RICHARD AGREE - 23 Feb 2022 Form 4 Insider Report for AGREE REALTY CORP (ADC)

Role: EXECUTIVE CHAIRMAN OF BOARD, Director
Signature: /s/ Cheryl A. Hamilton, Attorney-in-Fact
Issuer symbol: ADC
Transactions as of: 23 Feb 2022
Net transactions value: $0
Form type: 4
Filing time: 25 Feb 2022, 15:07:03 UTC
Previous filing: 30 Sep 2021
Next filing: 27 Feb 2023
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	ADC	Common Shares	Award	$0	+6,971	+1.7%	$0.000000	411,859	23 Feb 2022	Direct	F1
holding	ADC	Common Shares						94,355	23 Feb 2022	By trust - children
holding	ADC	Common Shares						70,512	23 Feb 2022	By wife

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

Explanation of Responses:

Id	Content
F1	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. 1,395, 1,394, 1,394, 1,394 and ,1394 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.

Content

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. 1,395, 1,394, 1,394, 1,394 and ,1394 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.