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Avalonbay Communities Executive Compensation (FY25)

AVB · Arlington, VA · Executive and director compensation, fiscal 2022 to 2025
Data as of September 7, 2026Latest filing (8-K): May 22, 2026
289 figures on this page: 278 cited to the filing that reported them, 11 calculated from figures it prints. See the citations
Benjamin Schall was paid $9,663,500 in total compensation as Chief Executive Officer and President for fiscal 2025, and Schall's total moved 6.3% higher from the $9,090,073 reported for fiscal 2024. The company reported a chief executive pay ratio of 136:1 for fiscal 2025, against median employee compensation of $70,971. For fiscal 2025, shareholders backed the say-on-pay proposal with 95.6% of votes cast for or against in favor at the meeting held May 20, 2026. The disclosed peer group names Camden Property Trust, Equity Residential, Essex Property Trust, Inc., Extra Space Storage and Invitation Homes Inc., among others.
Chief executive, fiscal 2025
◇
Benjamin Schall
Latest say-on-pay support
=
May 20, 2026
Chief executive pay ratio
◇
To the median employee
What changed from fiscal 2024 to fiscal 2025
The figures that moved, and by how much. Analysis of these figures is part of the Velarion platform.
Chief executive total compensation — Benjamin Schall: $9,090,073 → $9,663,500 (6.3% higher)
Say-on-pay support: 94.6% → 95.6% (1.0 points higher)
CEO pay ratio: 101:1 → 136:1 (34.7% higher)

Frequently asked questions

Answers drawn from the data on this page.
Who is Avalonbay Communities' chief executive and what were they paid?
Benjamin Schall was paid $9,663,500 in total compensation as Chief Executive Officer and President for fiscal 2025. Schall's total moved 6.3% higher from the $9,090,073 reported for fiscal 2024.
What was Avalonbay Communities' say-on-pay result?
For fiscal 2025, shareholders backed the say-on-pay proposal with 95.6% of votes cast for or against in favor at the meeting held May 20, 2026.
Which companies are in Avalonbay Communities' peer group?
The disclosed peer group names Camden Property Trust, Equity Residential, Essex Property Trust, Inc., Extra Space Storage and Invitation Homes Inc., among others. The additional disclosed peer group names American Homes 4 Rent, Boston Properties, Digital Realty Trust, Equity LifeStyle Properties and Federal Realty Investment Trust, among others.
What is Avalonbay Communities' chief executive pay ratio?
The company reported a chief executive pay ratio of 136:1 for fiscal 2025, against median employee compensation of $70,971.

Executive compensation

Every element reported for each named executive officer, by fiscal year.
Fiscal 2022
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Benjamin Schall
Chief Executive Officer and President
◇—◇◇◇—◇◇
Matthew Birenbaum
Chief Investment Officer
◇—◇—◇—◇◇
Sean Breslin
Chief Operating Officer
◇—◇—◇—◇◇
Kevin O'Shea
Chief Financial Officer
◇—◇—◇—◇◇
Fiscal 2023
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Benjamin Schall
Chief Executive Officer and President
◇—◇◇◇—◇◇
Sean Breslin
Chief Operating Officer
◇—◇—◇—◇◇
Matthew Birenbaum
Chief Investment Officer
◇—◇—◇—◇◇
Kevin O'Shea
Chief Financial Officer
◇—◇—◇—◇◇
Fiscal 2024
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Benjamin Schall
Chief Executive Officer and President
◇—◇◇◇—◇◇
Sean Breslin
Chief Operating Officer
◇—◇—◇—◇◇
Matthew Birenbaum
Chief Investment Officer
◇—◇—◇—◇◇
Kevin O'Shea
Chief Financial Officer
◇—◇—◇—◇◇
Pamela Thomas
Executive Vice President - Portfolio and Asset Management
◇◇◇———◇◇
Fiscal 2025
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Benjamin Schall
Chief Executive Officer and President
◇—◇◇◇—◇◇
Matthew Birenbaum
Chief Investment Officer
◇—◇—◇—◇◇
Sean Breslin
Chief Operating Officer
◇—◇—◇—◇◇
Kevin O'Shea
Chief Financial Officer
◇—◇—◇—◇◇
Pamela Thomas
Executive Vice President - Portfolio and Asset Management
◇—◇—◇—◇◇
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. A negative change in pension value is shown but, as the company reports it, not included in the total.

