Agree Realty Corporation Form 4 Filings

AGREE REALTY CORP (ADC) reported that its president and CEO, Joey Agree, purchased 7,360 common shares on September 16, 2026 in a purchase in an open market or private transaction at a weighted average price of $68.06 per share, with individual trade prices ranging from $67.97 to $68.13. Following this transaction, he directly held 682,465 common shares and also reported indirect ownership of 3,962 common shares held by his children. No Rule 10b5-1 trading plan is reported for these transactions.

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.

AGREE REALTY CORP (ADC) director John Rakolta Jr. reported open-market purchases of company common shares. On 2026-08-27 he purchased 20,000 shares at a weighted average price of about $73.23 per share, and on 2026-08-28 he purchased 136 shares at $73.52 per share, all held directly. A separate indirect holding entry reports 146 shares held by his wife. The filing also notes 6,263.244 shares acquired under a dividend reinvestment plan since his prior ownership report.

AGREE REALTY CORP (ADC) reported that its Chief Operating Officer, Nicole Witteveen, had 293 Common Shares withheld on August 19, 2026 to pay tax withholdings due upon the vesting of 673 Common Shares. After this tax-withholding disposition, she holds 23,274 Common Shares directly.

AGREE REALTY CORP executive chairman Richard Agree reported an open-market purchase of 5,000 Common Shares on June 4, 2026 at $71.41 per share. The purchased shares are held indirectly through his wife’s account, bringing that indirect position to 90,512 shares following the transaction.

Separate holding entries show he directly owns 422,200 Common Shares and an additional 155,855 Common Shares are held indirectly in a trust for his children. The filing highlights an overall net increase of 5,000 Common Shares across his reported positions.

Agree Realty Corp director John Rakolta Jr. reported buying 20,000 common shares in an open-market purchase at $74.57 per share. After this transaction, he directly owns 595,797.76 common shares and indirectly holds 146 shares through his wife. A footnote notes that 2,003.48 of his directly owned shares were acquired under a dividend reinvestment plan since his last ownership report.

Frankel Merrie S. reported acquisition or exercise transactions in this Form 4 filing.

AGREE REALTY CORP director Merrie S. Frankel received a grant of 432 common shares as restricted stock that fully vested on the grant date. The grant was reported at a price of $0.00 per share, indicating equity compensation rather than a market purchase. Following this award, she directly holds 11,099 common shares. The filing also reports a direct holding of 400 Depositary Series A shares, shown as a position entry rather than a new transaction.

Dearing Karen reported acquisition or exercise transactions in this Form 4 filing.

Agree Realty Corp director Karen Dearing received a grant of 2,159 restricted stock units (RSUs) on May 14, 2026. The award was granted at no cash cost and is a form of equity compensation, not an open-market share purchase or sale.

The RSUs vest on May 14, 2027, with each unit representing a contingent right to receive one common share. Dearing elected to defer receipt of the common shares until her departure from the Board of Directors, and her direct holdings after this grant total 15,616 common shares.

Agree Realty Corp director Linglong He reported two equity awards of Common Shares. On May 14, 2026, He acquired 1,328 shares at an award value of $75.28 per share and 2,159 restricted stock units as part of board compensation rather than cash fees.

The RSUs vest on May 14, 2027, with each unit converting into one common share, and He has elected to defer receiving the related shares until departing the Board. The filing also notes additional shares accumulated through a dividend reinvestment plan since the prior ownership report.

AGREE REALTY CORP director Michael Hollman reported a compensation-related equity grant. He acquired 2,159 common shares in the form of restricted stock units (RSUs) on May 14, 2026, reported at $0.00 per share, reflecting a grant or award rather than a market purchase.

The RSUs vest on May 14, 2027, and each RSU will convert into one common share at settlement. Hollman has elected to defer receipt of the shares until his departure from the Board of Directors. After this grant, his direct holdings total 10,337.247 common shares, including 292.293 shares accumulated through a dividend reinvestment plan since his prior ownership filing.

