Stephen Breslin - 23 Feb 2026 Form 4 Insider Report for AGREE REALTY CORP (ADC)

Role
CHIEF ACCOUNTING OFFICER
Signature
/s/ Stephen Breslin
Issuer symbol
ADC
Transactions as of
23 Feb 2026
Net transactions value
-$116,997
Form type
4
Filing time
25 Feb 2026, 16:20:36 UTC
Previous filing
03 Dec 2025
SEC
View on sec.gov

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
Breslin Stephen CHIEF ACCOUNTING OFFICER 32301 WOODWARD AVENUE, ROYAL OAK /s/ Stephen Breslin 25 Feb 2026 0001932559

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ADC Common Shares Award $0 +2,521 +21% $0.000000 14,536 23 Feb 2026 Direct F1
transaction ADC Common Shares Tax liability $116,997 -1,475 -10% $79.32 13,061 23 Feb 2026 Direct F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents the issuance of restricted common shares to the reporting person by the Issuer's Compensation Committee of the Board of Directors. 841, 840, and 840 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, 2027, February 23, 2028, and February 23, 2029, respectively.
F2 Represents common shares withheld by the Issuer as payment of tax withholdings due upon vesting of 3,175 common shares.