Mid America Apartment (MAA) exec sells shares, gets new stock grant

Rhea-AI Filing Summary

Mid America Apartment Communities EVP & CHRO Melanie Carpenter reported routine equity compensation activity and a small tax-related sale. On April 1, she received a grant of 1,439 shares of common stock and had 295 shares withheld at $122.55 per share to cover taxes tied to vested restricted stock. On April 6, she sold 731 shares of common stock in an open-market transaction at an average price of $124.78 per share under a pre-arranged Rule 10b5-1 trading plan to meet additional tax obligations from prior restricted stock vestings. After these transactions, she directly owns 21,243 common shares and indirectly holds 1,011.1617 shares through allocated shares in an ESOP.

Insider Trade Summary 10b5-1

Net Seller: 731 shares ($91,214)

Net Sell 4 txns

Insider Carpenter Melanie

Role EVP & CHRO

Sold 731 shs ($91K)

Type	Security	Shares	Price	Value
Sale	Common Stock	731	$124.78	$91K
Grant/Award	Common Stock	1,439	$0.00	--
Tax Withholding	Common Stock	295	$122.55	$36K
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 21,243 shares (Direct); Common Stock — 1,011.162 shares (Indirect, Allocated Shares of ESOP)

Footnotes (1)

1. Disposals are being withheld to cover taxes related to vesting pursuant to shares earned and issued under a prior year restricted stock plan. Open market sale pursuant to a 10b5-1 plan adopted by the Reporting Person in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934, as amended. Shares were sold to meet additional tax obligations related to vestings of shares of restricted stock previously earned under a prior year restricted stock plan. This sale price represents the average sale price of the shares sold ranging from $124.73 to $124.885 per share. Upon request by the Commission staff, the Issuer, or a security holder of the Issuer, the Reporting person will provide full information regarding the number of shares sold at each separate price within the range set forth in the Form 4.

Key Figures

Open-market sale: 731 shares at $124.78 Stock grant: 1,439 shares at $0.00 Tax withholding shares: 295 shares at $122.55 +3 more

6 metrics

Open-market sale 731 shares at $124.78 Common Stock sold on April 6, 2026

Stock grant 1,439 shares at $0.00 Common Stock award on April 1, 2026

Tax withholding shares 295 shares at $122.55 Shares withheld for taxes on April 1, 2026

Direct ownership after transactions 21,243 shares Common Stock held directly after April 6, 2026

Indirect ESOP holdings 1,011.1617 shares Allocated ESOP shares as of April 1, 2026

Net shares sold 731 shares Net buy/sell direction is net-sell in summary

Key Terms

Rule 10b5-1, restricted stock plan, tax-withholding disposition, ESOP, +1 more

5 terms

Rule 10b5-1 regulatory

"Open market sale pursuant to a 10b5-1 plan adopted by the Reporting Person"

Rule 10b5-1 is a regulation that allows company insiders to buy or sell their shares at predetermined times, even if they have access to non-public information. It acts like setting a schedule in advance for transactions, helping prevent accusations of unfair trading. This rule provides a way for insiders to plan trades transparently, giving investors confidence that these transactions are not based on hidden information.

restricted stock plan financial

"shares earned and issued under a prior year restricted stock plan"

A restricted stock plan is a program where a company grants employees or executives shares that are held back until certain conditions are met, such as staying with the company for a set period or hitting performance goals. Think of it like a reward that unlocks over time; for investors it matters because these grants can dilute existing ownership when they vest and signal management’s incentives and confidence in future performance.

tax-withholding disposition financial

"Payment of exercise price or tax liability by delivering securities"

A tax-withholding disposition is an event or transaction—such as selling or transferring securities, exercising options, or receiving compensation—that triggers a requirement to hold back part of the payment and remit it to tax authorities. It matters to investors because it reduces the cash they receive immediately and can change the timing and amount of taxable income, like a cashier taking a portion of your sale proceeds to pay taxes before you get the rest.

ESOP financial

"Allocated Shares of ESOP"

An Employee Stock Ownership Plan (ESOP) is a program that gives employees ownership shares in their company, often as part of their benefits package. It acts like a company-sponsored savings plan, allowing workers to have a stake in the company's success, which can boost motivation and loyalty. For investors, ESOPs can influence company decisions and stock value, making them an important aspect of corporate ownership and governance.

open-market sale financial

"transaction_action": "open-market sale""

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

X

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Carpenter Melanie

(Last) (First) (Middle)

6815 POPLAR AVE

(Street)

GERMANTOWN TENNESSEE 38138

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
MID AMERICA APARTMENT COMMUNITIES INC. [ MAA ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP & CHRO

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/01/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	04/01/2026		A		1,439	A	$0	22,269	D
Common Stock	04/01/2026		F(1)		295	D	$122.55	21,974	D
Common Stock	04/06/2026		S(2)		731	D	$124.78(3)	21,243	D
Common Stock								1,011.1617	I	Allocated Shares of ESOP

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Disposals are being withheld to cover taxes related to vesting pursuant to shares earned and issued under a prior year restricted stock plan.

2. Open market sale pursuant to a 10b5-1 plan adopted by the Reporting Person in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934, as amended. Shares were sold to meet additional tax obligations related to vestings of shares of restricted stock previously earned under a prior year restricted stock plan.

3. This sale price represents the average sale price of the shares sold ranging from $124.73 to $124.885 per share. Upon request by the Commission staff, the Issuer, or a security holder of the Issuer, the Reporting person will provide full information regarding the number of shares sold at each separate price within the range set forth in the Form 4.

	/s/ Kellye Clouse	04/06/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transactions did MAA executive Melanie Carpenter report on this Form 4?

Melanie Carpenter reported a grant of 1,439 common shares, tax withholding of 295 shares, and an open-market sale of 731 shares. These moves reflect routine equity compensation vesting and related tax management rather than a major change in her ownership position.

How many Mid America Apartment Communities (MAA) shares did Melanie Carpenter sell?

She sold 731 shares of MAA common stock at an average price of $124.78 per share. The sale was executed under a pre-arranged Rule 10b5-1 trading plan and was described as covering additional tax obligations from restricted stock vestings.

What stock awards did MAA grant to Melanie Carpenter in this filing?

She received a grant of 1,439 shares of MAA common stock with a reported transaction price of $0.00 per share. The filing notes these shares were earned and issued under a prior year restricted stock plan, reflecting standard executive compensation.

Why were some of Melanie Carpenter’s MAA shares disposed of for taxes?

The filing states that 295 shares were disposed of to cover taxes related to vesting of restricted stock. This tax-withholding transaction, at $122.55 per share, is a non-market event commonly used to satisfy tax liabilities on equity awards.

How many MAA shares does Melanie Carpenter own after these transactions?

After the reported transactions, she directly owns 21,243 shares of MAA common stock. She also has an indirect holding of 1,011.1617 shares classified as allocated shares of an ESOP, providing additional exposure through an employee stock ownership plan.

What is the significance of the Rule 10b5-1 trading plan mentioned for MAA?

The filing explains the 731-share sale was made under a Rule 10b5-1 trading plan that Carpenter adopted in advance. Such plans pre-schedule trades, indicating the sale’s timing was pre-arranged and primarily aimed at funding tax obligations from restricted stock vestings.