Good morning, and welcome to the special meeting of stockholders of AvalonBay Communities, Inc. We do not expect any technical difficulties today. However, in the event we lose audio or internet connection and are unable to provide any update, please wait 10 minutes for resolution. Please refer to the company's investor website for updates. I would now like to turn the meeting over to Benjamin Schall, Chief Executive Officer and President, and member of the board, who will chair today's meeting. Thank you. This meeting is now officially called to order. There are three proposals to be acted on at this meeting, which are set forth in the company's proxy statement delivered to shareholders in connection with this meeting. I will now turn the meeting to Ted Schulman, Executive Vice President, General Counsel, and Secretary, to report on certain introductory matters. Thank you, Ben. The special meeting is being held in accordance with the AvalonBay Communities, Inc. bylaws and Maryland law. I would also like to introduce Anna Hagberg-Seto, a representative from Broadridge Financial Solutions, who is acting as the Inspector of Elections for this meeting. Ms. Hagberg-Seto has signed an oath of office, which will be filed with the minutes of this meeting. Beginning on July 13, 2026, Broadridge mailed the meeting notice and meeting materials to stockholders of record as of the close of business on July 9, 2026. The Inspector of Elections has now reported that the holders of more than a majority of the company's common stock, issued and outstanding and entitled to vote, are present in person or by proxy at this meeting, thereby constituting a quorum. With a quorum being present, this meeting is hereby declared open to proceed with business. We will now proceed with voting on the agenda items. The polls are now open and will remain open during the discussion of the proposals. You may vote online during this meeting while the polls are open, but if you have already voted and you do not wish to change your vote, you do not need to vote again at today's meeting, and your vote will be cast as you have previously instructed. Mr. Schall will now introduce the proposals. As presented in the proxy statement, there are three proposals to be voted on at this meeting. One, a proposal to approve the merger of the company with and into Canopy Merger Sub LLC, with Canopy Merger Sub LLC surviving the merger as a direct, wholly-owned subsidiary of Equity Residential, pursuant to the agreement and plan of merger, dated as of May 20, 2026, by and among the company, Equity Residential, ERP Operating Limited Partnership, and Canopy Merger Sub LLC, and the other transactions contemplated by the merger agreement on the terms and conditions set forth therein or the merger proposal. Two, a proposal to approve on a non-binding advisory basis the compensation that may be paid or become payable to the named executive officers of AvalonBay Communities, Inc. in connection with the transactions contemplated by the merger agreement or the merger-related compensation proposal. Three, a proposal to approve the adjournment of the special meeting from time to time, if necessary or appropriate, to solicit additional proxies if, immediately prior to such adjournment, there are insufficient votes to approve the merger proposal. The board recommends a vote for each of proposals one, two, and three. We will now pause for a few moments to allow any final voting. I now declare the polls closed. No further proxies or votes and no further changes or revocations will be accepted. Ms. Anna Hagberg-Seto, would you please provide me with your preliminary report of the results? According to the preliminary results of the Inspector of Election, the merger proposal has been approved, and the merger-related compensation proposal has been approved. The adjournment proposal has been approved, but as the merger proposal has been approved, it is not necessary to adjourn today's meeting. Please note that these are all preliminary voting results. The final voting results will be set forth in the report of the Inspector of Election and will be included in the minutes of the meeting. The final results will also be reported in a current report on Form 8-K to be filed with the SEC within four business days of this meeting. This concludes the business to come before this special meeting. Thanks to all for attending. As there is no further business to come before the meeting, this meeting is hereby adjourned. That will conclude today's call. We appreciate your participation.