AGREE REALTY CORP — Director's Dealing 2023

Feb 27, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AGREE REALTY CORP (ADC)
CIK: 0000917251
Period of Report: 2023-02-23

Reporting Person: Witteveen Nicole (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2023-02-23	Common Shares	F	349	$73.27	Disposed	6859	Direct
2023-02-23	Common Shares	A	1535	—	Acquired	8394	Direct

Footnotes

F1: Represents common shares withheld by the Issuer as payment of tax withholdings due upon vesting of 740 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. 512, 512 and 511 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, 2024, February 23, 2025, and February 23, 2026, respectively.