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MAAMid-America Apartment Communities · Insider ownership research

Mid-America Apartment Communities insiders sold $1.2M in the past 12 months. How much of their stake is that?

About 1.0% overall. As a group they ended with more shares than they started with. The biggest individual seller, Robert DelPriore, gave up 9.8% of starting holdings.

Updated Oct 8, 2026 from SEC filings · covers Oct 9, 2025 to Oct 8, 2026
How this comparesMore of their stake sold than at 76 of the 311 other companies we can measure (#236 of 312)See ranking
3
buyers among officers and directors (4 trades), past 12 months
96%
of sales were under disclosed trading plans, past 12 months
6 of 19
officers and directors sold shares, past 12 months
Recent activity · past 30 days, Sep 9, 2026 to Oct 8, 2026

No officer or director trades were reported for the past 30 days. The most recent before that:

May 21, 2026Tamara Fischer bought 1.1K shares ($141K). The total stake went from 0 to 1.1K shares that day.
WhoSharesPrice% of total stakeTotal stake afterTrade dateFiled
Tamara Fischer
Director
1,100$128.55n/a1.1KMay 21, 2026May 21, 2026

"% of total stake" is the shares in this event against all the vested shares the person held that day, across every share class and holding entity, after that day's vesting. "n/a" means the person's holdings don't reconcile, or the row is a purchase. "Holdings record incomplete" means more shares were sold than the filings show the person held that day, so a percentage would be wrong.

Is this normal? Less than usual: about a quarter of the 5-year average. 6 insiders sold; the average is 6 a year. Year by year
Latest filing: Filed May 21 for a purchase on May 21. Tamara Fischer bought 1.1K shares ($141K). Filing
46 SEC ownership filings in the period · See the evidence

What stands out

Three insiders bought shares: Tamara Fischer (1.1K shares, $141K), Adrian Hill (758 shares, $100K) and Eric Bolton Jr. (578 shares, $75K).Tamara Fischer: purchase, May 21, 2026 · Adrian Hill: purchase, Dec 12, 2025 · Eric Bolton Jr.: purchase, Oct 31, 2025
Three officers sold shares but ended with larger stakes, because more shares came in than were sold: Melanie Carpenter (sold 1.2K, 5.4% of starting holdings; 2.2K added), Amber Fairbanks (sold 1.1K, 37% of starting holdings; 3.1K added) and Aubrey Holder (sold 269, 3.2% of starting holdings; 5.9K added).Melanie Carpenter: largest sale, Apr 6, 2026 · Amber Fairbanks: largest sale, Apr 6, 2026 · Aubrey Holder: largest sale, Apr 6, 2026
Tax withholding outweighed market sales: the company withheld $1.8M of officers' and directors' shares for taxes, against $1.2M sold on the open market. The largest was Eric Bolton Jr. ($936K withheld).Largest withholding, Apr 1, 2026

Percentages cover 14 of 19 officers and directors. 5 are left out

i
Left out: Adrian Hill and Timothy Argo (holdings couldn't be fully reconciled); Green Kelly, Tamara Fischer and Sheila McGrath (held no vested shares at the start).
Disclosed company stock is not an insider's whole wealth.

Who sold, and how much of their stake

Officers and directors, past 12 months. Each bar is the insider's vested stake at the start of the period (Oct 8, 2025). The gold part is what they sold.

SoldRest of starting stakeAdded during the period
Robert DelPriore
EVP, General Counsel
9.8% · $750KDisclosed plan
Melanie Carpenter
EVP & CHRO
5.4% · $150KDisclosed plan
Amber Fairbanks
EVP, Property Management
37% · $145KDisclosed plan
James French
EVP Investments
4.1% · $46KNo plan disclosed
Timothy Argo
EVP, Chief Strategy & Analysis
No bar: holdings couldn't be fully reconciled.
$38KDisclosed plan
All 6 sellers

Selling by month

Officers and directors, Oct 2025 to Oct 2026. Each sale is counted once: under a disclosed plan, else to cover taxes, else no plan disclosed.

