AGREE REALTY CORP — Director's Dealing 2020

Aug 21, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AGREE REALTY CORP (ADC)
CIK: 0000917251
Period of Report: 2020-08-19

Reporting Person: Erlich Craig (Chief Investment Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-08-19	Common Shares	A	4541	$0.00	Acquired	19217	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Shares	593	Indirect

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. 909, 908, 908, 908 and 908 of these shares shall become vested and nonforfeitable, subject to the reporting person's continued service as an employee of the Issuer, on August 19, 2021, August 19, 2022, August 19, 2023, August 19, 2024 and August 19, 2025, respectively.