Joey Agree - May 17, 2023 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: May 17, 2023
Transactions value $: $326,750
Form type: 4
Date filed: 5/18/2023, 06:30 AM
Previous filing: May 15, 2023
Next filing: May 24, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	ADC	Common Shares	Purchase	$327K	+5K	+0.96%	$65.35	524K	May 17, 2023	Direct	F1
holding	ADC	Common Shares						50	May 17, 2023	By children

* 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 $65.25 to $65.50 per share. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

Content

The reported price in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $65.25 to $65.50 per share. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.