Equity awards granted

Individual awards as disclosed: type, date, unit counts at each level, and grant date value.
Fiscal 2025
OfficerAwardGrant dateThreshold unitsTarget unitsUnits grantedMaximum unitsExercise priceGrant date fair value
Benjamin SchallPSU◇◇◇—◇—◇
Benjamin SchallPSU◇◇◇—◇—◇
Benjamin SchallRSU◇——◇——◇
Benjamin SchallOTHER◇——◇——◇
Benjamin SchallPSU◇—◇◇◇—◇
Kevin O'Shea—◇—◇◇◇—◇
Kevin O'Shea—◇——◇——◇
Matthew BirenbaumRSU◇——◇——◇
Matthew BirenbaumPSU◇—◇◇◇—◇
Pamela ThomasRSU◇——◇——◇
Pamela ThomasRSU◇——◇——◇
Pamela ThomasPSU◇—◇◇◇—◇
Sean BreslinPSU◇—◇◇◇—◇
Sean BreslinRSU◇——◇——◇
Fiscal 2022, 2023, 2024 are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. Threshold, target and maximum apply only to performance awards and are never shown for time-based or option awards.

Outstanding awards

Awards still held at fiscal year end.
As disclosed at fiscal 2025 year end
OfficerAwardUnvested unitsMarket value of unvested unitsExercise priceExpires
Benjamin SchallOption◇—◇2/26/2035
RSU◇◇——
Option◇—◇2/23/2033
PSU◇◇——
PSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
PSU◇◇——
RSU◇◇——
Option◇—◇2/13/2034
RSU◇◇——
RSU◇◇——
Matthew BirenbaumRSU◇◇——
PSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
Sean BreslinPSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
PSU◇◇——
Pamela ThomasRSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
PSU◇◇——
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director compensation

What each non-employee director was paid.
Fiscal 2025
DirectorFees earned in cashStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Timothy J. Naughton
Board chair
◇◇————◇
Terry S. Brown
Lead independent director
—◇————◇
Charles E. Mueller, Jr
—◇————◇
Nnenna Lynch
◇◇————◇
Susan Swanezy
◇◇————◇
Stephen P. Hills
◇◇————◇
Richard J. Lieb
◇◇————◇
Ronald L. Havner, Jr
—◇————◇
Christopher B. Howard
—◇————◇
Glyn F. Aeppel
◇◇————◇
Conor C. Flynn
—◇————◇
W. Edward Walter and Benjamin W. Schall served on the board in fiscal 2025 and received no compensation for board service. Executive directors are typically paid through their executive roles, shown above.
Earlier years are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director fee schedule

The standing retainers and premiums the board pays, as published.
Board cash retainer◇
Board equity retainer◇
Total board retainer◇
Board chair premium◇
Lead independent director premium◇
Audit committee chair◇
Compensation committee chair◇
Nominating and governance chair◇
Equity is delivered as Restricted Stock or Deferred Stock Units (at director's election).
Stock ownership guideline: 5x annual cash retainer ($500,000)

Disclosed peer group

The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Fiscal 2025
  • Camden Property Trust CPT
  • Equity Residential EQR
  • Essex Property Trust, Inc. ESS
  • Extra Space Storage EXR
  • Invitation Homes Inc. INVH
  • Mid-America Apartment Communities, Inc. MAA
  • Public Storage PSA
  • Sun Communities, Inc. SUI
  • UDR, Inc. UDR
  • Ventas, Inc. VTR
  • Welltower Inc. WELL
Additional disclosed peer group
  • American Homes 4 Rent AMH
  • Boston Properties BXP
  • Digital Realty Trust DLR
  • Equity LifeStyle Properties ELS
  • Federal Realty Investment Trust FRT
  • Kimco Realty Corp. KIM
  • Realty Income O
  • Regency Centers Corp. REG
  • Simon Property Group SPG

Say-on-pay history

Shareholder support for the compensation program, by year.
YearMeetingSupportVotes forVotes againstAbstentions
2025May 20, 2026=◇◇◇
2024May 21, 2025=◇◇◇
2023May 16, 2024=◇◇◇
2022May 24, 2023=◇◇◇
2021May 19, 2022=◇◇◇
2020May 20, 2021=◇◇◇
2019May 12, 2020=◇◇◇
2018May 16, 2019=◇◇◇
2017May 23, 2018=◇◇◇
2016May 18, 2017=◇◇◇
2015May 19, 2016=◇◇◇

