Stephen Breslin - 23 Feb 2025 Form 4 Insider Report for AGREE REALTY CORP (ADC)

Signature
/s/ Cheryl A. Hamilton, Attorney-in-Fact
Issuer symbol
ADC
Transactions as of
23 Feb 2025
Net transactions value
-$53,749
Form type
4
Filing time
25 Feb 2025, 16:15:10 UTC
Previous filing
03 Dec 2024
Next filing
03 Dec 2025

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ADC Common Shares Award $0 +2,746 +27% $0.000000 13,015 23 Feb 2025 Direct F1
transaction ADC Common Shares Tax liability $53,749 -738 -5.7% $72.83 12,277 23 Feb 2025 Direct F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents the issuance of restricted common shares to the reporting person by the Issuer's Compensation Committee of the Board of Directors. 916, 915 and 915 of these shares shall become vested and nonforfeitable, subject to the reporting person's continued service as an employee of the Issuer, on February 23, 2026, February 23, 2027, and February 23, 2028, respectively.
F2 Represents common shares withheld by the Issuer as payment of tax withholdings due upon vesting of 2,259 common shares.