Form 4: Director Edith Kelly-Green Acquires MAA Phantom Stock

Director Edith Kelly-Green acquired 1,608 shares of phantom stock in Mid-America Apartment Communities, Inc. on May 19, 2026.

Summary

• Director Edith Kelly-Green was granted 1,608 shares of phantom stock in two separate transactions.
• The phantom stock was acquired at a price of $128.47 per share.
• Each share of phantom stock is the economic equivalent of one share of common stock.
• The total beneficial ownership of phantom stock following these transactions is 10,154.236 shares.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a routine disclosure of director compensation, reflecting standard corporate governance rather than a change in company outlook.

Positives

• Director demonstrates alignment with shareholder interests through the acquisition of equity-linked compensation.

Negatives

• None identified.

Risks

• Phantom stock value is tied to the performance of the company's common stock, exposing the holder to market volatility.

Future Outlook

The phantom stock is payable in two equal annual installments beginning within 90 days following the calendar year in which the director ceases to serve on the board, settled in cash or common stock at the director's election.

Industry Context

StockSavvy.ai notes that the use of phantom stock as a component of director compensation is a standard practice in the REIT sector to align board incentives with long-term shareholder value without immediate dilution.

Comparison to Industry Standards

• The use of deferred compensation plans like phantom stock is consistent with governance practices at peer REITs such as AvalonBay Communities and Equity Residential.

Stakeholder Impact

• No material impact on shareholders, employees, or creditors as this is a standard compensation disclosure.

Next Steps

• The director will continue to hold the phantom stock until the cessation of board service.

Key Dates

Keywords

MAA, Mid-America Apartment Communities, Form 4, Insider Trading, Phantom Stock, Director Compensation