AG真人官方

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[Form 4] Agree AG真人官方ty Corporation Insider Trading Activity

Filing Impact
(Low)
Filing Sentiment
(Negative)
Form Type
4
Rhea-AI Filing Summary

Agree AG真人官方ty Corp (ADC) insider transaction: Craig Erlich, listed as Chief Growth Officer and director, reported transactions dated 08/19/2025. The filing shows a disposal of 396 common shares at $73.48 each (transaction code F) and a disposal of 4,898 depositary shares, Series A. After these transactions, Erlich beneficially owned 52,486 common shares directly, 100 shares indirectly through his wife and 305 shares indirectly through his children. The form explains the 396 common shares were withheld by the issuer to satisfy tax withholdings on the vesting of 908 common shares. The filing is signed by an attorney-in-fact on 08/21/2025.

Operazione di insider di Agree AG真人官方ty Corp (ADC): Craig Erlich, indicato come Chief Growth Officer e direttore, ha segnalato operazioni in data 19/08/2025. Il deposito riporta una disposizione di 396 azioni ordinarie a $73,48 ciascuna (codice transazione F) e una disposizione di 4.898 azioni depositarie, Serie A. Dopo queste operazioni, Erlich deteneva beneficiariamente 52.486 azioni ordinarie in propriet脿 diretta, 100 azioni indirettamente tramite la moglie e 305 azioni indirettamente tramite i figli. Il modulo spiega che le 396 azioni ordinarie sono state trattenute dall'emittente per soddisfare le ritenute fiscali sulla maturazione di 908 azioni ordinarie. Il documento 猫 firmato da un procuratore il 21/08/2025.

Transacci贸n de insider de Agree AG真人官方ty Corp (ADC): Craig Erlich, registrado como Chief Growth Officer y director, inform贸 transacciones con fecha 19/08/2025. El registro muestra una disposici贸n de 396 acciones ordinarias a $73,48 cada una (c贸digo de transacci贸n F) y una disposici贸n de 4.898 acciones depositarias, Serie A. Tras estas operaciones, Erlich pose铆a beneficiariamente 52.486 acciones ordinarias en propiedad directa, 100 acciones indirectamente a trav茅s de su esposa y 305 acciones indirectamente a trav茅s de sus hijos. El formulario explica que las 396 acciones ordinarias fueron retenidas por el emisor para cubrir retenciones fiscales por la adquisici贸n de 908 acciones ordinarias. La presentaci贸n est谩 firmada por un apoderado el 21/08/2025.

Agree AG真人官方ty Corp (ADC) 雮措秬鞛� 瓯半灅: 斓滉碃靹膘灔毂呾瀯鞛�(Chief Growth Officer) 瓴� 鞚挫偓搿� 旮办灛霅� Craig Erlich臧 2025-08-19鞛� 瓯半灅毳� 氤搓碃頄堨姷雼堧嫟. 鞝滌稖靹滊鞐愲姅 瓯半灅旖旊摐 F搿� 欤茧嫻 $73.48鞐� 氤错喌欤� 396欤� 觳橂秳 氚� 鞓堩儊欤检嫕(鞁滊Μ歃� A) 4,898欤� 觳橂秳鞚� 旮办灛霅橃柎 鞛堨姷雼堧嫟. 鞚措摛 瓯半灅 頉� Erlich電� 歆侅爲鞝侅溂搿� 52,486欤� 氤错喌欤茧ゼ 鞁れ 靻岇湢顷橁碃, 氚办毎鞛愲ゼ 韱淀暣 臧勳爲 氤挫湢 100欤�, 鞛愲厐毳� 韱淀暣 臧勳爲 氤挫湢 305欤�毳� 氤挫湢頃橁碃 鞛堨棃鞀惦媹雼�. 靹滌嫕鞐愲姅 396欤检潣 氤错喌欤缄皜 908欤检潣 氤错喌欤� 氩犾姢韺呾棎 雽頃� 靹戈笀 鞗愳矞歆曥垬毳� 於╇嫻頃橁赴 鞙勴暣 氚滍枆鞚胳澊 氤措頄堧嫟瓿� 靹る獏霅橃柎 鞛堨姷雼堧嫟. 靹滊電� 2025-08-21鞐� 雽毽澑鞚� 靹滊獏頄堨姷雼堧嫟.

