RICHARD AGREE - 09 Jan 2026 Form 4 Insider Report for AGREE REALTY CORP (ADC)

Role: EXECUTIVE CHAIRMAN OF BOARD, Director
Signature: /s/ Stephen Breslin, Attorney-in-Fact
Issuer symbol: ADC
Transactions as of: 09 Jan 2026
Net transactions value: +$1,696,080
Form type: 4
Filing time: 12 Jan 2026, 07:09:48 UTC
Previous filing: 20 Nov 2025
Next filing: 25 Feb 2026
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
AGREE RICHARD	EXECUTIVE CHAIRMAN OF BOARD, Director	32301 WOODWARD AVENUE, ROYAL OAK	/s/ Stephen Breslin, Attorney-in-Fact	12 Jan 2026	0001275238

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	ADC	Common Shares	Purchase	$1,696,080	+24,000	+18%	$70.67	159,855	09 Jan 2026	By trust - children	F1
holding	ADC	Common Shares						414,708	09 Jan 2026	Direct
holding	ADC	Common Shares						85,512	09 Jan 2026	By wife

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

Explanation of Responses:

Id	Content
F1	The reported price in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $70.40 to $70.82. 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.

Content

The reported price in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $70.40 to $70.82. 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.