Compensation award — excluded from discretionary-purchase analysis.
Written from the filing's own figures. OQRO describes what was reported and never tells you what to buy or sell
View the official recordSEC Form 4 — Statement of Changes in Beneficial OwnershipAll the details
Dates, kept separate
Transaction date
May 14, 2026
Reporting period
Not applicable
Filed with the SEC
May 18, 2026
DirectorGrant / award
Context
Classification
grant award
Code A — grant or award
Planned / mechanical clue
Footnote references vesting of compensation awards
Only flagged when a footnote says so; never inferred
Source receipt
Record ID
0001882560-26-000004
Filed / recorded
May 18, 2026, 8:17 PM UTC
Added to OQRO
Oct 6, 2026, 3:07 PM UTC
Parser
form4-xml-v1
Data quality
Verified: identifiers matched exactly
Issuer
AGREE REALTY CORP
Issuer CIK
917251
Ticker
ADC
Reporting person
Michael Judlowe
Relationship
Director
Security
Common Shares
Table
Non-derivative (Table I)
Transaction date
May 14, 2026
Transaction code
A
Shares / units
1,328
Price per share
$75.28
Acquired / disposed
Acquired (A)
Shares owned after
15,317
Ownership form
Direct
Amendment
No
Footnotes from the filing
Represents a grant of restricted stock units (RSUs) that vest on May 14, 2027. Each RSU represents a contingent right to receive one common share. The Reporting Person voluntarily elected to defer receipt of the common shares issuable upon settlement of the RSUs until the Reporting Person's departure from the Board of Directors.
Under Agree Realty Corporation's compensation plan for its Board of Directors, the Board member elected to receive a portion of their annual fee in RSUs in lieu of cash.
Agree Realty's EXECUTIVE CHAIRMAN OF BOARD paid $357K out of pocket for Agree Realty shares. 2 other people at Agree Realty bought some too, in the same month. The Agree Realty shares held grew by 6%.