AGREE REALTY CORP — Director's Dealing 2018

Jan 29, 2018

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AGREE REALTY CORP (ADC)
CIK: 0000917251
Period of Report: 2017-12-04

Reporting Person: Thelen Clayton R. (CFO & Secretary)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-12-04	Common Shares	A	4063	$49.22	Acquired	4063	Direct

Footnotes

F1: 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. 813, 813, 813, 812 and 812 of these shares shall become vested and nonforfeitable, subject to the reporting person's continued service as an employee of the Issuer, on December 4, 2018, December 4, 2019, December 4, 2020, December 4, 2021 and December 4, 2022, respectively.