Form 4: Agree Realty Officer Sells Shares for Tax Withholding
Insider Transaction Report
Agree Realty Corp.'s Chief Accounting Officer, Stephen Breslin, disposed of 262 common shares to cover tax obligations related to a vesting event.
Summary
- Stephen Breslin, Chief Accounting Officer of Agree Realty Corp. (ADC), reported a transaction on December 1, 2025.
- The transaction involved the disposition of 262 common shares at a price of $74.64 per share.
- These shares were withheld by the Issuer to cover tax withholdings due upon the vesting of 602 common shares.
- Following this transaction, Stephen Breslin beneficially owns 12,015 common shares directly.
- The transaction was made pursuant to a Rule 10b5-1(c) pre-planned contract or instruction.
Sentiment
Score: 5
Explanation: The transaction is a routine, pre-planned disposition of shares for tax withholding purposes, which is neutral in terms of market sentiment.
Future Outlook
The filing does not contain any forward-looking statements or guidance.
Industry Context
This is a routine insider transaction for tax purposes and does not provide specific insights into broader industry trends or competitive positioning for Agree Realty Corp.
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Power of Attorney Grant | Stephen Breslin granted a Power of Attorney to several individuals (Stephen Breslin, Peter Coughenour, Donald J. Kunz, Joshua Damm, Stephanie Swan) to prepare, execute, and file SEC documents on his behalf, including Forms 3, 4, and 5, and to manage his EDGAR account. | 08/15/2025 | This streamlines the process for Stephen Breslin to comply with SEC filing requirements under Section 13 and 16 of the Exchange Act, ensuring timely and accurate reporting of his beneficial ownership and transactions. |
Stakeholder Impact
- Shareholders: Minimal direct impact as this is a routine, tax-related transaction and not indicative of a change in management's view of the company's prospects.
- Employees: No direct impact mentioned.
Key Dates
| Date | Description |
|---|---|
| 08/15/2025 | Date of execution for the Power of Attorney granted by Stephen Breslin. |
| 12/01/2025 | Date of the reported transaction where shares were disposed. |
| 12/03/2025 | Date the Form 4 was signed and filed. |
Keywords
Agree Realty Corp, ADC, Stephen Breslin, Form 4, Insider Transaction, Share Sale, Tax Withholding, Chief Accounting Officer, Rule 10b5-1
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.