John Rakolta Jr - Apr 8, 2025 Form 4 Insider Report for AGREE REALTY CORP (ADC)

Role: Director
Signature: /s/ Donald J. Kunz, Attorney-in-Fact
Stock symbol: ADC
Transactions as of: Apr 8, 2025
Transactions value $: $2,002,104
Form type: 4
Date filed: 4/10/2025, 06:30 AM
Previous filing: Feb 25, 2025
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	$2M	+28.1K	+5.85%	$71.30	508K	Apr 8, 2025	Direct	F1, F2

* 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 $70.98 to $71.35 per share. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities & Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.
F2	Includes 1,608.193 shares acquired under a dividend reinvestment plan since the last Statement of Changes in Beneficial Ownership filed by Reporting Person.

Content

The reported price in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $70.98 to $71.35 per share. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities & Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

Includes 1,608.193 shares acquired under a dividend reinvestment plan since the last Statement of Changes in Beneficial Ownership filed by Reporting Person.