Insider Transactions Reported by 16 Insiders of AGREE REALTY CORP

Symbol: ADC, ADC-PA on NYSE
Location: Royal Oak, MI

Key facts

ADC - AGREE REALTY CORP has 16 insiders with reported activity on this page.
Net insider value flow over the last year: +$8,720,130.
Recent transaction rows are available for direct filing-level review.

Change

Buy value: $8,720,130; sell value: $0.
Net share flow: +120,433.

Research use

This page gives a plain-language issuer insider context before you inspect transaction-level evidence.
Use the filing links below to verify timestamps, codes, and ownership impacts directly from SEC forms.

Evidence

Filed on Form 4

Issuer insider activity is sourced from SEC Forms 3, 4, and 5.

See Original Filing

Insider trading overview

Last 12 months

Net insider flow leans to buying over the last 12 months. Net value: +$8,720,130.

Buys

$8,720,130

Shares: 120,433

Insiders: 6

Sells

Shares: 0

Insiders: 0

Net

+$8,720,130

Shares: +120,433

Insiders: 6

Window (months)	Buy shares	Buy $	Sell $	Net $
0-3	34,191	$2,561,344	$0	+$2,561,344
3-6	39,500	$2,813,680	$0	+$2,813,680
6-9	29,792	$2,100,410	$0	+$2,100,410
9-12	16,950	$1,244,696	$0	+$1,244,696

AGREE REALTY CORP executives and other stock owners filed with the SEC include:

Name	Relationship	Holdings Value	Past Year Net Change	Change %	Valuation	Report Date
Joey Agree	PRESIDENT & CEO, Director	$51,208,323	+$1,753,054	+3.5%	Mixed	14 May 2026
Richard Agree	EXECUTIVE CHAIRMAN OF BOARD, Director	$50,724,919	+$1,696,080	+3.5%	Mixed	23 Feb 2026
John Rakolta Jr.	Director	$44,439,643	+$5,099,644	+13%	Mixed	15 May 2026
Craig Erlich	Chief Growth Officer	$4,484,205	+$25,504	+0.57%	Median	06 May 2026
Greg Lehmkuhl	Director	$2,587,957	+$110,948	+4.5%	Filing P/S	14 May 2026
Peter Coughenour	Chief Financial Officer	$2,114,353	+$34,900	+1.7%	Mixed	23 Feb 2026
Danielle M. Spehar	General Counsel	$2,045,266			Mixed	23 Feb 2026
Nicole Witteveen	Chief Operating Officer	$1,869,334			Mixed	23 Feb 2026
Karen Dearing	Director	$1,177,134			Median	14 May 2026
Michael Judlowe	Director	$1,162,133			Median	14 May 2026
Stephen Breslin	Chief Accounting Officer	$1,035,998			Mixed	23 Feb 2026
Jerome R. Rossi	Director	$931,018			Median	14 May 2026
Merrie S. Frankel	Director	$836,642			Median	14 May 2026
Michael Hollman	Director	$779,221			Median	14 May 2026
Linglong He	Director	$728,784			Median	14 May 2026
David A. Wolff	Chief Accounting Officer	$275,621			Mixed	23 Feb 2022

Top shareholders of AGREE REALTY CORP (13F + 13D/G + 3/4/5)

Grouped by holder across the latest SEC ownership disclosures. Ownership % is shown only when it is directly reported or safely comparable across share classes.

Methodology: rows are grouped by holder and ranked first by SEC-reported ownership % when it is safely comparable, then by disclosed holdings value. — indicates unavailable or non-comparable values; "mixed-class rows" means the latest filing spans non-comparable classes.