Op茅ration d'initi茅 d'Agree AG真人官方ty Corp (ADC) : Craig Erlich, inscrit en tant que Chief Growth Officer et administrateur, a d茅clar茅 des op茅rations dat茅es du 19/08/2025. le d茅p么t indique une cession de 396 actions ordinaires73,48 $ chacune (code de transaction F) et une cession de 4 898 actions d茅pos茅es, S茅rie A. Apr猫s ces op茅rations, Erlich d茅tenait 脿 titre b茅n茅ficiaire 52 486 actions ordinaires en propri茅t茅 directe, 100 actions indirectement par l'interm茅diaire de son 茅pouse et 305 actions indirectement par ses enfants. Le formulaire pr茅cise que les 396 actions ordinaires ont 茅t茅 retenues par l'茅metteur pour satisfaire les retenues fiscales li茅es 脿 la acquisition de 908 actions ordinaires. Le document est sign茅 par un mandataire le 21/08/2025.

Insider-Transaktion von Agree AG真人官方ty Corp (ADC): Craig Erlich, aufgef眉hrt als Chief Growth Officer und Direktor, meldete Transaktionen datiert 19.08.2025. Die Einreichung zeigt eine Ver盲u脽erung von 396 Stammaktien zu je $73,48 (Transaktionscode F) und eine Ver盲u脽erung von 4.898 Depositary Shares, Serie A. Nach diesen Transaktionen besa脽 Erlich wirtschaftlich 52.486 Stammaktien direkt, 100 Aktien indirekt 眉ber seine Ehefrau und 305 Aktien indirekt 眉ber seine Kinder. Das Formular erkl盲rt, dass die 396 Stammaktien vom Emittenten einbehalten wurden, um Steuerabz眉ge im Zusammenhang mit der Vesting von 908 Stammaktien zu erf眉llen. Die Einreichung ist von einem Bevollm盲chtigten am 21.08.2025 unterzeichnet.

Positive
  • None.
Negative
  • None.

Insights

TL;DR Insider sold a small bloc of shares for tax withholding; retains a meaningful direct stake of 52,486 shares.

The reported disposal of 396 common shares at $73.48 appears to be a tax-withholding event tied to the vesting of 908 shares, per the explanation. This type of transaction commonly reflects routine compensation-related withholding rather than a voluntary market sale. Erlich still holds 52,486 common shares directly, plus modest indirect holdings, which maintains alignment with shareholders. No earnings, debt or operational items are disclosed in this Form 4.

TL;DR The filing documents routine tax-related share withholding and shows ongoing insider ownership.

The form identifies Erlich as an officer and director and records withholdings to satisfy tax obligations on vested equity. The presence of indirect holdings by family members is disclosed, and the signature by an attorney-in-fact is included. From a governance perspective, the disclosure is complete for the reported transactions and indicates continued insider ownership, which supports alignment with long-term shareholders. There is no indication of unusual or unexplained dispositions in this filing.

Operazione di insider di Agree AG真人官方ty Corp (ADC): Craig Erlich, indicato come Chief Growth Officer e direttore, ha segnalato operazioni in data 19/08/2025. Il deposito riporta una disposizione di 396 azioni ordinarie a $73,48 ciascuna (codice transazione F) e una disposizione di 4.898 azioni depositarie, Serie A. Dopo queste operazioni, Erlich deteneva beneficiariamente 52.486 azioni ordinarie in propriet脿 diretta, 100 azioni indirettamente tramite la moglie e 305 azioni indirettamente tramite i figli. Il modulo spiega che le 396 azioni ordinarie sono state trattenute dall'emittente per soddisfare le ritenute fiscali sulla maturazione di 908 azioni ordinarie. Il documento 猫 firmato da un procuratore il 21/08/2025.

Transacci贸n de insider de Agree AG真人官方ty Corp (ADC): Craig Erlich, registrado como Chief Growth Officer y director, inform贸 transacciones con fecha 19/08/2025. El registro muestra una disposici贸n de 396 acciones ordinarias a $73,48 cada una (c贸digo de transacci贸n F) y una disposici贸n de 4.898 acciones depositarias, Serie A. Tras estas operaciones, Erlich pose铆a beneficiariamente 52.486 acciones ordinarias en propiedad directa, 100 acciones indirectamente a trav茅s de su esposa y 305 acciones indirectamente a trav茅s de sus hijos. El formulario explica que las 396 acciones ordinarias fueron retenidas por el emisor para cubrir retenciones fiscales por la adquisici贸n de 908 acciones ordinarias. La presentaci贸n est谩 firmada por un apoderado el 21/08/2025.

