Joey Agree - Feb 23, 2022 Form 4 Insider Report for AGREE REALTY CORP (ADC)

Role
PRESIDENT & CEO, Director
Signature
/s/ Cheryl A. Hamilton, Attorney-in-Fact
Stock symbol
ADC
Transactions as of
Feb 23, 2022
Transactions value $
-$1,463,680
Form type
4
Date filed
2/25/2022, 03:06 PM
Previous filing
Sep 27, 2021
Next filing
Mar 23, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ADC Common Shares Tax liability -$1.46M -23.4K -5.22% $62.62 424K Feb 23, 2022 Direct F1
transaction ADC Common Shares Award $0 +27.9K +6.58% $0.00 452K Feb 23, 2022 Direct F2
transaction ADC Common Shares Award $0 +27.1K +6% $0.00 480K Feb 23, 2022 Direct F3
holding ADC Common Shares 50 Feb 23, 2022 By children
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents common shares withheld by the Issuer as payment of tax withholdings due upon vesting of 53,608 common shares.
F2 All of these shares are restricted common shares that were granted to the reporting person by the Issuer's Compensation Committee of the Board of Directors. 5,590, 5,589, 5,589, 5,589 and 5,589 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, 2023, February 23, 2024, February 23, 2025, February 23, 2026 and February 23, 2027, respectively
F3 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 shares. 9,049 of the restricted shares issued upon vesting of the performance shares vested immediately on February 23, 2022 while 9,049 and 9,048 of the restricted shares issued shall become vested and nonforfeitable, subject to the reporting person's continued service as an employee of the Issuer, on February 23, 2023 and February 23, 2024, respectively.