Craig Erlich - Aug 14, 2023 Form 4 Insider Report for AGREE REALTY CORP (ADC)

Role: CHIEF OPERATING OFFICER
Signature: /s/ Cheryl A. Hamilton, Attorney-in-Fact
Stock symbol: ADC
Transactions as of: Aug 14, 2023
Transactions value $: $109,440
Form type: 4
Date filed: 8/16/2023, 06:30 AM
Previous filing: May 30, 2023
Next filing: Aug 22, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	ADC	Common Shares	Purchase	$93.5K	+1.5K	+4.27%	$62.36	36.7K	Aug 14, 2023	Direct
transaction	ADC	Common Shares	Purchase	$6.24K	+100		$62.39	100	Aug 14, 2023	By wife
transaction	ADC	Common Shares	Purchase	$9.66K	+155	+22.14%	$62.33	855	Aug 14, 2023	By children	F1
holding	ADC	Depositary Shares Series A						4.9K	Aug 14, 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 $62.29 to $62.35 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 $62.29 to $62.35 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.