MAA-I Mid America Apartment Communities Inc

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): September 6, 2023

 

MID-AMERICA APARTMENT COMMUNITIES, INC.

(Exact name of registrant as specified in its charter)

 

Tennessee	001-12762	62-1543819
(State or Other Jurisdiction of incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

 

 

MID-AMERICA APARTMENTS, L.P.

(Exact name of registrant as specified in its charter)

 

Tennessee	333-190028-01	62-1543816
(State or Other Jurisdiction of incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

 

6815 Poplar Avenue, Suite 500
Germantown, Tennessee	38138
(Address of Principal Executive Offices)	(Zip Code)

 

(901) 682-6600

(Registrant’s telephone number, including area code)

 

N/A

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

☐		Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐		Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐		Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐		Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, par value $.01 per share (Mid-America Apartment Communities, Inc.)	MAA	New York Stock Exchange
8.50% Series I Cumulative Redeemable Preferred Stock, $.01 par value per share (Mid-America Apartment Communities, Inc.)	MAA*I	New York Stock Exchange

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 

 

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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 September 6, 2023, Mid-America Apartment Communities, Inc. (the “Company”) announced that Albert M. Campbell, III will be retiring from his position as Executive Vice President and Chief Financial Officer of the Company, effective March 31, 2024 (the “Transition Date”). A. Clay Holder, the Company’s current Senior Vice President and Chief Accounting Officer, will assume responsibilities as the Company’s Chief Financial Officer effective upon Mr. Campbell’s retirement. Mr. Campbell’s retirement is not the result of any disagreement regarding any matter relating to the Company’s operations, policies or practices, and, as part of his planned retirement, Mr. Campbell will remain an advisor to the Company through the end of calendar year 2024 to further support the Company and facilitate an orderly transition.

Mr. Holder, age 46, joined the Company in 2017 as Senior Vice President and Chief Accounting Officer, prior to which he spent seven years in multiple accounting and finance roles at AutoZone, Inc. Mr. Holder began his career in public accounting with Arthur Anderson LLP and Deloitte & Touche LLP and is a licensed Certified Public Accountant.

There are no arrangements or understandings between Mr. Holder and any other persons pursuant to which he was appointed as Chief Financial Officer of the Company (to be effective upon Mr. Campbell’s retirement). There are no family relationships between Mr. Holder and any of the Company’s directors or other executive officers, and Mr. Holder is not a party to any transaction, or any proposed transaction, required to be disclosed pursuant to Item 404(a) of Regulation S-K.

The Company has not appointed a new principal accounting officer and Mr. Holder will continue to serve in such capacity.

ITEM 7.01. Regulation FD Disclosure.

On September 6, 2023, the Company issued a press release announcing the upcoming retirement of Mr. Campbell and the appointment of Mr. Holder as the Company’s Chief Financial Officer effective upon Mr. Campbell’s retirement. A copy of that press release is furnished as Exhibit 99.1 to this Current Report.

The information in this Current Report under this Item 7.01 (including Exhibit 99.1) is being “furnished” and shall not be deemed to be “filed” for any purpose, including for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed to be incorporated by reference into any previous or future filings by the Company under the Exchange Act or the Securities Act of 1933, as amended.

ITEM 9.01. Financial Statements and Exhibits.

(d) Exhibits

Exhibit Number		Description
99.1		Press Release dated September 6, 2023
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

 

 

 

 

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SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

			MID-AMERICA APARTMENT COMMUNITIES, INC.
Date:	September 6, 2023		/s/Albert M. Campbell, III
			Albert M. Campbell, III
			Executive Vice President and Chief Financial Officer
			(Principal Financial Officer)

 

			MID-AMERICA APARTMENTS, L.P.
			By: Mid-America Apartment Communities, Inc., its general partner
Date:	September 6, 2023		/s/Albert M. Campbell, III
			Albert M. Campbell, III
			Executive Vice President and Chief Financial Officer
			(Principal Financial Officer)

 

 