Disclosed planTo cover taxesNo plan disclosed
OctNovDecJan 2026: $898K under a disclosed plan$898KJanFebMarApr 2026: $221K under a disclosed planAprMay 2026: $46K no plan disclosedMayJunJulAugSepOct

Common questions

Is the Mid-America Apartment Communities CEO selling stock?

No. Eric Bolton Jr. reported no open-market sales in the past 12 months.

Why are Mid-America Apartment Communities insiders selling?

Filings rarely give a reason, and we don't guess at one. What they show is how the sales were made: 96% of sales by value ran under 10b5-1 trading plans disclosed in the filings and 4% had no disclosed plan. A trading plan schedules sales in advance.

Are any Mid-America Apartment Communities insiders buying?

Yes. 3 officers or directors reported 4 purchases in the past 12 months (Form 4 code P, which includes private purchases).

How much of their stake did Mid-America Apartment Communities insiders sell?

About 1.0% overall. As a group they ended with more shares than they started with. The biggest individual seller, Robert DelPriore, gave up 9.8% of starting holdings. That covers the 12 months to Oct 8, 2026 and counts vested shares reported on SEC Forms 3, 4 and 5, which is not an insider's whole wealth.

The evidence

Who sold6 officers and directors: amount, % of holdings, trading plan
Who soldAmount% of holdingsTrading plan
Robert DelPriore
EVP, General Counsel
$750K
5.4K shares
9.8%Disclosed plan
Melanie Carpenter
EVP & CHRO
$150K
1.2K shares
5.4%Disclosed plan
Amber Fairbanks
EVP, Property Management
$145K
1.1K shares
37%Disclosed plan
James French
EVP Investments
$46K
350 shares
4.1%No plan disclosed
Timothy Argo
EVP, Chief Strategy & Analysis
$38K
294 shares
i
No percentage: holdings couldn't be fully reconciled.
Disclosed plan
Aubrey Holder
EVP, CFO
$35K
269 shares
3.2%Disclosed plan
The full ownership picture17 of 19 insiders fully reconciled · 17 officers and directors

Vested shares across all share classes, held directly and through trusts, LLCs and family members, as reported on SEC Forms 3, 4 and 5. Unvested awards and options are never counted as owned shares.

InsiderHeld Oct 8, 2025SoldHeld Oct 8, 2026Still held
Eric Bolton Jr.
i
Minor difference of 425 shares. Difference is under 0.5% of holdings. Additional holdings last reported more than 3 years ago are shown separately and excluded from totals.
President and CEO, Director
330K0339Kno sales
Vesting, gifts, unvested awards and holding lines for Eric Bolton Jr.
0shares vested or exercised
0gifted (net of own trusts)
−7.4Kwithheld by the company for taxes
none reportedunvested awards, start → end
  • Additional holdings last reported more than 3 years ago are shown separately and excluded from totals.
Held throughShare classOct 8, 2025Oct 8, 2026
DirectCommon Stock319,813328,468
Allocated Shares In Esop TrustCommon Stock10,05210,477

Additional holdings last reported Jul 1, 2004, not confirmed since: 110,000 shares. Not included in any total or percentage on this page.

Reconciliation: minor difference of 425 shares. Difference is under 0.5% of holdings.