Holder	Source	Role / Reporting	Ownership %	Shares	Holdings Value	12M Net Δ	As of	Details
COHEN & STEERS, INC.	13D/G 13F	Company	15%	17,918,363	$1,372,725,789	+$414,181,393	31 Mar 2026	13D/G 13F
BlackRock, Inc.	13F 13D/G	Company	11% from 13D/G	17,890,008	$1,348,548,794	—	31 Mar 2026	13F 13D/G
VANGUARD PORTFOLIO MANAGEMENT LLC	13D/G 13F	Vanguard Portfolio Management · Company	8.6%	10,277,845	$774,743,956	$0	31 Mar 2026	13D/G 13F
VANGUARD CAPITAL MANAGEMENT LLC	13D/G 13F	Vanguard Capital Management · Company	5.3%	6,332,281	$477,327,342	$0	31 Mar 2026	13D/G 13F
STATE STREET CORP	13D/G 13F	STATE STREET CORPORATION · Company	5%	5,967,031	$457,134,245	+$53,857,519	31 Mar 2026	13D/G 13F
Joey Agree	3/4/5	PRESIDENT & CEO, Director	0.57%	679,067	$51,208,323	+$1,753,054	14 May 2026	3/4/5
Richard Agree	3/4/5	EXECUTIVE CHAIRMAN OF BOARD, Director	0.55%	663,567	$50,724,919	+$1,696,080	23 Feb 2026	3/4/5
John Rakolta Jr.	3/4/5	Director	0.5%	595,944	$44,439,643	+$5,099,644	15 May 2026	3/4/5
Greg Lehmkuhl	3/4/5	Director	0.03%	34,465	$2,587,957	+$110,948	14 May 2026	3/4/5
Peter Coughenour	3/4/5	CHIEF FINANCIAL OFFICER	0.02%	26,656	$2,114,353	+$34,900	23 Feb 2026	3/4/5
Danielle M. Spehar	3/4/5	GENERAL COUNSEL	0.02%	25,785	$2,045,266	—	23 Feb 2026	3/4/5
Nicole Witteveen	3/4/5	CHIEF OPERATING OFFICER	0.02%	23,567	$1,869,334	—	23 Feb 2026	3/4/5
Karen Dearing	3/4/5	Director	0.01%	15,616	$1,177,134	—	14 May 2026	3/4/5
Michael Judlowe	3/4/5	Director	0.01%	15,417	$1,162,133	—	14 May 2026	3/4/5
Stephen Breslin	3/4/5	CHIEF ACCOUNTING OFFICER	0.01%	13,061	$1,035,998	—	23 Feb 2026	3/4/5
Jerome R. Rossi	3/4/5	Director	0.01%	12,351	$931,018	—	14 May 2026	3/4/5
Michael Hollman	3/4/5	Director	0.01%	10,337	$779,221	—	14 May 2026	3/4/5
Linglong He	3/4/5	Director	0.01%	9,668	$728,784	—	14 May 2026	3/4/5
PRINCIPAL FINANCIAL GROUP INC	13F	Company	3.8%	4,526,088	$341,180,058	—	31 Mar 2026	13F
TWO SIGMA INVESTMENTS, LP	13F	Company	3.4%	4,041,693	$304,662,818	—	31 Mar 2026	13F
CENTERSQUARE INVESTMENT MANAGEMENT LLC	13F	Company	2.9%	3,429,575	$258,521,364	—	31 Mar 2026	13F
Zimmer Partners, LP	13F	Company	2.7%	3,296,414	$248,483,687	—	31 Mar 2026	13F
Daiwa Securities Group Inc.	13F	Company	2.5%	2,961,683	$223,251,665	—	31 Mar 2026	13F
