AGREE REALTY CORP — Director's Dealing 2024

Feb 27, 2024

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AGREE REALTY CORP (ADC)
CIK: 0000917251
Period of Report: 2024-02-23

Reporting Person: Coughenour Peter (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2024-02-23	Common Shares	A	7825	—	Acquired	14368	Direct
2024-02-23	Common Shares	F	699	$57.51	Disposed	13669	Direct

Footnotes

F1: Represents the issuance of restricted common shares to the reporting person by the Issuer's Compensation Committee of the Board of Directors. 2,609, 2608 and 2,608 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, 2025, February 23, 2026, and February 23, 2027, respectively.

F2: Represents common shares withheld by the Issuer as payment of tax withholdings due upon vesting of 1,430 common shares.