Thomas Lowder
Director
288K0288Kno sales
Vesting, gifts, unvested awards and holding lines for Thomas Lowder
0shares vested or exercised
0gifted (net of own trusts)
48K → 48Kunvested awards, start → end
Held throughShare classOct 8, 2025Oct 8, 2026
DirectCommon Stock12,93312,933
IRACommon Stock25,79125,791
THL Investments, LLCCommon Stock357357
DirectLimited Partnership Units228,726228,726
THL Investments, LLCLimited Partnership Units19,92819,928
David Stockert
Director
97K097Kno sales
Vesting, gifts, unvested awards and holding lines for David Stockert
0shares vested or exercised
0gifted (net of own trusts)
59K → 78Kunvested awards, start → end
Held throughShare classOct 8, 2025Oct 8, 2026
DirectCommon Stock52,68652,686
SpouseCommon Stock44,70644,706
Robert DelPriore
EVP, General Counsel
55K−5.4K54K99%
Vesting, gifts, unvested awards and holding lines for Robert DelPriore
0shares vested or exercised
−719gifted (net of own trusts)
−2.2Kwithheld by the company for taxes
none reportedunvested awards, start → end
Held throughShare classOct 8, 2025Oct 8, 2026
DirectCommon Stock55,17154,352
Adrian Hill
!
Holdings couldn't be fully reconciled. Balance changed with no matching transaction and no footnote: +1,078.8467 shares on Dec 12, 2025 (Direct). See the filing Sales and other transactions for Adrian Hill are complete.
EVP, Chief Investment Officer, Director
n/a0n/an/a
Vesting, gifts, unvested awards and holding lines for Adrian Hill
0shares vested or exercised
0gifted (net of own trusts)
−2.4Kwithheld by the company for taxes
none reportedunvested awards, start → end

Holdings couldn't be fully reconciled. Balance changed with no matching transaction and no footnote: +1,078.8467 shares on Dec 12, 2025 (Direct). The balances below are as reported, not verified totals.

Held throughShare classOct 8, 2025Oct 8, 2026
DirectCommon Stock46,92964,433
Hill Family Irr TR FBO Terry Hill, Adrian Hill TTEECommon Stock1,0301,030
Melanie Carpenter
i
Minor difference of 41 shares. Difference is under 0.5% of holdings.
EVP & CHRO
22K−1.2K22K+2.5%
Vesting, gifts, unvested awards and holding lines for Melanie Carpenter
0shares vested or exercised
0gifted (net of own trusts)
−481withheld by the company for taxes
none reportedunvested awards, start → end
Held throughShare classOct 8, 2025Oct 8, 2026
DirectCommon Stock20,74221,243
Allocated Shares of ESOPCommon Stock9701,011

Reconciliation: minor difference of 41 shares. Difference is under 0.5% of holdings.

Timothy Argo
!
Holdings couldn't be fully reconciled. Balance changed without a matching transaction, and the footnote does not state the amount: +291.6471 shares on Jan 4, 2026 (Direct). See the filing Sales and other transactions for Timothy Argo are complete.
EVP, Chief Strategy & Analysis
n/a−294n/an/a
Vesting, gifts, unvested awards and holding lines for Timothy Argo
0shares vested or exercised
0gifted (net of own trusts)
−537withheld by the company for taxes
none reportedunvested awards, start → end

Holdings couldn't be fully reconciled. Balance changed without a matching transaction, and the footnote does not state the amount: +291.6471 shares on Jan 4, 2026 (Direct). The balances below are as reported, not verified totals.

Held throughShare classOct 8, 2025Oct 8, 2026
DirectCommon Stock17,62121,382
Allocated shares in ESOPCommon Stock772804
IRACommon Stock2829
Alan Graf Jr.
Director
14K015Kno sales
Vesting, gifts, unvested awards and holding lines for Alan Graf Jr.
0shares vested or exercised
0gifted (net of own trusts)
72K → 110Kunvested awards, start → end
Held throughShare classOct 8, 2025Oct 8, 2026
DirectCommon Stock13,56014,961
Claude Nielsen
i
Additional holdings last reported more than 3 years ago are shown separately and excluded from totals.
Director
12K012Kno sales
Vesting, gifts, unvested awards and holding lines for Claude Nielsen
0shares vested or exercised
0gifted (net of own trusts)
38K → 38Kunvested awards, start → end
  • Additional holdings last reported more than 3 years ago are shown separately and excluded from totals.
Held throughShare classOct 8, 2025Oct 8, 2026
DirectCommon Stock12,11712,117

Additional holdings last reported May 16, 2023, not confirmed since: 2,111 shares. Not included in any total or percentage on this page.

