JOHN RAKOLTA JR - 21 Dec 2022 Form 4 Insider Report for AGREE REALTY CORP (ADC)

Role: Director
Signature: /s/ Cheryl A. Hamilton, Attorney-in-Fact
Issuer symbol: ADC
Transactions as of: 21 Dec 2022
Net transactions value: +$785,180
Form type: 4
Filing time: 22 Dec 2022, 15:05:13 UTC
Previous filing: 11 Apr 2022
Next filing: 14 Feb 2023
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	ADC	Common Shares	Purchase	$785,180	+11,000	+4.3%	$71.38	268,816	21 Dec 2022	Direct	F1
holding	ADC	Common Shares						213	21 Dec 2022	by wife

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The reported price in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $71.23 to $71.4837 per share. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

Content

The reported price in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $71.23 to $71.4837 per share. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.