Chief executive pay ratio

As calculated and reported by the company.
Ratio
◇
Median employee compensation
◇
Chief executive total compensation
◇
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What this page does not include

Everything above is a fact Avalonbay Communities disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where Avalonbay Communities sits against its disclosed peers — percentile position by role and by pay element, and the ranking behind it. The disclosed peer group is free; comparisons across it are part of the Velarion platform.
Executive Compensation Report — $1,500
Written compensation analysis
A read of the pay program as designed and as paid: incentive structure, goal rigor, the alignment between the committee's stated philosophy and what the numbers show.
Executive Compensation Report — $1,500
Board and governance analysis
Committee composition, independence, director pay positioning, and the governance provisions read together rather than listed.
Board Governance Report — $1,200
Realizable pay
What the awards above are actually worth today against what they were valued at on grant, and what the gap says about the pay-for-performance link.
Velarion Intelligence
Adviser switching and vote outcomes
Two datasets covering compensation-adviser changes and what followed a contested vote. Both are part of the Velarion platform.
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Citations

Every figure on this page is cited to the document that reported it. Select any figure to see its citation.
289 figures on this page: 278 cited to the filing that reported them, 11 calculated from figures it prints.
278 cited to the filing
11 calculated from the filing

Documents cited

  1. 0001104659-26-065770
    Item 5.07 Submission of Matters to a Vote of Security Holders
  2. 0001104659-26-039943
    CEO Pay Ratio · Director Compensation · Director Compensation Table · Grants of Plan-Based Awards · and 2 more sections
  3. 0001104659-25-051999
    Item 5.07 Submission of Matters to a Vote of Security Holders
  4. 0001558370-25-004321
    Summary Compensation Table
  5. 0001104659-24-063013
    Item 5.07 Submission of Matters to a Vote of Security Holders
  6. 0001308179-24-000352
    Summary Compensation Table
  7. 0001104659-23-064823
    Item 5.07 Submission of Matters to a Vote of Security Holders
  8. 0001308179-23-000619
    Summary Compensation Table
  9. 0001104659-22-063378
    Say-on-Pay Proposal
  10. 0001104659-21-071038
    Say-on-Pay Proposal
  11. 0001104659-20-062596
    Say-on-Pay Proposal
  12. 0001104659-19-030539
    Item 5.07 Submission of Matters to a Vote of Security Holders
  13. 0001104659-18-035721
    Item 5.07 Submission of Matters to a Vote of Security Holders
  14. 0001104659-17-034018
  15. 0001104659-16-122297
    Item 5.07 Submission of Matters to a Vote of Security Holders
Cite this data
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Velarion, “Avalonbay Communities executive compensation, FY2022–FY2025.” https://intel.velarion.ai/comp/AVB (accessed 2026).
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Real Estate rankings

Chief executive pay — Real EstateCEO pay ratio — Real EstateSay-on-pay support — Real Estate

Peers Avalonbay Communities discloses

The companies named in AVB's own disclosed peer group.

Camden Property TrustEquity ResidentialEssex Property Trust, Inc.Extra Space StorageInvitation Homes Inc.Mid-America Apartment Communities, Inc.Public StorageSun Communities, Inc.UDR, Inc.Ventas, Inc.Welltower Inc.American Homes 4 RentBoston PropertiesDigital Realty TrustEquity LifeStyle PropertiesFederal Realty Investment TrustKimco Realty Corp.Realty IncomeRegency Centers Corp.Simon Property Group

Terms on this page

Say-on-Pay VoteCEO Pay RatioMedian Employee CompensationAll companies
Cite this data
APA
Velarion Company Intelligence. (2026). Velarion database: executive and board compensation data (Version 2026Q3) [Data set]. Zenodo. https://doi.org/10.5281/zenodo.22283854
BibTeX
@misc{velarionData2026,
  author = {{Velarion Company Intelligence}},
  title = {Velarion database: executive and board compensation data},
  year = {2026},
  version = {2026Q3},
  doi = {10.5281/zenodo.22283854},
  publisher = {Zenodo},
  url = {https://doi.org/10.5281/zenodo.22283854}
}
For informational purposes only. Not investment, legal, or compensation advice.  The Pay Desk · Methodology · Terms · Privacy