RICHARD AGREE - 03 Aug 2023 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: 03 Aug 2023
Net transactions value: +$1,162,461
Form type: 4
Filing time: 04 Aug 2023, 06:30:05 UTC
Previous filing: 03 Aug 2023
Next filing: 14 Dec 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	Purchase	$581,199	+9,124	+12%	$63.70	85,512	03 Aug 2023	By wife	F1
transaction	ADC	Common Shares	Purchase	$581,262	+9,125	+9.1%	$63.70	109,355	03 Aug 2023	By trust - children	F1
holding	ADC	Common Shares						413,939	03 Aug 2023	Direct

* 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 $63.41 to $64.00 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 $63.41 to $64.00 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.