Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On December 31, 2022, Apartment Income REIT, L.P. (the "Company"), and the Company's chief executive officer, Terry Considine, entered into a second amendment (the "Second Amendment") to Mr. Considine's employment agreement dated December 29, 2017, as amended on October 29, 2021. The Second Amendment became effective on December 31, 2022, and amends the employment agreement (i) to extend the term of his employment agreement by an additional year, through December 31, 2023, unless further extended or earlier terminated as provided in the employment agreement and (ii) to reflect that Mr. Considine's compensation earned and payable with respect to any fiscal year will be reduced to assist the Company's achievement of its goal that general and administrative expenses not exceed 0.15% of the Company's gross asset value, as determined by the Company's board of directors and Mr. Considine.

The foregoing description of the Second Amendment does not purport to be complete and is qualified in its entirety by reference to the complete text of the agreement, a copy of which is attached as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.

(d) The following exhibits are filed with this report:



Exhibit No.  Description
  10.1         Second Amendment dated December 31, 2022, to employment agreement
             between Terry Considine and Apartment Income REIT, L.P. (f/k/a
             AIMCO Properties, L.P.)
104          Cover Page Interactive Data File (embedded within the Inline XBRL
             document).

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