AvalonBay Communities Inc. rejected the resignation tendered by director Ronald Havner Jr., citing his contributions to the company. Havner failed to secure an affirmative vote needed for re-election at the company's annual meeting of stockholders May 18, but as he was running unopposed, he retained his seat on the board. Per the company bylaws, Havner tendered his resignation. The board of directors believes Havner did not secure the votes needed because shareholders where concerned with the number of other boards he served on. However, given Havner's planned resignation from the board of another company in 2018, the board of directors refused his resignation.