UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
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| Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On October 17, 2022, the Board of Directors (the “Board”) of AvalonBay Communities, Inc. (the “Company”) voted to appoint Charles (“Chaz”) E. Mueller, Jr. to the Board, effective November 1, 2022. Upon his appointment, Mr. Mueller will serve on the Investment and Finance Committee and the Audit Committee of the Board.
Mr. Mueller, 59, retired in October 2021 from full time executive leadership positions after serving, since May 2018, as Chief Executive Officer at Progress Residential, one of the largest providers of single-family rental homes in the United States. Mr. Mueller remained as an employee and advisor to Progress Residential from October 2021 to March 2022. From February 2015 to December 2017, Mr. Mueller was President of Irvine Company Apartment Communities, an owner and operator of apartment communities across coastal California. From December 2013 to January 2015, Mr. Mueller was Chief Executive Officer of ConAm Management Corporation, a multifamily real estate investment and property management firm. From 1994 to 2013, Mr. Mueller held several positions with Archstone and its predecessors (collectively “Archstone”), including President, Chief Operating Officer and Chief Financial Officer. Prior to Archstone going private in 2007, it was one of the largest publicly traded multifamily REITs in the United States. Mr. Mueller received his B.A. in real estate and finance from the University of Texas at Austin and his M.B.A. from Southern Methodist University.
As part of its refreshment process for the Board, Alan B. Buckelew, who has served as a Board member since 2011, will be retiring from the Board at the time of the Company’s 2023 Annual Meeting of Stockholders. Mr. Buckelew’s planned retirement from the Board is consistent with the retirement age and term limit expectations contained in the Company’s Corporate Governance Guidelines and is not based on any disagreement Mr. Buckelew has with the Company.
| Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits.
| 99.1 | Press Release issued by AvalonBay Communities, Inc., dated as of October 17, 2022. |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). (Filed herewith.) |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be filed on its behalf by the undersigned hereunto duly authorized.
| AVALONBAY COMMUNITIES, INC. | ||
| Dated: October 17, 2022 | By: | /s/ Kevin P. O’Shea |
| Kevin P. O’Shea | ||
| Chief Financial Officer | ||