Form 4: Agree Realty Corp Director Michael Hollman Acquires 2,000 Shares of Common Stock

Director Michael Hollman acquired 2,000 shares of Agree Realty Corporation (ADC) common stock on February 23, 2024, as part of the company's compensation plan.

Summary

• On February 23, 2024, Michael Hollman, a director of Agree Realty Corporation, acquired 2,000 shares of common stock.
• The acquisition was part of Agree Realty Corporation's compensation plan for its Board of Directors, where members receive a portion of their annual fee in common stock and can elect to receive additional shares in lieu of cash.
• These shares were granted as restricted stock and will vest on February 23, 2025.
• Following the transaction, Hollman directly owns 6,019 common shares.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to director compensation, indicating a stable and well-governed company. The sentiment is neutral to positive as it shows alignment of interests between management and shareholders.

Positives

• The acquisition of shares by a director demonstrates confidence in the company's future.
• The compensation plan aligns the interests of the board members with those of the shareholders.

Future Outlook

The document does not contain any specific forward-looking statements or guidance.

Industry Context

This type of stock grant to board members is a common practice in the real estate industry to align the interests of directors with shareholders.

Comparison to Industry Standards

• Stock-based compensation for board members is a common practice among publicly traded REITs like Agree Realty Corporation.
• Companies such as Simon Property Group and Public Storage also utilize stock grants as part of their director compensation packages.
• The vesting period of one year for the restricted stock is fairly standard within the industry.

Stakeholder Impact

• The stock grant aligns the interests of the director with those of the shareholders.
• The compensation plan ensures that board members are incentivized to increase shareholder value.

Key Dates