Enrique R. Arzac - Apr 21, 2022 Form 4 Insider Report for ADAMS DIVERSIFIED EQUITY FUND, INC. (ADX)

Role: Director
Signature: Gail L. Valenti as Attorney-in-Fact for Enrique R. Arzac
Stock symbol: ADX
Transactions as of: Apr 21, 2022
Transactions value $: $22,062
Form type: 4
Date filed: 4/26/2022, 10:56 AM
Previous filing: Feb 9, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	ADX	Common Stock	Award	$0	+72.3	+0.35%	$0.00	20.8K	Apr 21, 2022	Direct	F1, F2
transaction	ADX	Common Stock	Other	$0	+0.001	+0.23%	$0.00	0.438	Apr 21, 2022	By Trust	F3, F4
transaction	ADX	Common Stock	Award	$22.1K	+1.23K	+13.1%	$18.01	10.6K	Apr 21, 2022	By Trust	F2, F4, F5, F6
holding	ADX	Common Stock						29.3K	Apr 21, 2022	By Trust	F2, F4
holding	ADX	Common Stock						9.66K	Apr 21, 2022	Indirect/Other

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Enrique R. Arzac is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id	Content
F1	These shares accrued as dividend equivalents on deferred stock units (shares received in lieu of director retainer fees). The Issuer's stock traded in a range of $16.77 - $19.61 during 2022.
F2	Dr. Arzac's cumulative beneficial ownership reflects the exempt transactions reported herein and also certain changes in direct and indirect ownership balances resulting from transfers among accounts.
F3	This fractional share was acquired in exempt transactions as a result of dividend reinvestment. The Issuer's stock traded in a range of $16.77 - $19.61 during 2022.
F4	By the Enrique R. Arzac TTEE The Enrique R. Arzac TR UA DTD 12/28/2012 Trust.
F5	Of these shares, 695 shares accrued as dividend equivalents on 750 restricted stock units, which were granted in 2007 and deferred until retirement on 04/21/2022. Another 530 shares accrued as dividend equivalents on 750 restricted stock units, which were granted in 2013 and deferred until retirement on 04/21/2022. The Issuer's stock average trading price on 04/21/2022 was $18.01.
F6	A fractional share in the amount of 0.01 was issued as part of DSUs (granted in lieu of a 2007 deferred cash retainer) & DE shares earned. An additional fractional share in the amount of 0.54 was issued as part of DSUs (granted in lieu of a 2013 deferred cash retainer) & DE shares earned. The fractional shares were surrendered as non-transferrable to a registered account.