Agree Realty Corp director Michael Judlowe reported equity-based compensation in the form of common shares. On May 14, 2026, he acquired 1,328 common shares at $75.28 per share and 2,159 common shares at a stated price of $0.00, both classified as grants or awards rather than open-market purchases.

Footnotes explain these are restricted stock units (RSUs) that vest on May 14, 2027, with each RSU delivering one common share. Judlowe elected to defer receipt of the shares until his departure from the Board and to receive a portion of his annual Board fee in RSUs instead of cash. After these grants, he held 15,317 common shares directly and 100 common shares indirectly through his wife.

AGREE REALTY CORP director John Rakolta Jr reported equity-based compensation in the form of company stock. On May 14, 2026, he received two awards of common shares, classified as grant or award acquisitions rather than open-market purchases or sales.

One award was 1,328 common shares at $75.28 per share, and another was 2,159 restricted common shares at $0.00 per share. The restricted stock vests on May 14, 2027, and reflects his election under the Board compensation plan to receive a portion of his annual fee in restricted common stock instead of cash. Following these awards, he held 572,466.2800 common shares directly, plus 146 common shares indirectly held by his wife, including 1,920.183 shares accumulated through a dividend reinvestment plan since his prior ownership report.

Rossi Jerome R reported acquisition or exercise transactions in this Form 4 filing.

AGREE REALTY CORP director Jerome R. Rossi received an equity award of 2,159 restricted stock units. The RSUs were granted as of May 14, 2026 and each unit represents a contingent right to receive one common share, rather than an immediate cash transaction or open-market purchase.

The RSUs vest on May 14, 2027, adding a time-based service condition before shares are delivered. Rossi voluntarily elected to defer receipt of the common shares issuable upon settlement of these RSUs until his departure from the Board of Directors. Following this award, he holds 12,351 common shares directly as reported in the filing.

Agree Realty Corp director Greg Lehmkuhl increased his stake through a mix of open‑market buying and equity compensation. He purchased 750 common shares in the open market at $75.09 per share. On the same date he also received 4,318 restricted stock units (RSUs) as board compensation, which vest on May 14, 2027, with settlement in common shares deferred until his departure from the Board. Footnotes note that this holding includes 1,713.104 shares acquired through the company’s dividend reinvestment plan since his last ownership filing.

Agree Realty Corp President and CEO Joey Agree reported a direct open-market purchase of 13,295 common shares on May 14, 2026 at a weighted average price of $75.41 per share. Following this transaction, he directly owns 675,105 common shares. The filing also notes 3,962 common shares held indirectly by his children, reflecting additional family-related ownership.

Agree Realty Corp’s Chief Growth Officer, Craig Erlich, reported a charitable-type transfer of stock. He made a bona fide gift of 500 Common Shares on May 6, 2026 at a stated price of $0.00 per share, meaning no sale proceeds were received.

After this gift, he directly holds 59,388 Common Shares and 4,898 Depositary Shares Series A. An additional 100 Common Shares are reported as indirectly owned through his wife. The filing records these positions but shows no open‑market buying or selling activity.

AGREE REALTY CORP director John Rakolta Jr. reported an indirect open-market purchase of the company’s common shares. On April 1, 2026, his wife bought 146 common shares of Agree Realty at $75.69 per share.

Following this transaction, she holds 146 shares indirectly, while Rakolta Jr. directly owns 568,387.097 common shares, which includes 5,781.296 shares acquired through a dividend reinvestment plan since his last beneficial ownership statement.

AGREE REALTY CORP’s Chief Accounting Officer, Stephen Breslin, reported mixed share movements involving company common shares. He received a grant of 2,521 restricted common shares, which were issued by the Compensation Committee. According to the footnote, 841, 840, and 840 of these shares are scheduled to vest on February 23, 2027, 2028, and 2029, subject to his continued employment.

