Agree Realty director buys 10,000 shares at $72.42

Rhea-AI Filing Summary

AGREE REALTY CORP (ADC) director John Rakolta Jr reported a purchase of 10,000 Common Shares on August 31, 2026 in an open-market or private transaction at a weighted average price of $72.42 per share, with individual trade prices ranging from $72.40 to $72.43. After this transaction, he held 632,197.004 Common Shares directly and 146 Common Shares indirectly through his wife. No transactions were reported under a Rule 10b5-1 trading plan.

Insider Trade Summary

Net Buyer: 10,000 shares

Net Buy 2 txns

Insider RAKOLTA JOHN JR

Role Director

Bought 10,000 shs ($724K)

Type	Security	Shares	Price	Value
Purchase	Common Shares F1	10,000	$72.42	$724K
holding	Common Shares	--	--	--

Holdings After Transaction: Common Shares — 632,197.004 shares (Direct); Common Shares — 146 shares (Indirect, By wife)

Footnotes (1)

1. F1. The reported price in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $72.40 to $72.43. 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 the footnote.

Key Figures

Shares purchased: 10,000 Common Shares Weighted average purchase price: $72.42 per share Direct holdings after transaction: 632,197.004 Common Shares +2 more

5 metrics

Shares purchased 10,000 Common Shares Open-market or private purchase on August 31, 2026

Weighted average purchase price $72.42 per share Purchases on August 31, 2026, with prices from $72.40 to $72.43

Direct holdings after transaction 632,197.004 Common Shares Direct ownership by John Rakolta Jr after August 31, 2026 purchase

Indirect holdings after transaction 146 Common Shares Indirect ownership held by the director’s wife

Price range of individual trades $72.40 to $72.43 per share Multiple transactions aggregated into the reported weighted average price

Key Terms

weighted average price, multiple transactions, Securities & Exchange Commission

3 terms

weighted average price financial

"The reported price in Column 4 is a weighted average price."

Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.

multiple transactions financial

"These shares were purchased in multiple transactions at prices ranging"

Securities & Exchange Commission regulatory

"or the staff of the Securities & Exchange Commission, upon request, full"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did ADC director John Rakolta Jr report?

He reported a purchase of 10,000 Common Shares of AGREE REALTY CORP on August 31, 2026 in an open-market or private transaction at a weighted average price of $72.42 per share, with trade prices ranging from $72.40 to $72.43.

How many AGREE REALTY CORP (ADC) shares does the director hold after this transaction?

After the August 31, 2026 purchase, John Rakolta Jr held 632,197.004 Common Shares directly and 146 Common Shares indirectly through his wife, as reported in the filing.

Was the ADC insider share purchase made under a Rule 10b5-1 trading plan?

No. The filing indicates that no Rule 10b5-1 trading plan governed the reported transactions, so the August 31, 2026 purchase was not affirmed as being made under such a plan.

What price did the ADC director pay per share in the reported purchase?

The director paid a weighted average price of $72.42 per share for the 10,000 Common Shares purchased on August 31, 2026, with individual trade prices ranging from $72.40 to $72.43.

How many AGREE REALTY CORP shares are held indirectly by the director’s wife?

The filing reports that 146 Common Shares of AGREE REALTY CORP are held indirectly by John Rakolta Jr through his wife after the reported transactions.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 09/02/2026 - 04:06 PM EDT Accepted by SEC EDGAR 09/02/2026 - 04:05 PM EDT Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

RAKOLTA JOHN JR

(Last) (First) (Middle)

32301 WOODWARD AVENUE

(Street)

ROYAL OAK MICHIGAN 48073

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
AGREE REALTY CORP [ ADC ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
08/31/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Shares	08/31/2026		P		10,000	A	$72.42(1)	632,197.004	D
Common Shares								146	I	By wife

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The reported price in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $72.40 to $72.43. 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 the footnote.

Remarks:

	/s/ Stephen Breslin, Attorney-in-Fact	09/02/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)