Form 4 for ADC AGREE REALTY CORP

Accepted 2025-02-25 00:00:00 ET · period of report 2025-02-23 · accession 0001415889-25-005474 · SEC index · Original document

Summary rows

Aggregated the way they appear in lists: one row per insider, transaction code and security table.

X	Filed	Traded	Ticker	Insider	Title	Type	Price	Qty	Owned	ΔOwn	Value
M	2025-02-25	2025-02-23	ADC	Erlich Craig	Chief GROWTH Off	A - Grant	$0.00	+11.6K	56.3K	+26%	$0
	2025-02-25	2025-02-23	ADC	Erlich Craig	Chief GROWTH Off	F - Tax	$72.83	-3,375	52.9K	-6%	-$245.8K

Purchase Sale Sale after option exercise All abbreviations

#	Table	Security	Date	Code	A/D	Shares	Price	Owned after	Own	Exercise / expiry	Underlying	Footnotes
1	Common	Common Shares	2025-02-23	A	A	6,179	$0.00	50,867	D	—	—	(F1) Represents the issuance of restricted common shares to the reporting person by the Issuer's Compensation Committee of the Board of Directors. 2,060, 2,060 and 2,059 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, 2026, February 23, 2027, and February 23, 2028, respectively.
2	Common	Common Shares	2025-02-23	F	D	3,375	$72.83	52,882	D	—	—	(F3) Represents common shares withheld by the Issuer as payment of tax withholdings due upon vesting of 7,566 common shares.
3	Common	Common Shares	2025-02-23	A	A	5,390	$0.00	56,257	D	—	—	(F2) Represents the issuance of restricted common shares to the reporting person by the Issuer's Compensation Committee of the Board of Directors upon vesting of the performance shares. 1,797 of the restricted shares issued upon vesting of the performance shares vested immediately on February 23, 2025 while 1,797 and 1,796 of the restricted shares issued shall become vested and nonforfeitable, subject to the reporting person's continued service as an employee of the Issuer, on February 23, 2026 and February 23, 2027, respectively.