Form 4: ADC Officer's Share Withholding for Tax

Agree Realty Corp's Chief Growth Officer, Craig Erlich, reported the disposition of 396 common shares for tax withholding purposes at $73.48 per share.

Summary

• Craig Erlich, Chief Growth Officer of Agree Realty Corp (ADC), reported a transaction on August 19, 2025.
• The transaction involved the disposition of 396 common shares.
• These shares were withheld by the company to cover tax withholdings due upon the vesting of 908 common shares.
• The shares were disposed of at a price of $73.48 per share.
• Following this transaction, Craig Erlich directly beneficially owns 52,486 common shares and 4,898 Depositary Shares Series A.
• He also indirectly beneficially owns 100 common shares through his wife and 305 common shares through his children.

Sentiment

Score: 5

Explanation: The transaction is a routine, non-discretionary event related to equity compensation and tax withholding, indicating a neutral impact on company sentiment.

Positives

• The transaction is a routine tax withholding event, indicating the vesting of 908 common shares, which is a positive for the officer as it represents compensation.

Negatives

• Disposition of shares, even for tax purposes, reduces the officer's direct ownership.

Future Outlook

NA

Industry Context

This Form 4 filing details a routine insider transaction related to equity compensation and tax withholding, which is common across all publicly traded companies that offer stock-based compensation to executives. It does not reflect broader industry trends or competitive dynamics.

Stakeholder Impact

• Minimal direct impact on shareholders as this is a routine, non-discretionary transaction for tax purposes related to executive compensation.
• Positive for the executive (Craig Erlich) as it signifies the vesting of equity compensation.

Key Dates

Keywords

Agree Realty Corp, ADC, Craig Erlich, Chief Growth Officer, Form 4, SEC filing, share disposition, tax withholding, insider transaction, equity compensation