Joey Agree - 23 Feb 2026 Form 4 Insider Report for AGREE REALTY CORP (ADC)

Signature
/s/ Stephen Breslin, Attorney-in-Fact
Issuer symbol
ADC
Transactions as of
23 Feb 2026
Net transactions value
-$3,290,749
Form type
4
Filing time
25 Feb 2026, 16:17:14 UTC
Previous filing
20 Nov 2025

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
Agree Joey PRESIDENT & CEO, Director 32301 WOODWARD AVENUE, ROYAL OAK /s/ Stephen Breslin, Attorney-in-Fact 25 Feb 2026 0001348490

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ADC Common Shares Award $0 +24,584 +3.8% $0.000000 663,272 23 Feb 2026 Direct F1
transaction ADC Common Shares Award $0 +40,025 +6% $0.000000 703,297 23 Feb 2026 Direct F2
transaction ADC Common Shares Tax liability $3,290,749 -41,487 -5.9% $79.32 661,810 23 Feb 2026 Direct F3
holding ADC Common Shares 3,962 23 Feb 2026 By children
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents the issuance of restricted common shares to the reporting person by the Issuer's Compensation Committee of the Board of Directors. 8,195, 8,195, and 8,194 of these shares shall become vested and nonforfeitable, subject to the reporting person's continued service as an employee of the Issuer, on February 23, 2027, February 23, 2028, and February 23, 2029, respectively.
F2 Represents the issuance of restricted common shares to the reporting person by the Issuer's Compensation Committee of the Board of Directors upon vesting of the performance units that were granted on February 23, 2023, under the Issuer's 2020 Omnibus Incentive Plan. These restricted common shares vested immediately on February 23, 2026.
F3 Represents common shares withheld by the Issuer as payment of tax withholdings due upon vesting of 99,418 common shares.