionary sale | 4,000 | $215.44 | $862K |
| 2024-08-06 | Shea Keri A (Officer) | Discretionary sale | 861 | $205.97 | $177K |
| 2024-08-06 | Shea Keri A (Officer) | Discretionary sale | 2,000 | $207.17 | $414K |
| 2024-08-06 | O'Shea Kevin P. (CFO) | Discretionary sale | 5,000 | $208.90 | $1M |
| 2024-08-05 | Birenbaum Matthew H. (Officer) | Discretionary sale | 5,000 | $208.90 | $1M |
| 2024-08-05 | O'Shea Kevin P. (CFO) | Discretionary sale | 5,000 | $209.49 | $1M |
| 2024-03-08 | O'Shea Kevin P. (CFO) | Discretionary sale | 5,000 | $185.65 | $928K |
| 2024-03-07 | Lockridge Joanne M (Officer) | Discretionary sale | 1,750 | $185.10 | $324K |
| 2023-08-11 | Lockridge Joanne M (Officer) | Discretionary sale | 3,331 | $186.25 | $620K |
| 2023-05-22 | Birenbaum Matthew H. (Officer) | Discretionary sale | 4,000 | $176.10 | $704K |
| 2021-11-23 | SCHULMAN EDWARD M (Officer) | Discretionary sale | 245 | $240.94 | $59K |
| 2021-11-17 | McLaughlin William M (Officer) | Discretionary sale | 5,000 | $243.79 | $1.2M |
| 2021-08-31 | NAUGHTON TIMOTHY J (CEO) | Discretionary sale | 21.8K | $228.49 | $5M |
| 2021-08-26 | Breslin Sean J. (COO) | Discretionary sale | 1,500 | $224.10 | $336K |
| 2021-08-19 | SCHULMAN EDWARD M (Officer) | Discretionary sale | 1,760 | $222.76 | $392K |
| 2021-08-06 | Shea Keri A (Officer) | Discretionary sale | 426 | $229.52 | $98K |
| 2021-08-05 | Shea Keri A (Officer) | Discretionary sale | 300 | $227.83 | $68K |
| 2021-08-05 | Lockridge Joanne M (Officer) | Discretionary sale | 1,862 | $228.92 | $426K |
| 2021-08-03 | O'Shea Kevin P. (CFO) | Discretionary sale | 2,000 | $228.60 | $457K |
| 2021-06-03 | Shea Keri A (Officer) | Discretionary sale | 994 | $212.94 | $212K |
| 2021-06-02 | Breslin Sean J. (COO) | Discretionary sale | 1,500 | $212.03 | $318K |
| 2021-05-24 | SCHULMAN EDWARD M (Officer) | Discretionary sale | 1,271 | $204.27 | $260K |
| 2021-05-24 | O'Shea Kevin P. (CFO) | Discretionary sale | 3,000 | $204.19 | $613K |
| 2020-11-16 | WALTER W EDWARD (Director) | Discretionary sale | 1 | $173.35 | $168 |
| 2020-03-03 | SCHULMAN EDWARD M (Officer) | Discretionary sale | 2,000 | $210.58 | $421K |
| 2020-03-03 | O'Shea Kevin P. (CFO) | Discretionary sale | 102 | $212.19 | $22K |
| 2020-03-03 | O'Shea Kevin P. (CFO) | Discretionary sale | 248 | $212.11 | $53K |
| 2020-03-03 | O'Shea Kevin P. (CFO) | Discretionary sale | 1,714 | $211.53 | $363K |
| 2020-03-03 | O'Shea Kevin P. (CFO) | Discretionary sale | 3,150 | $212.15 | $668K |
| 2019-12-04 | Shea Keri A (Officer) | Discretionary sale | 700 | $214.34 | $150K |
| 2019-11-21 | Breslin Sean J. (COO) | Discretionary sale | 777 | $213.51 | $166K |
| 2019-11-15 | NAUGHTON TIMOTHY J (CEO) | Discretionary sale | 5,773 | $214.19 | $1.2M |
| 2019-11-15 | NAUGHTON TIMOTHY J (CEO) | Discretionary sale | 20.9K | $213.44 | $4.5M |
| 2019-09-05 | McLaughlin William M (Officer) | Discretionary sale | 2,500 | $215.11 | $538K |
| 2019-09-03 | HOREY LEO S III (Officer) | Discretionary sale | 2,000 | $214.00 | $428K |
| 2019-09-03 | SCHULMAN EDWARD M (Officer) | Discretionary sale | 1,301 | $213.47 | $278K |
| 2019-06-12 | HOREY LEO S III (Officer) | Discretionary sale | 2,000 | $210.00 | $420K |
| 2019-06-11 | HOREY LEO S III (Officer) | Discretionary sale | 2,000 | $210.00 | $420K |
| 2019-06-11 | McLaughlin William M (Officer) | Discretionary sale | 2,500 | $209.07 | $523K |
| 2019-06-10 | HOREY LEO S III (Officer) | Discretionary sale | 1,000 | $209.28 | $209K |
| 2019-06-06 | SCHULMAN EDWARD M (Officer) | Discretionary sale | 1,500 | $206.93 | $310K |
| 2019-05-24 | O'Shea Kevin P. (CFO) | Discretionary sale | 250 | $205.49 | $51K |
| 2019-05-06 | Shea Keri A (Officer) | Discretionary sale | 40 | $201.20 | $8K |
| 2019-05-06 | Shea Keri A (Officer) | Discretionary sale | 354 | $201.03 | $71K |
| 2019-05-06 | Shea Keri A (Officer) | Discretionary sale | 1,131 | $200.09 | $226K |
| 2019-05-02 | Breslin Sean J. (COO) | Discretionary sale | 1,500 | $201.75 | $303K |
| 2019-03-14 | SCHULMAN EDWARD M (Officer) | Discretionary sale | 1,992 | $198.93 | $396K |
| 2019-03-14 | SCHULMAN EDWARD M (Officer) | Discretionary sale | 2,100 | $198.96 | $418K |
| 2019-03-14 | McLaughlin William M (Officer) | Discretionary sale | 380 | $199.73 | $76K |
| 2019-03-13 | McLaughlin William M (Officer) | Discretionary sale | 2,120 | $199.77 | $424K |
“Since trade” compares with the latest insider-implied price, not a market quote; this site carries no market data by design.
Filing hygiene
How to read this
A Form 4 transaction code decides everything. P is an open-market purchase and S an open-market sale; those two are the only codes where an insider chose to trade. A is a grant, M an option exercise or vesting, F shares withheld to cover tax, G a gift. Most “insiders dumped billions” headlines are code F and M mechanics.
Sales flagged 10b5-1 run on a plan the insider adopted in advance; since 2023 every Form 4 carries that flag. Buys have historically predicted returns, sales mostly have not, and this page states filings, not advice.