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Exhibit 99.1

 

 

PRESS RELEASE

MAA Announces Planned Retirement of Albert M. Campbell, CFO, and Internal Promotion of A. Clay Holder

GERMANTOWN, Tenn., September 6, 2023 /PRNewswire/ -- Mid-America Apartment Communities, Inc. (“MAA”) (NYSE: MAA) announced today that Albert M. Campbell, Executive Vice-President and Chief Financial Officer, will retire effective March 31, 2024. A. Clay Holder, Senior Vice-President and Chief Accounting Officer, will assume responsibilities as the Chief Financial Officer effective with Mr. Campbell’s retirement. As part of his planned retirement, Mr. Campbell will remain as an advisor to the company through the end of calendar year 2024 to further support the company and facilitate an orderly transition.

Mr. Campbell joined MAA in 1998 and was promoted to Chief Financial Officer in January 2010. Mr. Holder joined MAA in 2017 as Senior Vice-President and Chief Accounting Officer. Prior to joining MAA, Mr. Holder spent seven years in multiple accounting and finance roles at AutoZone, Inc. Mr. Holder began his career in public accounting with Arthur Andersen and Deloitte and is a licensed Certified Public Accountant.

Eric Bolton, Chairman and CEO, said, “We are grateful for Al’s twenty-five years of exceptional service, which includes the integration of the Colonial and Post acquisitions, the systematic deleveraging of our balance sheet and the initial and subsequent accessing of the investment grade debt capital markets. Al and our Accounting and Finance team have our balance sheet and our finance, accounting, tax, and internal audit operations in a strong position. In his capacity as our Chief Accounting Officer, Clay has extensive knowledge of our finance and accounting operations and has been a key contributor to our success. We are excited to see him take on additional responsibilities as our Chief Financial Officer.

“Our senior leadership team at MAA has extensive industry experience, and a long tenure with our company, averaging 15 years at MAA. Our portfolio of high-quality properties, uniquely diversified across high-growth markets, supported by cycle-tested leadership, a sophisticated operating platform and a strong balance sheet, has MAA well-positioned to drive higher value for the constituents that we serve.”

About MAA

MAA, an S&P 500 company, is a self-administered real estate investment trust (REIT) focused on delivering strong, full-cycle investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of apartment communities primarily in the Southeast, Southwest and Mid-Atlantic regions of the United States. For further details, please refer to www.maac.com or contact Investor Relations at investor.relations@maac.com.

 

 

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v3.23.2

Document And Entity Information	Sep. 06, 2023
Document And Entity Information [Line Items]
Document Type	8-K
Amendment Flag	false
Document Period End Date	Sep. 06, 2023
Entity Registrant Name	MID-AMERICA APARTMENT COMMUNITIES, INC.
Entity Central Index Key	0000912595
Entity Emerging Growth Company	false
Entity File Number	001-12762
Entity Incorporation, State or Country Code	TN
Entity Tax Identification Number	62-1543819
Entity Address, Address Line One	6815 Poplar Avenue
Entity Address, Address Line Two	Suite 500
Entity Address, City or Town	Germantown
Entity Address, State or Province	TN
Entity Address, Postal Zip Code	38138
City Area Code	901
Local Phone Number	682-6600
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Common Stock [Member]
Document And Entity Information [Line Items]
Title of 12(b) Security	Common Stock, par value $.01 per share
Trading Symbol(s)	MAA
Security Exchange Name	NYSE
Cumulative Preferred Stock [Member]
Document And Entity Information [Line Items]
Title of 12(b) Security	8.50% Series I Cumulative Redeemable Preferred Stock, $.01 par value per share
Trading Symbol(s)	MAA*I
Security Exchange Name	NYSE
Limited Partner [Member]
Document And Entity Information [Line Items]
Entity Registrant Name	MID-AMERICA APARTMENTS, L.P.
Entity File Number	333-190028-01
Entity Incorporation, State or Country Code	TN
Entity Tax Identification Number	62-1543816

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