Joey Agree - Feb 23, 2025 Form 4 Insider Report for AGREE REALTY CORP (ADC)

Role
PRESIDENT & CEO, Director
Signature
/s/ Cheryl A. Hamilton, Attorney-in-Fact
Stock symbol
ADC
Transactions as of
Feb 23, 2025
Transactions value $
-$2,092,843
Form type
4
Date filed
2/25/2025, 04:15 PM
Previous filing
Dec 18, 2024
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ADC Common Shares Award $0 +26.8K +4.55% $0.00 616K Feb 23, 2025 Direct F1
transaction ADC Common Shares Award $0 +41.9K +6.81% $0.00 658K Feb 23, 2025 Direct F2
transaction ADC Common Shares Tax liability -$2.09M -28.7K -4.37% $72.83 629K Feb 23, 2025 Direct F3
holding ADC Common Shares 2.19K Feb 23, 2025 By children
* 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. 8,925 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 the issuance of restricted common shares to the reporting person by the Issuer's Compensation Committee of the Board of Directors upon vesting of the performance shares. 13,973 of the restricted shares issued upon vesting of the performance shares vested immediately on February 23, 2025 while 13,973 and 13,973 of the restricted shares issued shall become vested and nonforfeitable, subject to the reporting person's continued service as an employee of the Issuer, on February 23, 2026 and February 23, 2027, respectively.
F3 Represents common shares withheld by the Issuer as payment of tax withholdings due upon vesting of 65,852 common shares.