On the same date, 1,475 common shares were disposed of at $79.32 per share as a tax-withholding disposition tied to the vesting of 3,175 common shares, meaning the shares were withheld by the company to cover taxes rather than sold in an open-market transaction. Following these transactions, Breslin directly owned 13,061 common shares of AGREE REALTY CORP.

AGREE REALTY CORP General Counsel Danielle M. Spehar reported equity awards and related tax withholding in company stock. She received 4,539 restricted common shares granted by the compensation committee, which are scheduled to vest in three equal installments on February 23, 2027, February 23, 2028, and February 23, 2029, subject to continued employment.

She also acquired 6,004 restricted common shares upon vesting of performance units granted on February 23, 2023 under the 2020 Omnibus Incentive Plan; these vested on February 23, 2026. To cover taxes on the vesting of 12,903 shares, 5,706 common shares were disposed of at $79.32 per share through issuer withholding rather than an open-market sale. After these transactions, she held 25,785 common shares directly.

AGREE REALTY CORP Chief Operating Officer Nicole Witteveen reported equity award activity and related tax withholding in common shares. On February 23, 2026, she acquired 8,510 restricted common shares granted by the Compensation Committee, which will vest in three equal annual installments on February 23 of 2027, 2028, and 2029, subject to continued employment.

On the same date, she also acquired 2,502 restricted common shares that were issued upon vesting of performance units granted on February 23, 2023 under the 2020 Omnibus Incentive Plan; these restricted shares vested immediately. To cover tax withholdings on the vesting of 7,041 common shares, the issuer withheld 3,146 common shares at $79.32 per share. After these transactions, her reported direct ownership in common shares changed as reflected in the filing’s post-transaction balances.

Agree Realty Corp Chief Growth Officer Craig Erlich reported several equity-related transactions in common shares. He acquired 5,673 restricted shares in one grant and 10,005 restricted shares in another, both awarded by the board’s Compensation Committee at no cash cost to him.

According to the footnotes, 1,891 of the granted restricted shares are scheduled to vest on each of February 23, 2027, 2028, and 2029, subject to continued employment. The 10,005 shares were issued upon vesting of performance units granted in 2023 and vested immediately on February 23, 2026.

To satisfy tax withholding obligations on 19,630 vested common shares, 8,636 common shares were withheld by the company at a price of $79.32 per share, a tax-withholding disposition rather than an open-market sale. After these transactions, Erlich directly holds 59,888 common shares, indirectly holds 100 common shares through his wife, and directly holds 4,898 depositary shares of Series A preferred.

Agree Realty Corp Chief Financial Officer Peter Coughenour reported several equity-related transactions in common shares. On February 23, 2026, he received 8,510 restricted shares that will vest in three equal installments on February 23, 2027, 2028, and 2029, subject to continued employment. He was also issued 4,003 restricted shares upon vesting of performance units granted in 2023; these vested immediately on February 23, 2026. To cover tax withholdings on the vesting of 9,918 shares, the company withheld 4,401 shares, leaving him with 26,656 common shares held directly after the transactions.

AGREE REALTY CORP’s president and CEO Joey Agree reported equity compensation and related tax withholding transactions in common shares. He received a grant of 24,584 restricted shares that will vest in three equal tranches on February 23, 2027, 2028, and 2029, subject to continued employment. He was also issued 40,025 restricted shares upon vesting of performance units granted on February 23, 2023, which vested immediately on February 23, 2026. To satisfy tax obligations on the vesting of 99,418 shares, the company withheld 41,487 shares. Following these transactions, he continues to hold common shares directly, and an additional 3,962 shares are reported as held indirectly by his children.

AGREE REALTY CORP reported that Executive Chairman Richard Agree received a grant of 8,069 restricted common shares, awarded by the board’s Compensation Committee at no cash cost. These shares are scheduled to vest in three equal annual installments on February 23 of 2027, 2028, and 2029, contingent on his continued employment.

The company also withheld 4,577 common shares at a price of $79.32 per share to cover tax obligations tied to the vesting of 10,219 previously granted shares. After these transactions, he holds 422,200 common shares directly, plus indirect holdings of 85,512 shares through his wife and 155,855 shares through a children’s trust.

