Here are the DEF 14A proxy statements from Agree Realty Corporation (ADC) in our archive over the last 12 months, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A DEF 14A covers the proxy statement, with executive pay and the shareholder votes, so if you follow ADC and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full ADC filings page.
Agree Realty Corporation is asking stockholders to elect two directors, ratify Grant Thornton LLP as auditor for 2026, and approve a non-binding advisory vote on executive compensation at its virtual 2026 annual meeting.
The company highlights a net-lease retail portfolio of 2,674 properties across all 50 states totaling about 55.5 million square feet, 99.7% leased with a weighted average remaining lease term of 7.8 years as of December 31, 2025. Roughly 66.8% of annualized base rent comes from tenants or parents with investment-grade credit ratings.
For 2025, net income per share attributable to common stockholders was $1.77. Core Funds From Operations per share rose 5.1% to $4.28 and Adjusted FFO per share increased 4.6% to $4.33. Dividends of $3.081 per share represented 2.7% growth and about 71% of AFFO per share. The company invested $1.55 billion in 338 properties, completed a $400 million senior notes offering due 2035, raised about $714 million of forward equity, and ended 2025 with over $2.0 billion of liquidity and pro forma net debt to recurring EBITDA of 3.8 times.
The proxy also emphasizes a pay-for-performance executive compensation program with a growing mix of performance-based long-term incentives, stringent stock ownership requirements (20x base salary for the CEO, 6x for other covered officers, and 8x annual cash compensation for non-employee directors), and extensive governance and sustainability initiatives overseen by an independent board and an ESG Steering Committee.