JOHN RAKOLTA JR - 08 May 2023 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: 08 May 2023
Transactions value $: $712,086
Form type: 4
Filing time: 10 May 2023, 07:00:06 UTC
Previous filing: 27 Feb 2023
Next filing: 15 May 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	$712,085	+10,495	+3.87%	$67.85	281,768	08 May 2023	Direct	F1
holding	ADC	Common Shares						213	08 May 2023	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 $67.56 to $68.16 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 $67.56 to $68.16 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.