Agree Realty Corp's chief financial officer, Peter Coughenour, reported an open-market purchase of company stock. On January 9, 2026, he bought 500 common shares at a price of $69.80 per share, increasing his directly held stake. Following this transaction, he beneficially owned 18,544 common shares of Agree Realty Corp in direct ownership.

Agree Realty Corp executive chairman Richard Agree, through a trust for his children, reported purchasing 24,000 common shares of ADC on January 9, 2026 at a weighted average price of $70.67 per share. The filing notes that these shares were bought in multiple trades at prices ranging from $70.40 to $70.82.

Following this purchase, the trust for his children held 159,855 shares indirectly attributed to him. He also reported 414,708 common shares held directly and an additional 85,512 common shares held indirectly through his wife.

Agree Realty Corp director files insider trading report showing both a share transfer and a purchase. On 12/22/2025, the reporting director transferred 11,549 common shares of Agree Realty Corp, coded as a disposition at a price of $0. On 12/24/2025, the same director purchased 15,000 common shares at a weighted average price of $72.18, with individual trades ranging from $72.03 to $72.32.

Following these transactions, the director beneficially owned 562,605.801 common shares directly, which includes 5,454.303 shares acquired through a dividend reinvestment plan since the last filing. The filing notes that more detailed trade-by-trade pricing information is available upon request from the issuer, any security holder, or the SEC staff.

Agree Realty Corp’s chief accounting officer reports a small share withholding for taxes. On 12/01/2025, the officer filed a Form 4 showing that 262 common shares of Agree Realty Corp were disposed of at a price of $74.64 per share. The filing explains that these shares were withheld by the company to cover tax obligations arising from the vesting of 602 common shares.

After this tax-related withholding, the officer beneficially owned 12,015 common shares directly. This event reflects routine equity compensation and associated tax settlement rather than an open-market sale.

Agree Realty Corp (ADC) reported an insider equity transfer by its President & CEO, who is also a director. On 11/18/2025, the insider reported a transaction coded “G,” indicating a bona fide gift of 1,028 common shares at a reported price of $0, held indirectly by children. After this transaction, the insider beneficially owns 3,962 common shares indirectly by children and 638,688 common shares directly. This filing reflects a personal estate or family-related transfer rather than an open-market trade.

Agree Realty Corp (ADC) executive chairman reports share transfer

Agree Realty Corp’s executive chairman and director reported a Form 4 transaction involving 2,570 common shares on 11/18/2025. The transaction was coded “G,” indicating a gift of shares at a stated price of $0. After this transaction, he reports owning 414,708 common shares directly, 85,512 common shares indirectly through his wife, and 135,855 common shares indirectly through a trust for his children.

Agree Realty Corp. director John Rakolta Jr. reported acquiring 25,154 common shares on 10/07/2025 at a weighted-average price of $70.41 per share (trades ranged from $70.30 to $70.50). After the purchase, the reporting person beneficially owns 553,700.498 shares, which includes 7,313.980 shares added via the dividend reinvestment plan since his last filing. The report was filed as an individual Form 4 and includes a Power of Attorney exhibit.

AGREE REALTY CORP’s Chief Growth Officer Craig Erlich reported an open-market purchase of 360 common shares on 2025-10-03 at $70.845 per share. Following this trade, he holds 52,846 common shares directly, 100 shares indirectly through his wife, 305 indirectly through his children, and 4,898 Depositary Shares Series A directly.

Agree Realty Corp. (ADC) director and President & CEO Joey Agree reported purchasing 3,528 common shares on 10/02/2025 at a weighted average price of $70.63. Following the transaction he directly beneficially owns 638,688 shares and indirectly owns 2,934 shares through his children. The footnote states the reported price is a weighted average for purchases priced between $70.45 and $70.75, and the filer will provide purchase breakdowns on request. The filing was signed by an attorney-in-fact on 10/03/2025.