On February 24, 2021, James C. Hopke, Jr. notified American Campus Communities, Inc. that he is retiring as President of the American Campus Communities, Inc. effective as of August 24, 2021, at which time William C. Bayless, Jr., currently the Chief Executive Officer of the Company, will assume the additional position of President. The terms of Mr. Hopke's retirement are set forth in his employment agreement with the company.