AGREE REALTY CORP — Director's Dealing 2018

Feb 27, 2018

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AGREE REALTY CORP (ADC)
CIK: 0000917251
Period of Report: 2018-02-23

Reporting Person: Agree Joey (Director, President & CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2018-02-23	Common Shares	F	8221	$47.73	Disposed	333003	Direct
2018-02-23	Common Shares	A	55248	$0.00	Acquired	388251	Direct

Footnotes

F1: Represents Common Shares sold to the issuer as payment of tax withholding due upon vesting of 18,856 Common Shares.

F2: All of these shares are restricted common shares that were granted to the reporting person by the Issuer's Compensation Committee of the Board of Directors. 11,050, 11,050, 11,050, 11,049 and 11,049 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, 2019, February 23, 2020, February 23, 2021, February 23, 2022 and February 23, 2023, respectively.