Conor Flynn
About Conor Flynn
Conor C. Flynn, age 45, was appointed as an independent director of AvalonBay Communities, Inc. on November 10, 2025. He has been CEO and a board member of Kimco Realty Corporation since 2016, having joined Kimco in 2003 and serving in senior roles including President, COO, CIO, and President – Western Region. He holds a B.A. from Yale University and a Master’s in Real Estate Development from Columbia University; he is a past Chair of the Nareit Executive Board and a member of The Real Estate Roundtable .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Kimco Realty Corporation | Chief Executive Officer; Director | 2016–present | Led strategy across capital markets, allocation, development, operations, planning |
| Kimco Realty Corporation | President; Chief Operating Officer; Chief Investment Officer | Various roles (2003–2016) | Senior leadership across operations and investments |
| Kimco Realty Corporation | President – Western Region | Pre-2016 | Regional leadership |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Nareit Executive Board | Member; past Chair | Ongoing | Industry leadership and policy engagement |
| The Real Estate Roundtable | Member | Ongoing | Policy advocacy, industry collaboration |
Board Governance
- Appointment and independence: Appointed to AVB’s Board on November 10, 2025; the Board determined he is independent .
- Committee assignments: None assigned as of appointment; Board indicated no committee roles yet .
- Board structure and practices (context): Independent Audit, Compensation, and NGCR committees; Lead Independent Director; executive sessions; clawback, no pledging/anti-hedging policies; majority voting; proxy access .
- Attendance (context): AVB’s Board met seven times in 2024; each director attended ≥75% of meetings in periods served (pre-Flynn) .
Fixed Compensation
Standard non-employee director compensation at AVB (effective after the May 2025 Annual Meeting):
| Component | Amount | Payment/Terms |
|---|---|---|
| Annual cash retainer | $100,000 | Quarterly, cash or DSUs |
| Annual equity retainer (restricted stock or DSUs) | $200,000 | Granted 5th business day after annual meeting; vests in equal quarterly installments over 1 year |
| Audit Committee Chair retainer | $30,000 | Quarterly, cash or DSUs |
| Compensation Committee Chair retainer | $25,000 | Quarterly, cash or DSUs |
| IFC Chair and NGCR Chair retainers | $20,000 | Quarterly, cash or DSUs |
| Lead Independent Director retainer | $50,000 | Quarterly, cash or DSUs |
| Non-Executive Chairman retainer | $250,000 | Quarterly, cash or DSUs |
Notes: DSUs/restricted stock vest quarterly; dividend equivalents accrue as RSUs and are deferred; accelerated vesting on departure except voluntary resignation mid-term (not due to death/disability) or removal for cause .
Performance Compensation
Directors do not receive performance-based awards; equity grants are time-based. Vesting and settlement terms:
| Equity Feature | Term | Details |
|---|---|---|
| Equity vesting cadence | Quarterly | Annual equity retainer vests in four equal quarterly installments over 1 year |
| Accelerated vesting | Departure-related | Accelerates upon departure except voluntary mid-term resignation (not due to death/disability) or removal for cause |
| DSU settlement | Post-service | DSUs settle in shares after termination of service; dividend equivalents accrue as RSUs |
Other Directorships & Interlocks
| Company | Role | Since/Through | Interlocks/Notes |
|---|---|---|---|
| Kimco Realty Corporation (NYSE: KIM) | CEO; Director | CEO since 2016 | No shared public-company directorships identified with current AVB directors based on 2025 proxy bios (directors serve on Public Storage, Orion Office REIT, Star Holdings, Digital Realty, Boston Properties, Park Hotels & Resorts, Simon Property Group, Maui Land & Pineapple, Blackstone Mortgage Trust) |
AVB committee charters require independence; related-party transactions are overseen under NGCR policy and AVB’s Code of Conduct .
Expertise & Qualifications
- Extensive REIT operating and capital allocation experience (development, operations, capital markets, strategic planning) .
- Education: B.A. Yale; MRED Columbia .
- Industry leadership: Past Chair, Nareit Executive Board; member, Real Estate Roundtable .
Equity Ownership
| Filing | Event date | Form | Beneficial ownership at filing | Notes |
|---|---|---|---|---|
| SEC Initial Statement of Beneficial Ownership | 11/10/2025 | Form 3 | 0 shares (no securities beneficially owned) | Filed Nov 12, 2025 |
Director stock ownership guidelines: Non-employee directors must hold shares/DSUs equal to ≥5x annual cash retainer (i.e., ≥$500,000 based on $100,000 cash retainer) within five years of Board service commencement .
Governance Assessment
- Board effectiveness: Adds a sitting REIT CEO with deep sector expertise; expected to strengthen capital allocation and development oversight at AVB .
- Independence and conflicts: Board affirmatively determined independence; AVB has strict related-party review by NGCR and a Code prohibiting conflicts absent Board-sanctioned mitigation/waiver .
- Committee role timing: No committee assignment at appointment; future placement will signal focus areas (Audit/IFC/Compensation/NGCR) .
- Alignment: Initial Form 3 shows no holdings at appointment; AVB’s director ownership guideline (5x cash retainer in five years) and quarterly vesting equity retainer provide a clear path to alignment .
- Policies that bolster investor confidence: Anti-hedging and no-pledging for directors; clawback policy; majority voting; proxy access; robust committee independence .
Potential red flags or risk indicators
- None disclosed specific to Flynn; AVB policies on related-party transactions and director independence mitigate conflicts; no pledging/hedging allowed; no director-related party transactions disclosed in 2025 proxy .
Appointment disclosure sources: AVB press release (Nov 10, 2025) and 8-K (Nov 10, 2025) .