Joseph Fracchia
EVP, Chief Tech & Innovation
11K013Kno sales
Vesting, gifts, unvested awards and holding lines for Joseph Fracchia
0shares vested or exercised
0gifted (net of own trusts)
−457withheld by the company for taxes
none reportedunvested awards, start → end
Held throughShare classOct 8, 2025Oct 8, 2026
DirectCommon Stock11,05513,019
Aubrey Holder
EVP, CFO
8.5K−26914K+61%
Vesting, gifts, unvested awards and holding lines for Aubrey Holder
0shares vested or exercised
0gifted (net of own trusts)
−503withheld by the company for taxes
none reportedunvested awards, start → end
Held throughShare classOct 8, 2025Oct 8, 2026
DirectCommon Stock8,52013,679
James French
i
Started reporting during the period; starting holdings are from the Form 3.
EVP Investments
8.5K−3508.2K96%
Vesting, gifts, unvested awards and holding lines for James French
0shares vested or exercised
0gifted (net of own trusts)
none reportedunvested awards, start → end
  • Started reporting during the period; starting holdings are from the Form 3.
Held throughShare classOct 8, 2025Oct 8, 2026
DirectCommon Stock8,5088,158
Gary Shorb
Director
4.9K04.9Kno sales
Vesting, gifts, unvested awards and holding lines for Gary Shorb
0shares vested or exercised
0gifted (net of own trusts)
230K → 262Kunvested awards, start → end
Held throughShare classOct 8, 2025Oct 8, 2026
DirectCommon Stock4,8964,896
Deborah Caplan
Director
4K05.4Kno sales
Vesting, gifts, unvested awards and holding lines for Deborah Caplan
0shares vested or exercised
0gifted (net of own trusts)
5.7K → 11Kunvested awards, start → end
Held throughShare classOct 8, 2025Oct 8, 2026
DirectCommon Stock3,9705,371
Amber Fairbanks
EVP, Property Management
3K−1.1K4.5K+48%
Vesting, gifts, unvested awards and holding lines for Amber Fairbanks
0shares vested or exercised
0gifted (net of own trusts)
−498withheld by the company for taxes
none reportedunvested awards, start → end
Held throughShare classOct 8, 2025Oct 8, 2026
DirectCommon Stock3,0124,471
John Case
Director
2000200no sales
Vesting, gifts, unvested awards and holding lines for John Case
0shares vested or exercised
0gifted (net of own trusts)
21K → 42Kunvested awards, start → end
Held throughShare classOct 8, 2025Oct 8, 2026
DirectCommon Stock200200
Tamara Fischer
Director
001.1Kno sales
Vesting, gifts, unvested awards and holding lines for Tamara Fischer
0shares vested or exercised
0gifted (net of own trusts)
6K → 11Kunvested awards, start → end
Held throughShare classOct 8, 2025Oct 8, 2026
DirectCommon Stock01,100

17 of 19 insiders fully reconciled: starting holdings plus reported transactions match ending holdings (15 exactly, 2 with a minor or footnoted difference). For 2 we show sales but not holdings; the ! icon on their rows explains why. Percentages cover 14 of 19 officers and directors. Left out: Adrian Hill and Timothy Argo (holdings couldn't be fully reconciled); Green Kelly, Tamara Fischer and Sheila McGrath (held no vested shares at the start). "Still held" compares ending with starting vested shares; a plus sign means the holding grew.

What explains the selling$1.2M of sales by plan status, purpose, seller and month

Officer and director open-market sales: $1.2M across 8,634 shares. Plan status and stated purpose are separate questions, and a sale can have both.

By plan status

The lighter segment is sales with no plan disclosed in the filing ($46K), including tax-related sales outside a plan.

