AvalonBay Communities, Inc. announced that On July 11, 2019, Leo S. Horey, Chief Administrative Officer, informed the Company of his intent to retire on or about January 1, 2020 (the Retirement Date). In his role as Chief Administrative Officer, Mr. Horey has leadership responsibility for, among other matters, information services, revenue management, data analytics, human resources, strategic initiatives and retail leasing. In connection with his retirement, Mr. Horey's leadership responsibilities will transition to other executive officers, primarily Sean J. Breslin, Chief Operating Officer, and Matthew H. Birenbaum, Chief Investment Officer. The Company does not intend at this time to promote or recruit for a replacement for Mr. Horey's role.