Agree Rlty Corp SEC Filings

Craig Erlich, Chief Growth Officer of Agree Realty Corp (ADC), filed a Form 4 reporting transactions dated 10/03/2025. The filing shows an open-market purchase of 360 common shares at a price of $70.845 per share. After this transaction, Mr. Erlich beneficially owns 52,846 common shares directly. The Form 4 also reports 100 shares held indirectly by his wife and 305 shares held indirectly by his children. Separately, the filing records a disposition of 4,898 Depositary Shares Series A. The form is signed by an attorney-in-fact on behalf of the reporting person on 10/06/2025.

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.

Agree Realty Corporation filed a current report to disclose its weighted-average common shares outstanding for the three and nine months ended September 30, 2025, and how these figures affect earnings per share calculations. For the quarter, weighted-average common shares outstanding were 111,531,032, with 111,277,316 used in basic EPS and 111,511,615 used in diluted EPS. For the nine-month period, weighted-average common shares outstanding were 109,637,451, with 109,383,735 used in basic EPS and 109,875,336 used in diluted EPS. The company applied the treasury stock method to its forward equity offerings, which added 21,355 weighted-average incremental shares to diluted shares for the quarter and 274,536 for the nine months. Including 347,619 Operating Partnership units, total diluted shares and OP units were 111,859,234 for the quarter and 110,222,955 for the nine months.

Greg Lehmkuhl, a director of Agree Realty Corporation (ADC), reported a small open-market purchase of common shares. The Form 4 discloses a purchase of 750 common shares at $72.84 per share, increasing his beneficial ownership to 27,683.644 shares. The filing notes that 309.701 of those shares were acquired under the company’s dividend reinvestment plan since his last Form 4. The report was filed as a single reporting person Form 4 and includes an attached power of attorney.

Agree Realty Corp (ADC) insider transaction: Craig Erlich, listed as Chief Growth Officer and director, reported transactions dated 08/19/2025. The filing shows a disposal of 396 common shares at $73.48 each (transaction code F) and a disposal of 4,898 depositary shares, Series A. After these transactions, Erlich beneficially owned 52,486 common shares directly, 100 shares indirectly through his wife and 305 shares indirectly through his children. The form explains the 396 common shares were withheld by the issuer to satisfy tax withholdings on the vesting of 908 common shares. The filing is signed by an attorney-in-fact on 08/21/2025.

Insider transaction at Agree Realty (ADC): Nicole Witteveen, listed as Chief Operating Officer, reported a transaction dated 08/19/2025 in which 294 common shares were disposed at $73.48 per share. The Form 4 states these 294 shares were withheld by the issuer to satisfy tax withholdings on 674 vested shares. After the reported disposition, the filing shows Ms. Witteveen beneficially owns 15,701 common shares. The form was signed by an attorney-in-fact on 08/21/2025.

Agree Realty Corp (ADC) Form 4: The reporting person, listed as "Agree Joey" and identified as President & CEO and a Director, made an open-market acquisition on 08/14/2025. The filing reports a purchase of 2,100 common shares at a weighted-average price of $72.08 (individual trade prices ranged from $72.03 to $72.10). After the purchase, the reporting person beneficially owned 635,160 shares directly and 2,934 shares indirectly (by children). The Form 4 was signed by an attorney-in-fact, Donald J. Kunz, on 08/18/2025. The filer notes the weighted-average price and offers to provide trade-by-trade details upon request.

Joey Agree, President & CEO and a director of Agree Realty Corporation (ADC), purchased common shares on 08/13/2025. He acquired 4,108 shares directly at a weighted average price of $72.15, bringing his direct holdings to 633,060 shares. Separately, 742 shares were recorded as acquired for his children (indirect), increasing indirect holdings to 2,934.

The reported price is a weighted average for multiple trades executed in a range of $72.02 to $72.19. The Form 4 shows these are non-derivative common share purchases reported pursuant to Section 16.