No plan disclosed · $46K

Sales with no 10b5-1 plan and no tax reference in the filing. $46K of it is James French. No plan disclosed is a statement about the filing, not about why the sale happened. Largest such sale: James French, May 8, 2026

Taxes

$369K of sales (31.7%) cite tax obligations in their footnotes, $369K of them also under a plan. Separately, 14,520 shares ($1.8M) were withheld by the company for taxes, which isn't a market sale. Example: Amber Fairbanks, Apr 6, 2026

Purchases · 3 buyers (4 trades)

3 officers and directors bought shares in this period, in 4 trades(Form 4 code P). Across all their filings on record there are 25 purchase trades.

SellerShares soldProceedsUnder a disclosed planShare of totalSales dates
Robert DelPriore
EVP, General Counsel
5.4K$750K100%64%Jan 2, 2026 to Jan 2, 2026
Melanie Carpenter
EVP & CHRO
1.2K$150K100%13%Jan 6, 2026 to Apr 6, 2026
Amber Fairbanks
EVP, Property Management
1.1K$145K100%12%Jan 6, 2026 to Apr 6, 2026
James French
EVP Investments
350$46K0%4%May 8, 2026 to May 8, 2026
Timothy Argo
EVP, Chief Strategy & Analysis
294$38K100%3%Jan 6, 2026 to Apr 6, 2026
Aubrey Holder
EVP, CFO
269$35K100%3%Jan 6, 2026 to Apr 6, 2026

Sales by month

MonthSale proceedsDisclosed planTo cover taxesNo plan disclosed
Oct 2025$0$0$0$0
Nov 2025$0$0$0$0
Dec 2025$0$0$0$0
Jan 2026$898K$898K$0$0
Feb 2026$0$0$0$0
Mar 2026$0$0$0$0
Apr 2026$221K$221K$0$0
May 2026$46K$0$0$46K
Jun 2026$0$0$0$0
Jul 2026$0$0$0$0
Aug 2026$0$0$0$0
Sep 2026$0$0$0$0
Oct 2026$0$0$0$0
Is this normal? Selling year by year5 earlier years to compare with

Less than usual: about a quarter of the 5-year average. 6 insiders sold; the average is 6 a year.

12 months endingShares soldInsiders who soldProceeds
Oct 8, 2026
Latest 12 months
8.6K6$1.2M
Oct 8, 2025
1 year earlier
9.5K6$1.5M
Oct 8, 2024
2 years earlier
19K4$2.5M
Oct 9, 2023
3 years earlier
8.1K6$1.2M
Oct 9, 2022
4 years earlier
62K6$13.1M
Oct 9, 2021
5 years earlier
83K7$13.7M

Open-market sales (Form 4 code S) by people who were officers or directors, in split-adjusted shares. Earlier years include people who have since left. A sale that an outside holder also reports (a family trust, a fund) is counted with outside holders in every year. Shares, not dollars, are compared, so a change in the stock price doesn't look like a change in selling. Years the filings don't fully cover are shown but left out of the average.

Known gaps and uncertainty2 insiders whose holdings couldn't be fully reconciled

Adrian Hill: holdings couldn't be fully reconciled (difference of 1,079 shares). Balance changed with no matching transaction and no footnote: +1,078.8467 shares on Dec 12, 2025 (Direct). Filing, Dec 12, 2025

Timothy Argo: holdings couldn't be fully reconciled (difference of 433 shares). Balance changed without a matching transaction, and the footnote does not state the amount: +291.6471 shares on Jan 4, 2026 (Direct). Filing, Jan 4, 2026

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

Eric Bolton Jr.: minor difference of 425 shares. Difference is under 0.5% of holdings.

Melanie Carpenter: minor difference of 41 shares. Difference is under 0.5% of holdings.

