Item 1A. Risk Factors.

There have been no material changes to the risk factors that were discussed in Part I, Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2025, filed with the SEC on February 6, 2026.

Item 2. Unregistered Sales of Equit****y Securities and Use of Proceeds.

Purchases of Equity Securities

In December 2015, MAA’s Board of Directors authorized a 4.0 million share repurchase program. The following table summarizes all of MAA’s repurchases of shares of its common stock under this program during the three months ended June 30, 2026:

(1)

This column reflects the number of shares of MAA’s common stock that are available for purchase under the 4.0 million share repurchase program authorized by MAA’s Board of Directors in December 2015.

During the three months ended June 30, 2026, certain of the Company’s employees surrendered shares of common stock owned by them to satisfy their statutory federal and state tax obligations associated with the vesting of restricted shares of common stock issued under our Long Term Incentive Plan (the “LTIP”). The following table summarizes all of these repurchases during the three months ended June 30, 2026:

(1)

The shares reflected in this column are shares of MAA’s common stock surrendered by employees to satisfy their statutory minimum federal and state tax obligations associated with the vesting of restricted shares.

(2)

The price per share is based on the closing price of MAA’s common stock as of the date of determination of the statutory minimum for federal and state tax obligations.

Item 3. Defaults Upo****n Senior Securities.

Not applicable.

Item 4. Mine Safe****ty Disclosures.

Not applicable.