Agree AG真人官方ty Corp (ADC) 雮措秬鞛� 瓯半灅: 斓滉碃靹膘灔毂呾瀯鞛�(Chief Growth Officer) 瓴� 鞚挫偓搿� 旮办灛霅� Craig Erlich臧 2025-08-19鞛� 瓯半灅毳� 氤搓碃頄堨姷雼堧嫟. 鞝滌稖靹滊鞐愲姅 瓯半灅旖旊摐 F搿� 欤茧嫻 $73.48鞐� 氤错喌欤� 396欤� 觳橂秳 氚� 鞓堩儊欤检嫕(鞁滊Μ歃� A) 4,898欤� 觳橂秳鞚� 旮办灛霅橃柎 鞛堨姷雼堧嫟. 鞚措摛 瓯半灅 頉� Erlich電� 歆侅爲鞝侅溂搿� 52,486欤� 氤错喌欤茧ゼ 鞁れ 靻岇湢顷橁碃, 氚办毎鞛愲ゼ 韱淀暣 臧勳爲 氤挫湢 100欤�, 鞛愲厐毳� 韱淀暣 臧勳爲 氤挫湢 305欤�毳� 氤挫湢頃橁碃 鞛堨棃鞀惦媹雼�. 靹滌嫕鞐愲姅 396欤检潣 氤错喌欤缄皜 908欤检潣 氤错喌欤� 氩犾姢韺呾棎 雽頃� 靹戈笀 鞗愳矞歆曥垬毳� 於╇嫻頃橁赴 鞙勴暣 氚滍枆鞚胳澊 氤措頄堧嫟瓿� 靹る獏霅橃柎 鞛堨姷雼堧嫟. 靹滊電� 2025-08-21鞐� 雽毽澑鞚� 靹滊獏頄堨姷雼堧嫟.

Op茅ration d'initi茅 d'Agree AG真人官方ty Corp (ADC) : Craig Erlich, inscrit en tant que Chief Growth Officer et administrateur, a d茅clar茅 des op茅rations dat茅es du 19/08/2025. le d茅p么t indique une cession de 396 actions ordinaires73,48 $ chacune (code de transaction F) et une cession de 4 898 actions d茅pos茅es, S茅rie A. Apr猫s ces op茅rations, Erlich d茅tenait 脿 titre b茅n茅ficiaire 52 486 actions ordinaires en propri茅t茅 directe, 100 actions indirectement par l'interm茅diaire de son 茅pouse et 305 actions indirectement par ses enfants. Le formulaire pr茅cise que les 396 actions ordinaires ont 茅t茅 retenues par l'茅metteur pour satisfaire les retenues fiscales li茅es 脿 la acquisition de 908 actions ordinaires. Le document est sign茅 par un mandataire le 21/08/2025.

Insider-Transaktion von Agree AG真人官方ty Corp (ADC): Craig Erlich, aufgef眉hrt als Chief Growth Officer und Direktor, meldete Transaktionen datiert 19.08.2025. Die Einreichung zeigt eine Ver盲u脽erung von 396 Stammaktien zu je $73,48 (Transaktionscode F) und eine Ver盲u脽erung von 4.898 Depositary Shares, Serie A. Nach diesen Transaktionen besa脽 Erlich wirtschaftlich 52.486 Stammaktien direkt, 100 Aktien indirekt 眉ber seine Ehefrau und 305 Aktien indirekt 眉ber seine Kinder. Das Formular erkl盲rt, dass die 396 Stammaktien vom Emittenten einbehalten wurden, um Steuerabz眉ge im Zusammenhang mit der Vesting von 908 Stammaktien zu erf眉llen. Die Einreichung ist von einem Bevollm盲chtigten am 21.08.2025 unterzeichnet.

SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response: 0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
1. Name and Address of Reporting Person*
Erlich Craig

(Last) (First) (Middle)
32301 WOODWARD AVENUE

(Street)
ROYAL OAK MI 48073

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
AGREE REALTY CORP [ ADC ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
CHIEF GROWTH OFFICER
3. Date of Earliest Transaction (Month/Day/Year)
08/19/2025
4. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Shares 08/19/2025 F 396(1) D $73.48 52,486 D
Common Shares 100 I By wife
Common Shares 305 I By children
Depositary Shares Series A 4,898 D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Explanation of Responses:
1. Represents common shares withheld by the Issuer as payment of tax withholdings due upon vesting of 908 common shares.
/s/ Donald J. Kunz, Attorney-in-Fact 08/21/2025
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
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8.04B
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REIT - Retail
AG真人官方 Estate Investment Trusts
United States
ROYAL OAK