JPMORGAN CHASE & CO	13F	Company	2.3%	2,766,748	$207,423,098	—	31 Mar 2026	13F
GEODE CAPITAL MANAGEMENT, LLC	13F	Company	2.2%	2,698,758	$203,474,604	—	31 Mar 2026	13F
CHARLES SCHWAB INVESTMENT MANAGEMENT INC	13F	Company	1.8%	2,109,853	$159,040,719	—	31 Mar 2026	13F
PRUDENTIAL FINANCIAL INC	13F	Company	1.6%	1,907,109	$143,757,876	—	31 Mar 2026	13F
DIMENSIONAL FUND ADVISORS LP	13F	Company	1.5%	1,771,018	$133,497,797	—	31 Mar 2026	13F
BANK OF AMERICA CORP /DE/	13F	Company	1.3%	1,526,561	$115,072,156	—	31 Mar 2026	13F
RAYMOND JAMES FINANCIAL INC	13F	Company	1.2%	1,432,481	$107,898,889	—	31 Mar 2026	13F
NOMURA ASSET MANAGEMENT INTERNATIONAL INC.	13F	Company	1.2%	1,396,798	$105,291,000	—	31 Mar 2026	13F
DEUTSCHE BANK AG\	13F	Company	1.1%	1,336,269	$100,727,958	—	31 Mar 2026	13F
MORGAN STANLEY	13F	Company	1.1%	1,319,035	$99,428,998	—	31 Mar 2026	13F
JANUS HENDERSON GROUP PLC	13F	Company	1%	1,251,683	$94,332,202	—	31 Mar 2026	13F
GOLDMAN SACHS GROUP INC	13F	Company	0.98%	1,170,476	$88,230,499	—	31 Mar 2026	13F
NORTHERN TRUST CORP	13F	Company	0.96%	1,151,104	$86,770,220	—	31 Mar 2026	13F
FRONTIER CAPITAL MANAGEMENT CO LLC	13F	Company	0.92%	1,101,386	$83,022,477	—	31 Mar 2026	13F
MILLENNIUM MANAGEMENT LLC	13F	Company	0.92%	1,098,432	$82,799,804	—	31 Mar 2026	13F
SEI INVESTMENTS CO	13F	Company	0.88%	1,051,454	$79,258,579	—	31 Mar 2026	13F
DUFF & PHELPS INVESTMENT MANAGEMENT CO	13F	Company	0.84%	1,010,118	$76,142,695	—	31 Mar 2026	13F
PGGM Investments	13F	Individual	0.78%	932,633	$70,302,000	—	31 Mar 2026	13F
Bank of New York Mellon Corp	13F	Company	0.77%	925,807	$69,787,326	—	31 Mar 2026	13F
Russell Investments Group, Ltd.	13F	Company	0.75%	903,113	$68,076,503	—	31 Mar 2026	13F
CITADEL ADVISORS LLC	13F	Company	0.66%	791,151	$59,636,962	—	31 Mar 2026	13F
Holocene Advisors, LP	13F	Company	0.66%	790,359	$59,577,261	—	31 Mar 2026	13F
CINCINNATI INSURANCE CO	13F	Company	0.66%	789,500	$59,512,510	—	31 Mar 2026	13F
Sumitomo Mitsui Trust Group, Inc.	13F	Company	0.65%	781,592	$58,916,405	—	31 Mar 2026	13F
VOLORIDGE INVESTMENT MANAGEMENT, LLC	13F	Company	0.63%	761,010	$57,364,934	—	31 Mar 2026	13F
VANGUARD FIDUCIARY TRUST CO	13F	Company	0.62%	742,361	$55,959,172	—	31 Mar 2026	13F
AMERICAN CENTURY COMPANIES INC	13F	Company	0.61%	727,653	$54,850,653	—	31 Mar 2026	13F