Inferred rename: "For Virgina Ann Grimes" is treated as the same holder as "For Virginia Ann Grimes", because the old name was never reported again and the new one opened with the same balance (1 shares). Old name, new name

Inferred rename: "POA, Mimi R. Smith" is treated as the same holder as "Estate of Executor, Mary Neel Reid Smith", because the old name was never reported again and the new one opened with the same balance (1,500 shares). Old name, new name

Inferred rename: "Estate of Executor, Mary Neel Reid Smith" is treated as the same holder as "Trustee, CAS and WRS GST Trust", because the old name was never reported again and the new one opened with the same balance (1,500 shares). Old name, new name

Inferred rename: "CLP 401(k)" is treated as the same holder as "401(k)", because the old name was never reported again and the new one opened with the same balance (42,584 shares). Old name, new name

Inferred rename: "Allocated Shares in ESOP" is treated as the same holder as "Allocated Shares of ESOP", because the old name was never reported again and the new one opened with the same balance (851 shares). Old name, new name

External context: we only cite outside events when a documented connection exists. None is shown for this period.

Sources and methodology1,453 filings from SEC EDGAR, and how we read them

All 1,453 Forms 3, 4 and 5 filed for Mid-America Apartment Communities (SEC CIK 912595) from May 8, 2002 to Sep 23, 2026, retrieved from SEC EDGAR on Oct 8, 2026. Prices are the ones reported in each filing, often weighted averages. 42 older filings exist only on paper and could not be read.

Holdings. Each holding line (a share class plus an owner, such as a trust or LLC) carries its last reported balance forward. Entities first reported during the period start at zero, so transfers between an insider's own trusts don't count as selling. Lines not reported for three years or more are listed separately and left out of totals.

Sales. A sale counts as under a 10b5-1 plan if its footnote cites one or the filing's Rule 10b5-1 box is checked, and as tax-related if its footnote cites tax obligations or sell-to-cover. Shares withheld by the company for taxes are listed separately. Sales with neither attribute are labeled "no plan disclosed".

Full methodology

Former or inactive filers (21)No filing in 18 months; last reported balances, not in any total
NameLast filedLast reported balance
William SandersDec 11, 2024153,972 shares, last reported balance as of Dec 10, 2024
James LowderMay 22, 2024246,649 shares, last reported balance as of May 21, 2024
Albert Campbell IIIApr 5, 202426,582 shares, last reported balance as of Apr 3, 2024
Philip NorwoodMay 17, 202315,306 shares, last reported balance as of May 16, 2023
Toni JenningsMay 17, 202311,255 shares, last reported balance as of May 16, 2023
Thomas Grimes Jr.Jan 5, 202350,244 shares, last reported balance as of Dec 15, 2022
Monica McGurkJan 5, 20230 shares, last reported balance as of Jan 3, 2023
Russell FrenchMay 20, 20215,530 shares, last reported balance as of May 18, 2021
William SansomMay 25, 20178,274 shares, last reported balance as of May 23, 2017
Edward WrightMar 3, 201728,860 shares, last reported balance as of Mar 1, 2017
Ralph HornMay 19, 201641,836 shares, last reported balance as of May 17, 2016
Harold RippsMay 21, 2015864,816 shares, last reported balance as of May 19, 2015
John SpiegelMay 21, 201536,759 shares, last reported balance as of May 19, 2015
John GrinaldsMay 22, 20137,119 shares, last reported balance as of May 21, 2013
Simon WadsworthApr 3, 2012152,002 shares, last reported balance as of Mar 30, 2012
James TaylorMar 5, 20126,590 shares, last reported balance as of Mar 1, 2012
Mary McCormickDec 3, 20092,385 shares, last reported balance as of Dec 2, 2009
George CatesDec 23, 2008631,107 shares, last reported balance as of Dec 17, 2008
Michael StarnesMay 23, 20074,228 shares, last reported balance as of May 10, 2007
Robert FogelmanMay 23, 2007575,228 shares, last reported balance as of Dec 8, 2006
John FlournoyMar 16, 2006349,260 shares, last reported balance as of Mar 14, 2006