Michael Judlowe - 14 May 2026 Form 4 Insider Report for AGREE REALTY CORP (ADC)

Reporting relationship: Director
Issuer ticker: ADC
Reported as of: 14 May 2026
Net transaction value: $0
SEC form: 4
Accepted by SEC: 18 May 2026, 16:17:34 UTC
Prior SEC filing: 25 Feb 2025
Source filing: View source filing
Reporting owner signature: /s/ Stephen Breslin, Attorney-in-Fact

Key filing fact

Michael Judlowe filed Form 4 for AGREE REALTY CORP (ADC) on 18 May 2026.

Key facts

This page summarizes Michael Judlowe's Form 4 filing for AGREE REALTY CORP (ADC).
2 reported transactions and 0 derivative rows are listed below.
Accepted by SEC: 18 May 2026, 16:17.

Change

Previous filing in this sequence was filed on 25 Feb 2025.
Current net transaction value: $0.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reporting Owners (1)

CIK 0001882560 Primary reporting owner

Judlowe Michael

Relationship: Director
Address: 32301 WOODWARD AVENUE, ROYAL OAK
Signature: /s/ Stephen Breslin, Attorney-in-Fact
Signature date: 18 May 2026

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

ADC transaction

Common Shares

Award

Transaction value
Shares: +2,159
Change %: +18%
Price: $0.000000^*
Shares after: 13,989
Date: 14 May 2026
Ownership: Direct
Footnotes: F1

ADC transaction

Common Shares

Award

Transaction value
Shares: +1,328
Change %: +9.5%
Price: $75.28^*
Shares after: 15,317
Date: 14 May 2026
Ownership: Direct
Footnotes: F1, F2

ADC holding

Common Shares

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 100
Date: 14 May 2026
Ownership: by wife

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 2 footnotes

Footnote F1

Represents a grant of restricted stock units (RSUs) that vest on May 14, 2027. Each RSU represents a contingent right to receive one common share. The Reporting Person voluntarily elected to defer receipt of the common shares issuable upon settlement of the RSUs until the Reporting Person's departure from the Board of Directors.

Footnote F2

Under Agree Realty Corporation's compensation plan for its Board of Directors, the Board member elected to receive a portion of their annual fee in RSUs in lieu of cash.

SEC remarks

Exhibit 24, Power of Attorney, is attached.