Recent Insider Transactions by Companies or Individuals for AGREE REALTY CORP

Showing up to 300 most recent insider transactions from the last 12 months.

Insider	Symbol	Class	Transaction	%	Value $	* Price $	Shares	Shares Owned	Date	Ownership
John Rakolta Jr.	ADC	Common Shares	Purchase	3.47%	$1,491,400	$74.57	20,000	595,798	15 May 2026	Direct
Merrie S. Frankel	ADC	Common Shares	Award	4.05%			432	11,099	14 May 2026	Direct
Karen Dearing	ADC	Common Shares	Award	16%			2,159	15,616	14 May 2026	Direct
Linglong He	ADC	Common Shares	Award	56.4%			3,487	9,668	14 May 2026	Direct
Michael Hollman	ADC	Common Shares	Award	26.4%			2,159	10,337	14 May 2026	Direct
Michael Judlowe	ADC	Common Shares	Award	29.5%			3,487	15,317	14 May 2026	Direct
John Rakolta Jr.	ADC	Common Shares	Award	0.61%			3,487	573,794	14 May 2026	Direct
Jerome R. Rossi	ADC	Common Shares	Award	21.2%			2,159	12,351	14 May 2026	Direct
Greg Lehmkuhl	ADC	Common Shares	Purchase	2.22%	$56,318	$75.09	750	34,465	14 May 2026	Direct
Greg Lehmkuhl	ADC	Common Shares	Award	14.7%			4,318	33,715	14 May 2026	Direct
Joey Agree	ADC	Common Shares	Purchase	2.01%	$1,002,576	$75.41	13,295	675,105	14 May 2026	Direct
Craig Erlich	ADC	Common Shares	Gift	-0.83%			-500	59,388	06 May 2026	Direct
John Rakolta Jr.	ADC	Common Shares	Purchase		$11,051	$75.69	146	146	01 Apr 2026	By wife
Stephen Breslin	ADC	Common Shares	Tax liability	-10.2%			-1,475	13,061	23 Feb 2026	Direct
Stephen Breslin	ADC	Common Shares	Award	21%			2,521	14,536	23 Feb 2026	Direct
Danielle M. Spehar	ADC	Common Shares	Tax liability	-18.1%			-5,706	25,785	23 Feb 2026	Direct
Danielle M. Spehar	ADC	Common Shares	Award	50.3%			10,543	31,491	23 Feb 2026	Direct
Nicole Witteveen	ADC	Common Shares	Tax liability	-11.8%			-3,146	23,567	23 Feb 2026	Direct
Nicole Witteveen	ADC	Common Shares	Award	70.1%			11,012	26,713	23 Feb 2026	Direct
Craig Erlich	ADC	Common Shares	Tax liability	-12.6%			-8,636	59,888	23 Feb 2026	Direct
Craig Erlich	ADC	Common Shares	Award	29.7%			15,678	68,524	23 Feb 2026	Direct
Peter Coughenour	ADC	Common Shares	Tax liability	-14.2%			-4,401	26,656	23 Feb 2026	Direct
Peter Coughenour	ADC	Common Shares	Award	67.5%			12,513	31,057	23 Feb 2026	Direct
Joey Agree	ADC	Common Shares	Tax liability	-5.9%			-41,487	661,810	23 Feb 2026	Direct
Joey Agree	ADC	Common Shares	Award	10.1%			64,609	703,297	23 Feb 2026	Direct
Richard Agree	ADC	Common Shares	Tax liability	-1.07%			-4,577	422,200	23 Feb 2026	Direct
Richard Agree	ADC	Common Shares	Award	1.93%			8,069	426,777	23 Feb 2026	Direct
Peter Coughenour	ADC	Common Shares	Purchase	2.77%	$34,900	$69.80	500	18,544	09 Jan 2026	Direct
Richard Agree	ADC	Common Shares	Purchase	17.7%	$1,696,080	$70.67	24,000	159,855	09 Jan 2026	By trust - children
John Rakolta Jr.	ADC	Common Shares	Purchase	2.74%	$1,082,700	$72.18	15,000	562,606	24 Dec 2025	Direct
John Rakolta Jr.	ADC	Common Shares	Gift	-2.07%			-11,549	547,606	22 Dec 2025	Direct
Stephen Breslin	ADC	Common Shares	Tax liability	-2.13%			-262	12,015	01 Dec 2025	Direct
Joey Agree	ADC	Common Shares	Gift	35%			1,028	3,962	18 Nov 2025	By children
Richard Agree	ADC	Common Shares	Gift	-0.62%			-2,570	414,708	18 Nov 2025	Direct
John Rakolta Jr.	ADC	Common Shares	Purchase	4.76%	$1,771,093	$70.41	25,154	553,701	07 Oct 2025	Direct
Craig Erlich	ADC	Common Shares	Purchase	0.69%	$25,504	$70.84	360	52,846	03 Oct 2025	Direct
Joey Agree	ADC	Common Shares	Purchase	0.56%	$249,183	$70.63	3,528	638,688	02 Oct 2025	Direct
Greg Lehmkuhl	ADC	Common Shares	Purchase	2.78%	$54,630	$72.84	750	27,684	05 Sep 2025	Direct
Craig Erlich	ADC	Common Shares	Tax liability	-0.75%			-396	52,486	19 Aug 2025	Direct
Nicole Witteveen	ADC	Common Shares	Tax liability	-1.84%			-294	15,701	19 Aug 2025	Direct
Joey Agree	ADC	Common Shares	Purchase	0.33%	$151,368	$72.08	2,100	635,160	14 Aug 2025	Direct
Joey Agree	ADC	Common Shares	Purchase	33.8%	$53,535	$72.15	742	2,934	13 Aug 2025	By children
Joey Agree	ADC	Common Shares	Purchase	0.65%	$296,392	$72.15	4,108	633,060	13 Aug 2025	Direct
John Rakolta Jr.	ADC	Common Shares	Purchase	1.96%	$743,400	$74.34	10,000	521,233	11 Jun 2025	Direct

* An asterisk sign (*) next to the price indicates that the price is likely invalid.