Form 4: Apartment Investment & Management Co. Executive Receives Stock Awards

Kellie Dreyer, Senior Vice President and CAO of Apartment Investment & Management Co., received stock awards as part of her long-term incentive compensation.

Summary

• Kellie Dreyer, a Senior Vice President and CAO at Apartment Investment & Management Co., has reported changes in her beneficial ownership of company stock.
• On January 28, 2025, she acquired 6,508 shares of Class A Common Stock as part of her 2022 long-term incentive compensation.
• These shares vest 100% on February 2, 2025, and were subject to total shareholder return criteria.
• Additionally, she acquired 4,678 shares of Class A Common Stock as part of her 2025 long-term incentive compensation.
• These shares vest in three equal installments annually starting on January 28, 2026.
• Following these transactions, Ms. Dreyer beneficially owns 89,071 shares of Class A Common Stock.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to executive compensation, which is generally viewed neutrally. The long-term incentive structure is a positive sign for alignment with shareholder interests.

Positives

• The stock awards are part of a long-term incentive plan, aligning Ms. Dreyer's interests with those of shareholders.
• The vesting schedule of the 2022 award is tied to total shareholder return criteria, incentivizing performance.
• The vesting schedule of the 2025 award provides a long term incentive for the executive.

Industry Context

This is a standard SEC Form 4 filing, which is common for publicly traded companies when executives receive stock awards or engage in other transactions involving company stock. It is a routine part of corporate governance and transparency.

Comparison to Industry Standards

• Stock-based compensation is a common practice across the real estate investment trust (REIT) industry, where Apartment Investment & Management Co. operates.
• Many REITs use long-term incentive plans, including stock awards, to align executive interests with shareholder value creation.
• The vesting schedules and performance criteria are typical for such awards, often tied to metrics like total shareholder return or other financial targets.
• Companies like Equity Residential (EQR) and AvalonBay Communities (AVB) also utilize similar compensation structures for their executives.

Stakeholder Impact

• The stock awards align executive interests with shareholder value creation.
• The vesting schedule tied to shareholder return could positively impact shareholder value.

Key Dates

Keywords

stock awards, beneficial ownership, long-term incentive, executive compensation, Class A Common Stock, vesting, shareholder return, insider trading